Platform-Based and Data-Driven Models for the Development of Organized Commodity Markets

The relevance of this research is determined by the transformation of organized commodity markets under the influence of digitalization and the spread of platform-based and data-driven business models, which fundamentally change the mechanisms of liquidity formation, pricing, and market competition. With the growing role of data as an economic asset, traditional exchange institutions are confronted with the need to adapt to new technological and regulatory requirements. For Ukraine, this issue acquires special significance given the wartime challenges, the necessity to ensure economic resilience, and integration into the European economic space. The aim of this article is to examine platform-based and data-driven models of organized commodity market development in the context of digitalization and to determine their institutional and technological implications for the national economy. The study employs methods of institutional analysis, comparative analysis, a structural-functional approach, and qualitative case analysis of organized commodity markets. The theoretical foundation combines the tenets of multi-sided platform theory and institutional economics, allowing commodity markets to be understood as complex digital ecosystems. The study substantiates that platform business models facilitate the shift from transaction-oriented exchanges to data-driven ecosystems, where market data becomes a key source of value creation. An asymmetry in the development of digital platforms in Ukraine’s commodity markets has been identified, manifesting in the uneven development of trading, post-trading, and analytical components. It is demonstrated that the implementation of algorithmic trading mechanisms, market oversight, and digital infrastructure is not merely a technological choice but an institutional prerequisite for the functioning of organized commodity markets in the contemporary regulatory environment. The practical value of this article lies in the potential to use the obtained results to develop strategies for the growth of organized commodity markets, enhance regulatory approaches, and design digital platforms in the fields of energy, agricultural production, and public asset management. The proposed conclusions may be useful for government authorities, exchange operators, and market participants when developing solutions aimed at increasing the transparency, liquidity, and investment attractiveness of commodity markets in the context of digital transformation.