The Colorspace Converter allows for converting between a wide range of different colorspaces, white points, and transfer functions. If we don't have support for a particular colorspace or transfer function, please reach out to us and we'll try our best to add it in the next release.
The first row, labeled "Source" should describe the the current Colorspace, White Point, and Transfer Function and the second row, labeled "Destination" should describe the target Colorspace, White Point, and Transfer Function. You can optionally disable either the Colorspace + White conversion or the Transfer Function conversion.
The Bradford Matrix is a "chromatic adaptation" matrix that is mostly only useful for color scientists. It makes the result of the conversion look the same as the original when viewed in the same display/illuminant. So instead of the same XYZ values in a different colorspace, it alters the XYZ values to make the result match the source when viewed in the new target illuminant. If you apply a Bradford matrix (say D65 to D50) but you don't convert to D50 when you go back to RGB and you stay at D65, it will look as if it were exposed by the D50 illuminant. Essentially you are white balancing the shot. The Bradford Matrix is normally only used by people who know they need to use it.
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Converting from a Camera Log to Rec 709
Converting to DCDM-X'Y'Z' for Digital Cinema Packages
This is as simple as setting your source and selecting "DCDM-X'Y'Z'" as the destination colorspace - the rest of the settings will automatically be filled out. If you were grading on a calibrated monitor for Rec 709, you will most likely use Rec 709 / D65 / Gamma 2.4 as a source. If you were grading with a calibrated cinema projector, you will most likely use P3 / DCI White / Gamma 2.6.
You can easily perform a reverse transformation (Converting from DCDM-X'Y'Z' for viewing on a non-DCDM compliant device). You would just set your source as "DCDM-X'Y'Z'" and destination (for example) as Rec 709 / D65 / Gamma 2.4 for a Rec709 calibrated monitor, or P3 / DCI White / Gamma 2.6 for a P3 calibrated cinema projector.