A: Support for multiple providers of exchange rate data, separation between software and data providers, and abstraction of the programming interfaces from provider-specific details are essential features of the Currency System family of software and services.
In addition to supporting multiple independent providers of exchange rate data in its Currency Server software, Currency System also makes available some of the software's functionality as a set of managed services, which are operating under Currency System's own selection of exchange rate data providers.
These services include:
The data consists of a selection of rates published by multiple official institutions (national central banks, international institutions and other public entities) which are fetched, verified and aggregated by using Currency Server.
No Private Sources
The data does not include (and did never include) information provided by commercial or other private third-party feed services.
The data is usually updated several times a day between around 15:00 and 19:00 CET (09:00 and 13:00 EST), as different national central banks publish their reference rates, according to their local time zone and in consideration of local working days and bank holidays.
Rates of currencies from certain countries in which Friday is a non-working day may not be updated on Fridays.
Currency System's data feed includes rates for Rank 3 and Rank 2 (high and medium popularity) currencies. The feed only includes a selection of rates for Rank 1 (lower popularity) currencies, for which data is either not available or not as meaningful as that for other currencies. Rank 1 rates may have less frequent updates (e.g. weekly or monthly, rather than daily). This may be in consideration of trading volumes, local national currency policies, and other factors. Nevertheless, some of these currencies may be included in the feed in response to client demand.
Rates for Level 3 currencies, which are fully supported by the Currency Server software, are available from other providers, and can be accessed by Currency Server.
The data includes non-exchange rate properties (e.g. currency codes, names, smallest units, EMU status, etc.) which are updated by Currency System independently of the sources used for the exchange rate data.
For each currency in the aggregated feed, Currency System reserves the right to choose what it believes to be the best data source. This means that the origin of the data may change without notice. If you need to be in control of the data source, i.e. if you need to know exactly from which institution(s) each item in the data comes from, we recommend that you deploy Currency Server, which was designed to provide this type of control.
Currency Data Disclaimers apply.