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Competitive Advantages of Currency Server

This article focuses on unique features of the Currency Server software in relation to currency-enabling solutions by third parties.

Highlights

 
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The following are some of the main factors which differentiate Currency Server from other products and services.

  • Other tools tie you to a single data feed. Currency Server supports multiple providers of exchange rate data (both free and subscription-based). You can change provider without changing your code. You can aggregate or compare data from multiple sources, or fall back to a different provider in case of problems.
  • Some products only support one interface. Currency Server includes a .NET and SOAP Web service interface, a COM interface, and an Ajax-like scripting interface, so you don't have to choose today and be concerned about changing your mind tomorrow if your requirements evolve.
  • Some tools require complex manual installation. Thanks to its refined user interface and documentation, Currency Server can be set up in five minutes.
  • Some solutions only support updates to exchange rates. Currency Servers also supports automatic updates of currency codes, currency names, regime status, etc.
  • Other products cannot be configured to support future European Economic and Monetary Union currencies. Currency Server includes both manual and automatic support for future EMU currencies.
  • Currency Server offers unmatched support for all currencies and locales of the world, including Unicode-enabled objects and interfaces.
  • Beware of imitations. The Currency Server software and documentation incorporate more than ten years of development, testing and daily use and feedback.

Reliability

Currency Server is more reliable and fault tolerant than other solutions.

  • Instead of needing to access an external Web service or other data source for each operation (which introduces a weak link both in terms of performance and in terms of reliability) the software works locally. External FX feed data is accessed, validated and copied to the local cache only when necessary (e.g. a few times per day, or as set by you in the software options).
  • Sophisticated monitoring, failover and notification options are available to manage possible warning and error conditions (while the software keeps running and serving client requests). Currency Server was designed to put you in control.

Performance

Currency Server is faster than other solutions.

  • Currency Server is 100% written in C++, with critical parts carefully optimized for maximum performance.
  • While including a Web service interface based on managed .NET code, the software also features a COM interface, which is implemented as a very fast in-process server DLL and which can provide superior local performance compared to both out-of-process servers and Web services.
  • All exchange rate information and currency conversion requests access a local cache (online FX feeds do not cause delays or dependencies).

Costs

Currency Server was designed to offer a cost advantage both as a software and service, and from a broader TCO perspective.

  • As a software component, Currency Server can be significantly less expensive than an in-house solution.
  • As a service, Currency Server allows you to control your present and future costs by supporting multiple and diverse data feeds, both free and subscription-based. You can look for the service provider that is best for your needs of today, and adapt to whatever your needs and the services market of tomorrow may be.
  • As a combination of software and service, Currency Server allows you to choose the best of both worlds. While other software packages are only sold in combination with a service subscription, the retail version of the Currency Server software is independent of service subscriptions (a multitude of free and subscription-based feeds is supported out of the box).
  • The Currency Server software itself is a one-time purchase (also see the upgrade policy). There are no subscription-like fees for the software. Other than premium support options, standard technical support is free. If you choose one of the supported free FX feeds, your only cost will be the one-time software license.
  • Because the software is independent from the data feed service, in case of unexpected problems you can change provider of exchange rate data at any time without losing your code investment. Compare that to suddenly having to re-write your interfaces to support a different component or service.
  • Because they use the same interface, you can scale from a managed service to an in-house deployment of Currency Server software without changing your existing code.
  • While Currency Server helps increase your sales, it also reduces your costs: clients comparing the TCO of different tools and options especially appreciated the fact that Currency Server was easier to deploy and maintain, actually reduced problem and support cases, included support for future euro currencies, and offered a choice of both free and subscription-based rates.

Transparency

Have you ever wondered where the currency rates and codes used by some tools come from, and how they are maintained?

  • Currency Server uses official and duly licensed ISO 4217 currency codes. The codes covered by this standard, as well as the registered trademark "ISO", are the property of the International Organization for Standardization (ISO), and are used under license in the software.
  • Cloanto has a contract with the ISO 4217 Maintenance Agency under which it is  immediately notified of any variation to the codes or names of any currency in the world. Currency Server supports different mechanisms to manually or automatically update such non-exchange rate currency properties.
  • Currency Server supports a diversity of exchange rate sources, which are clearly identified (as listed in the FX Servers tab of Currency Server Manager).
  • In addition to supporting major official and free data feeds, and commercial and subscription-based services, Cloanto also directly provides a basic feed consisting of data aggregated from multiple official sources, which covers a selection of currencies.
  • The data provided by other commercial and subscription-based services may be covered by copyrights, redistribution restrictions and other terms of use. Cloanto does not (and never did) "relay" data provided by such commercial entities in its own data feed.
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