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 Cloanto's Currency System family of software and
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
No Private Sources
The data does not include (and did never include) information
provided by commercial or other private third-party feed
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.