The managed offering comprises two different services:
- Web Service (.NET and SOAP Web service, accessed via HTTP or HTTPS)
- Data Feed (daily data in XML, INI, JSON, JSONP, TSV or CSV format, accessed or fed via HTTPS, HTTP or FTP)
Managed Services vs. Currency Server Software
The Managed Services are powered by Currency Server, and are geared towards a public who prefers a managed service without requiring the features made available by the Currency Server software itself.
It is always possible to switch from the managed service solution to an in-house deployment of the server software, in consideration of requirements such as performance, latency, quality assurance, and advanced customization options. It only takes a few minutes to set up Currency Server and access its Web service interface, or configure it to write the data to a file. As the interfaces do not change, code investment is always preserved.
Source of Exchange Rate Data
While the Currency Server software supports the ability to fetch exchange rate data choosing from a variety of different FX feeds, including both free (e.g. national central banks) and subscription-based (i.e. commercial data providers) organizations, the data provided as part of the Managed Services is selected and aggregated by Currency System, Inc.
Currency System's exchange rate data feed covers a selection of about 60 major currencies, which are fetched from different official sources of daily reference rates, such as the European Central Bank, the Bank of Canada, the Federal Reserve Bank of New York and the International Monetary Fund. The system runs on a set of multiple servers which include primary and backup Web service and data feed servers, and more systems to fetch, analyze and post new rates, and to cross-check the functionality of all servers.
The service provided by Currency System aims to cover essential and popular requirements, including that to run Currency System's own software products out of the box with a default initial FX feed connection. If you need to support additional currencies, or if you require full control over the choice of data source(s) we recommend that you consider the Currency Server software, which supports a diversity of exchange rate data feed services out of the box.
Non-Exchange Rate Data
In addition to exchange rates, the Managed Services include non-exchange rate properties (e.g. currency codes, names, smallest units, etc.) as outlined on this page: