DISCUSSION A: "Real time" foreign exchange rate data is normally
used in currency trading, where "buy" and "sell" offers are
placed in real time, and remain valid for a very short time
(often only for a handful of seconds) within the system in which
they are made. This high-frequency data may also include bad
quotes and sudden peaks which may not be meaningful beyond the
short time during which they are valid.
The Currency System family of products and services focuses
on public and official reference rates, as they are used for
accounting, e-commerce, expense management, etc. These rates are
usually carefully filtered and published about once a day by
various institutions, which are
supported by the Currency
System software and services.
If you need to access "real time" trading data, this probably
means that you engage in currency trading, i.e. that you work
with a trading platform which by definition also provides real
time prices for use within that platform. In that case, only
those rates would be meaningful to you.
If you do not buy or sell currencies directly, then you
probably mean to use "official", "information" and "reference"
rates from one or more providers of your choice, as supported by
Currency System, rather than "real time" rates.
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