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Global Currencies FAQ

Forex FAQs

CurrencyHistorical marketsexchange trade from Sundays 5:00 PM EST (market opening in Tokyo) to Fridays 5:00 PM EST (market close in New York).

Each country also has its own trading hours. The highest activity occurs when multiple marketsrates are open.available Sydneyeach beginsday at 5:0000:10 pmAM EST,GMT and(12:10 NewAM YorkLondon closes at 5:00 pm EST--setting the paceTime) for the startprevious andday. closeWe oftime trading. Those hours can be affected by Daylight Savings Time instamp each country. * **Sydney:**rate 5:00at pm23:59:59 GMT to 2:00allow amfor EST * **Tokyo:** 7:00consistent pmcomparisons toor 4:00reverse amrate EST  * **London:** 3:00 am to 12:00 noon EST  * **New York:** 8:00am to 5:00 pm EST conversions.

No.Our Thereal-time "inverse"forex of a currency pairdata is notupdated alwaysin equaltrue toreal-time theas exchangenew ratequotes ofare theissued oppositeby pair.market participants. 

Example: Suppose USDEUR has a value of 1.3050. The inverse of this rate is 1 / 1.3050 = 0.7763. You may expect that the exchange rate of EURUSD should equal 0.7763 at the same time.

While the two numbers should be very close, there is no guarantee they will match exactly. While Forex markets are massive and very liquid, they are also very distributed and decentralized. Not all trades occur exactly at the same time, in the same places and with the same price discovery:

For instance:

1. The timing of the last trade in USDEUR versus the last trade for EURUSD would have to match perfectly, and this is unlikely. Even in a very liquid market, there could be small price difference even for trades occurring sub-seconds apart.

2. The contributor for an exchange rates can change for any currency pair. If the quote for USDEUR comes from one contributor and EURUSD comes from another, again it is unlikely to match as those contributors could use different feeds and price discovery mechanisms. The size of the trades on each side of the pair can also vary and affect the rates.

If you still have any questions about this topic, please send an e-mail to [support@xignite.com](mailto:support@xignite.com).

Our spot exchange rates come from Morningstar and SIX Financial Information. Xignite combines multiple high quality sources to provide high levels of liquidity, coverage and redundancy as the rates fare obtained from a broad base of trading desks in the world’s largest banks, brokers and forex marketplaces.

Highs and lows are calculated as the highest and lowest values for the mid-rate from 00:00:00 to 23:59:59 London Time. Rates are not available on from Friday 5PM ET to 6PM Sunday ET.

Xignite receives direct exchange rates for most currency pairs. If an exchange rate is not available for a currency pair, we calculate it by converting“crossing” it through a major currency.

Example: We want to know the exchange rate of Canadian Dollars (CAD) to Egyptian Pounds (EGP). If CAD and EGP did not trade directly, the system will search for a more common, highly-traded currency (USD or EUR). If CAD and USD traded, and EGP and USD traded, Xignite can derive an exchange rate for "CAD to EGP" using USD. This is done for all fields in the data output (not just the Average/Mid Rate).

Allied Irish, Commerzbank, Den Norske Bank, European Central Bank, Nordea Bank, SAXO, UBS, Banca D’Italia, Banco de Espana, SA, Banco de Mexico, Bank of reasonsCanada, that one may want to use Bid or Ask insteadBank of Mid,England, soBanque wede electedFrance.

Forward points = 1/10,000 of a configurable setting. percent