Direct Currency Calculation

When stocks are exchanged using different currencies and one currency is the official currency of the country where the exchange quote is given, a direct exchange can be performed.

In order to perform a direct currency calculation, the following four pieces of information are required.

Steps to Perform a Direct Currency Calculation

  1. Retrieve the exchange rate for the Originating currency and the Target currency supplied by the current Market Maker.

    • Search the AsExchangeRate table for a single instance that contains the Originating currency as either the BASE or TERMS currency, and the Target currency as either the BASE or TERMS currency, for the current Market Maker. If rows exist, get the row that has the most recent effective date or the date specified in the optional Exchange Date variable. If the Exchange Date is specified, an error is returned if no rate exists for the specified date.
    • If no rows exist in the AsExchangeRate table for Originating and Target currency, a cross rate calculation will need to be performed.
  1. Retrieve the DirectTermIndicator for the current Market Maker and whatever currency is the TERMS currency from the Exchange Rate retrieved from the AsMarketMakerCurrency table.

  2. Perform the currency conversion calculation to get the number of units in Target currency:

  1. Retrieve the CurrencyRoundPlaces and CurrencyRoundMethod values from the AsCurrency table for the Target currency and round the result. Rounding is described in detail later.

Examples of Direct Currency Calculation

Exchange Rate Indirect Quote, USD/CAN

If converting 100000 USD to CAN then:

If converting 100000 CAN to USD then:

Exchange Rate Direct Quote, USD/CAN

If converting 100000 USD to CAN then:

If converting 100000 CAN to USD then:

Pair Conversion Image

     
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