FTB-C000191 / Market data field

Foreign Exchange Rate

A foreign exchange rate states the value of one currency in units of another currency under a declared quote convention.

Also known asFX ratecurrency exchange rate

Foundation 3 linked topicsPublished

Definitions

In plain terms

If one euro equals 1.10 US dollars, the rate can convert euro values to dollars when its direction is applied correctly.

Technical

The field requires base and quote currencies, direction, source, venue or fixing, timestamp, bid/ask/mid policy, tenor, calendar, precision, and correction version.

Scope

The reciprocal is a different quoted rate, and spot, forward, official fixing, and executable rates can differ.

Examples

  • A governed methodology records foreign exchange rate with its source, cutoff, units, parameters, and effective version.

Common misconceptions

  • Foreign Exchange Rate does not have one universal implementation without the declared methodology, data basis, and constraints.

Concept relationships

Related

Required by

Where this concept is used

Tutorials planned

These catalogued topics use this concept, but their complete build has not shipped yet.

  • D03-F04-A05 Important
  • D03-F04-A06 Prerequisite
  • D03-F04-A07 Important

Evidence and governance

  1. FTSE Currency Hedging Methodology Overview FTSE Russell, London Stock Exchange Group · first party methodology

    Supports: preferred label, short definition, technical definition

    Limits: Production rates, holidays, currencies, tenors, and calculation details require the full applicable methodology and data licenses.

  2. Fintech Builder Glossary Definition Contract The Fintech Builder · internal governed contract

    Supports: variant distinction

    Limits: Defines governed platform behavior rather than claiming these policies are universally prescribed by external McClellan methodology.

Reviewed by
fintech-builder-batch-004
Last reviewed
2026-07-27
Next review
2027-07-27
Record status
published
Written by

Fintech engineer building market-data and financial systems, and the author of every article, glossary record, and reference implementation on The Fintech Builder.