Foreign Exchange is the business component responsible for exchanging one type of currency for another type, for example US Dollar for Canadian Dollar. The exchange is a buy-and-sell transaction, where the buy transaction results in the financial institution receiving money in one currency, and the sell transaction results in its giving the customer the money in a different currency. The exchange can be cash for cash, cash for check or negotiable instrument, check or negotiable instrument for cash, or a debit/credit offset. These difference forms of currencies are referred as monetary items types.
The typical source of data used by the component's business logic is a table that contains the conversion rates between the currencies specified in the request criteria. Two implementation samples of Foreign Exchange data storage are provided: one sample stores the conversion rates in the FXRates DB2 table, and the other sample stores the conversion in an XML file, which is accessed by the UDTT ElementFactory.
Note The default implementation of the Foreign Exchange is a design and implementation template which you can refer to and implement the Foreign Exchange component according to your actual business requirements. The provided code of the Foreign Exchange component is only to assist you in the development of your applications. The code is provided "AS IS", without warranty of any kind. UNICOM® Systems, Inc. shall not be liable for any damages arising out of your use of the sample code, even if they have been advised of the possibility of such damages.