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This same strategy should be reviewed with the FBC FCT/FTF on Monday, so that we are all on the same page.
Action items
- Elisa Kendall and Pete Rivett to review exchange rate definitions for quoted rates, per xe.com, especially with respect to the context of the purpose of the rate
- Elisa Kendall – add a property for hasQuotationDateAndTime to Indicators for quoted rates that change throughout the day
- Pete Rivett – need to consider adding the notation of an average rate with respect to some time period and context, for example, average over the course of a day – see xe.com and other related sites such as AmEx that quote exchange rates – as a retrospective rate, for example looking back over the course of the day at various rates
- Elisa Kendall – revise definition of quoted rate to allow for either forward or retrospective rates