Hi Guys,
Quick question if you don't mind. The Federal Reserve of New York post official foreign exchange rates at 12 noon EST everyday. You can subscribe to their site and get notification of these rates via email or RSS feed. Unfortunately, neither of these methods are much use to me, as they are delayed by several minutes and in some extreme cases, by up to an hour! I emailed the Fed to ask if it was possible to get immediate notification and if so how. The response I received was not suitable for someone of my limited intelligence!
lol They referred me to this page:
http://www.newyorkfed.org/markets/pilotfx.html
My eyes glazed over the second I read that they used bath soap to communicate!
Soooo...
Unless any of the great minds here can enlighten me (in English please) how to make use of their web service, I'll tell you what I tried next. Ok, we've established that I am dumb. I am also very lazy and so I used the mighty Google to see if there were any services out there that might have access to the rates in a timely manner. I found this company that purports to do what I want:
http://www.strikeiron.com/productdetail.aspx?p=318
I used their free trial and they were just as slow as the Fed's emails, so I would not recommend them.
After all is said and done, my questions are these:
1. Can anybody explain how to use the Fed's own web service in simple language?
2. If not, can you give me any websites/companies that will provide the service I require?
I know you may wonder why I am so obsessed with all this, so I will tell you. If you look at various brokers prices, you will no doubt have seen that they can be a little different from one another. The official noon rates are when everyone has to be in tow, therefore if there is a discrepancy between the official and the actual, the latter has to get in line with the former and there are a number of possible trading opportunities and exploits available.
If any genius here can give me the info I require, you'll get... well, you'll get nothing quite frankly, but you can be content in the knowledge that you have helped out a fellow human being, so that should be incentive enough!
Best regards,
Ian
Quick question if you don't mind. The Federal Reserve of New York post official foreign exchange rates at 12 noon EST everyday. You can subscribe to their site and get notification of these rates via email or RSS feed. Unfortunately, neither of these methods are much use to me, as they are delayed by several minutes and in some extreme cases, by up to an hour! I emailed the Fed to ask if it was possible to get immediate notification and if so how. The response I received was not suitable for someone of my limited intelligence!
lol They referred me to this page: http://www.newyorkfed.org/markets/pilotfx.html
My eyes glazed over the second I read that they used bath soap to communicate!
Soooo...
Unless any of the great minds here can enlighten me (in English please) how to make use of their web service, I'll tell you what I tried next. Ok, we've established that I am dumb. I am also very lazy and so I used the mighty Google to see if there were any services out there that might have access to the rates in a timely manner. I found this company that purports to do what I want:
http://www.strikeiron.com/productdetail.aspx?p=318
I used their free trial and they were just as slow as the Fed's emails, so I would not recommend them.
After all is said and done, my questions are these:
1. Can anybody explain how to use the Fed's own web service in simple language?
2. If not, can you give me any websites/companies that will provide the service I require?
I know you may wonder why I am so obsessed with all this, so I will tell you. If you look at various brokers prices, you will no doubt have seen that they can be a little different from one another. The official noon rates are when everyone has to be in tow, therefore if there is a discrepancy between the official and the actual, the latter has to get in line with the former and there are a number of possible trading opportunities and exploits available.
If any genius here can give me the info I require, you'll get... well, you'll get nothing quite frankly, but you can be content in the knowledge that you have helped out a fellow human being, so that should be incentive enough!
Best regards,
Ian