Forum Discussion

Angelika's avatar
Angelika
New Contributor
2 years ago

FX Data Feed - Actual Rates - Automate from different Source like ECB or OAND

Hi, looking for experience and OS counterparts for support to automate ( plugging it directly in OneStream from source) FX Data Feed. Concern currency is USD.

Which source are used - OANDA, Eurpean central bank or other sources? How does this work to get actual closing Rate, YTD Rate and for information purpose monthly average rate in the system?

Actually we are loading every month from ECB into csv, working in excel - convert from Euro into USD for each currency, closing, YTD and average and than loading - set cells - into OneStream.

Thank you

Angelika

 

FX Rates
  • NicolasArgente's avatar
    NicolasArgente
    2 years ago

    Hi Angelika 
    To be honest, I do dot recall the specificities. As long as the ECB is providing you the information from their api, then we can do anything with those rates, even calculates/recalculates/adj/compare/... before storing it to the FX table.
    Please give a kuddo if it helps,
    Nic

  • NicolasArgente's avatar
    NicolasArgente
    Valued Contributor
    2 years ago

    Hi Angelika 
    Ideally you would have a button on a dashboard in onestream that you just press to retrieve the rates from the ECB. Or even, a task scheduler that retrieves overnight the rates for you.
    It is possible to achieve that in OneStream by using the api from the ECB. 
    You would need to write a business rule connector to connect to the ECB api and update the FX rates. But first, investigate to which api from ECB you will need to connect. Which api as the correct information? what you are looking for is a kind of URL : https://data.ecb.europa.eu/help/data-examples 
    I have done connection to ECB in the past.
    Have a good day.
    Nic


    • Angelika's avatar
      Angelika
      New Contributor
      2 years ago

      Hi Nicolas,

       

      NicolasArgente wrote:

      Hi Angelika 
      Ideally you would have a button on a dashboard in onestream that you just press to retrieve the rates from the ECB. Or even, a task scheduler that retrieves overnight the rates for you.
      It is possible to achieve that in OneStream by using the api from the ECB. 
      You would need to write a business rule connector to connect to the ECB api and update the FX rates. But first, investigate to which api from ECB you will need to connect. Which api as the correct information? what you are looking for is a kind of URL : https://data.ecb.europa.eu/help/data-examples 
      I have done connection to ECB in the past.
      Have a good day.
      Nic
      Hi @Nicolas,

      thank you very much, great help. Do you load data via connector from ECB 1 time in a month - different currecy convert to USD? Are you calculating in OS average monthly rate (daily rates in month) and YTD rate (monthly average Rate)? 

      Thank you

      Angelika

       

       

       

  • NicolasArgente's avatar
    NicolasArgente
    Valued Contributor
    2 years ago

    Hi Angelika 
    To be honest, I do dot recall the specificities. As long as the ECB is providing you the information from their api, then we can do anything with those rates, even calculates/recalculates/adj/compare/... before storing it to the FX table.
    Please give a kuddo if it helps,
    Nic

  • MarcusH's avatar
    MarcusH
    Contributor III
    2 years ago

    Hi Angelika

    We download FX Rates from the client's national bank. They don't explicitly publish an API so it was a matter of opening the web pages and working out the syntax from the web address.

    As part of the month end preparation there is a workflow step that downloads the rates and then saves them to the FX Rates (monthly and daily). It uses a Data Source - Connector which calls a Connector BR from the Connector Name setting. The BR imports System.Web and System.Net and then it creates a WebClient:

     

    Imports System.Web
Imports System.Net
Dim client As WebClient = New WebClient()

     

    This then opens the specified web address:

     

    Using reader As StreamReader = New StreamReader(client.OpenRead(thisAddress))

     

    That returns the contents of the web page into the variable 'reader'. The contents are processed and saved to a datatable. That datatable becomes the Stage data. The final step is to save the FX rates to the application. That step uses a TransformEventHandler which reads the Stage data and uses BRApi.Finance.Data.SetFxRate to write the FX Rate.

    HTH

    Marcus