JSR 354 - Currency and Money
This JSR focuses on defining interfaces and classes to be used for currencies and monetary amounts. Generally the following areas are defined:
- Core This area defines the classes representing currencies and monetary amounts.
- Conversion This area deals with exchange rates between currencies and provides an API/SPI to perform conversion of monetary amounts from one currency to another.
- Format This area defines APIs/SPIs for formatting and parsing of currencies and monetary amounts, providing support for complex usage scenarios.
It is planned the the JSR will support both SE and ME environments. The reference implementation probably also will include further support for EE/CDI.
Scope and Use Cases
Generally the scope of the JSR is targeting all general application types, e.g.
- Banking and finance
- Insurance and Pension
Summarizing the scope can be defined as follows:
- Provide abstractions for currency and money suitable for all target applications
- Enhance, renew Currency, add support for non-ISO currencies
- Support complex calculation rules including calculation precision and display precision
- Support for regional rounding rules
- Basic support for foreign exchange, extendable for more complex usage scenarios
- A plain text representation of Money
- Printing/Parsing to
- Support for pluralization
- Provide APIs for historic access of currencies and exchange rates.
- Define a flexible query API tu support complex usage scenarios for exchange rates and currencies
Nevertheless there are some restrictions (features that are not in scope):
- It is not planned to target low latency such as Algorithmic Trading applications. Nevertheless we will try to keep performance in mind to accomodate such applications.
- Storing a value in multiple currencies (a single value type that is effectively a map of currency to amount, where the amounts are all notionally the same by some form of currency conversion)
- Large exchange rate system (as in a system suitable for trading, such as bid/ask)
- Non-decimal currencies http://en.wikipedia.org/wiki/Non-decimal_currency#Contemporary_non-decimal_currencies
Additionally the following features have been considered as optional:
- Providing static calculation utilities to those developers not using the JSR Money class (eg. those using an unwrapped double/long direcly).
The use cases derived can be found here.
Further Information and Source Code Access