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  • Foreign Exchange Markets and Currency Risk Management

Foreign Exchange Markets and Currency Risk Management

  • Banking and Financial Markets, Bonds & Fixed Income Markets, Corporate Treasury, Foreign Exchange, Fund Management, Retail Banking
  • Duration: One day
  • Information

    The Foreign Exchange markets have never been busier, or more volatile and risky. This course looks at the FX markets, and how to manage currency risk, from a professional, practical perspective. This programme will explore and explain the FX markets from both the sell side (banks) and buy side (corporate and asset managers) perspective.

    New market initiatives such as e-FX and CLS will be introduced, and all terminology and jargon will be fully explained.

    No prior knowledge is assumed. Clients who would benefit from attending this course would be anyone who requires a good, practical understanding of Foreign Exchange, and the associated risks. This would include treasury management and staff , banking personnel, and people who work in the Financial Services sector.

    What will I get out of it?

    • A practical introduction to the Foreign Exchange Markets, the products and the risks.

    • A clear understanding of the impact that currency movements can have on a company

    • How to evaluate, monitor and control currency risks, and formulate an appropriate hedging policy


    Session 1:

    Introduction and Market Background

    • Historical Overview – the salient points

    • BIS data, latest FX sector growth

    • London and its position in the daily trading cycle

    • Market participants and their motivations;

    • Hedgers, traders, arbitrageurs

    • FX Risk;

    • Banks, Corporates, Fund Managers

    • Different currency classifications: major, minor, crosses, emerging markets

    Session 2:

    Economics of Foreign Exchange

    • What drives the market? Why do exchange rates move?

    • Long and short term influences

    • Supply and Demand

    • Economic indicators, breaking news, uncertainty and rumour

    • Government policy and intervention.

    • PPP

    Session 3:

    Mechanics of Foreign Exchange

    Market operations:

    • Timing, Procedures and practices

    • Spot FX quotes

    • Carry plays

    • Case study

    Session 4:

    Forward Foreign Exchange

    • Relationships with interest rates

    • Forward points, Premiums and discounts

    • Currency Options overview

    Session 5:

    Currency Risk Management

    • Transaction, Trading, Competitive, Translation,

    • Exposure Management Process

    • Practical Aspects of a Hedging Policy

    • Strategic VS Dynamic Hedging

    • Getting the best prices from your bankers

    Session 6:

    Market Initiatives

    • Electronic trading Systems e.g. EBS, Reuters

    • FX Portals, e.g. FXAll

    • Continuous Linked Settlement (CLS)

    • Straight Through Processing (STP)

    • Real Time Gross settlement (RTGS)

    • Future implications with global financial markets

    Course Close

    Register interest

    As every course we run is tailored to meet the specific needs of each client, we can only provide an estimate after fully understanding your specific requirements. Please complete the form below of call +44 (0) 208 894 4977 to discuss how Taylor Associates can help you.

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