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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

Schedule

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.