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For corporate treasurer roles/functions!
What’s the best hedging program for your business? Take Kantox’s 1-minute assessment
26-09-2022 | treasuryXL | Kantox | LinkedIn |
Have you seen Kantox’s Currency Management Toolkit?
With rising interest rates, increasing inflation and today’s highly volatile environment, it’s more important than ever for your company to be protected against currency risk.
Take Kantox’s 1-minute assessment and discover the best FX hedging program for your business. You’ll find out which program can most effectively handle your FX needs, help you achieve your goals, and keep you ahead of the curve.
👉 Get started here
International Treasury Management and Corporate Finance
22-09-2022 | François de Witte | treasuryXL | LinkedIn
Register Here
Description
The treasurer is the custodian of the company’s daily liquidity. He manages, anticipates and secures cash flows by ensuring that financial needs are covered. This cursus will give the ability to assist directly and practically the treasurer of large corporates or to take over the treasury responsibilities in a SME. The different modules will allow you to acquire the fundamentals of the different areas of the “Corporate Treasurer” profession.
Module 0 – Introduction to Treasury Management
Speaker: Benjamin Defays / Treasury Manager
Bank account opening/closing
KYC
Payments and bank connectivity
Liquidity structures
Cash forecast
Importance of working capital
Factoring/reverse factoring
Main financial measures
Economic thinking
Risk Measures
Hedging
Fraud risk
Credit risk
General context
Bank guarantees
Letters of credit
Module 1 : Payments, Cash Management and Banking Relations – Fundamentals
Speaker François De Witte / Consultant
Payment and interbank clearing and settlement methods.
Payments instruments, processes and tools
Electronic banking channels
Working capital, cash and liquidity management – basic concepts
Day to day cash management
Organisation of the cash management and tooling
Financing the company
Basic insights in managing banking relationships
Module 2 : Risk Management Applied to Treasury – Fundamentals
Speaker: François Masquelier / Group Treasurer
Module 3 : Trade Finance Applied to Treasury – Fundamentals
Speaker: Benjamin Defays / Treasury Manager
Module 4 : Credit and Collection Applied to Treasury
Speaker: Benjamin Defays / Treasury Manager
Module 5 : Cyber-fraud: what you need to know to manage this ever increasing risk
Speaker: Thierry Hamon / Cash management & Cybersecurity expert
Public cible
Anyone who wants to acquire basic knowledge of corporate treasury and put this knowledge into practice.
Prerequisites
Conditions
Training material
Course material will be provided at the beginning of the course.
Location
L-1615 Luxembourg
Luxembourg
Register Here
François de Witte
What is Pricing Risk (FX Risk) and how to deal with it?
22-09-2022 | Harry Mills | treasuryXL | LinkedIn
Also known as pre-transaction risk, pricing risk occurs between a transaction being priced and agreed upon. It materialises when exchange rates change after a quote has been delivered, either impacting the sales margin or incurring a re-price. treasuryXL expert Harry Mills, founder & CEO of CEO Oku Markets, will explain to us what Pricing Risk is all about, and how to deal with it.
By Harry Mills
Source
Who experiences pricing risk?
Businesses experience pricing risk to a greater or lesser extent depending on the nature of their business, their marketplace, and their sales and purchasing cycles. We find it helpful to consider the following initial points when assessing pricing risk:
A transaction is “FX-denominated” when it is in a currency other than the firm’s functional currency. An example is a UK business providing a quote to an Irish business for an export sale denominated in euros (instead of GBP).
How much influence? An example…
You’ll likely have an intuitive idea of the level of influence that fluctuations in FX rates have on your transactions, but consider a UK company that designs and builds high-end bespoke summer houses (why not?):
One-Size doesn’t fit all
Getting to grips with pricing risk can be fairly straightforward for FX-denominated transactions with a straight-through and linear FX impact on the price, but most businesses have a more complex setup.
Many businesses are converting from a just-in-time to a just-in-case stock strategy. which can bring complexity and may add to pricing risk. It’s our view, here at Oku Markets, that there is no one-size-fits-all approach for currency management, so here’s a few areas to think about:
Pricing risk can impact procurement and sales, although we mostly think about the pricing that we are delivering. What about the pricing we receive, as customers? It’s not uncommon for Chinese exporters to add a large buffer to their prices to factor in fluctuations and depreciation in the USDCNY exchange rate. Read more about China and the yuan.
So it’s worth considering and asking your suppliers and international partners about how they manage FX – is there an opportunity for increased transparency and better terms by tackling the problem together?
FX Risk Map
It might be helpful to visualise the lifecycle of a transaction to identify when currency risk occurs. Again, there is no one-size template for this – every business’ FX Risk Map will look a little different, but here’s a basic setup to get started with:
Dealing with Pricing Risk
Three ways you can reduce pricing risk and deliver more consistent results are:
The most appropriate route or combination of mitigating actions is unique to each business. An online travel company delivering live holiday prices will require higher frequency updates to FX rates and a tighter quote expiry date and FX buffer when compared to a company providing quotes for custom-designed summer houses.
When it comes to an FX buffer, we suggest considering the volatility of the currency pair and adjusting for the relevant quote period.
Let us help you quantify your FX risk
Quantifying currency exposure requires thought and specialist skills and expertise. Most FX brokers lack the capabilities to do this properly, resorting instead to emotionally-charged deal-making which can result in poor outcomes for clients.
We’re proud to work transparently with our clients, and we work hard to break the asymmetry of knowledge and information in the FX market.
You can contact us for a review of your currency processes and for our guidance and suggestions at [email protected] or 0203 838 0250.
Thanks for reading 👋
Harry Mills, Founder at Oku Markets