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Webinar Reminder | April 28 | “Bitcoin. Is this the New Reality in Corporate Treasury or is it a Hoax?”
| 27-04-2021 | VU Amsterdam |
Have you signed up for the webinar for tomorrow? Here is your reminder call, enjoy!
This Webinar is offered to you by the postgraduate programme Treasury Management & Corporate Finance at the School of Business and Economics.
Webinar Treasury Management in short
Date: Wednesday 28 April 2021
Time: 19.00 – 20.30 hrs.
Costs: Free-of-charge
Bitcoins are in the news. Opinions vary a lot in between “the new global currency standard” and “difficult to understand in practice and governance”. Corporate Treasurers need at least to have a start of an opinion. We see Tesla and other big corporates currently buying crypto currencies. What are opinions among corporate treasury professionals? Is investing surplus cash in crypto currencies the new reality in corporate treasury or is it a hoax?
Tristan Verhagen, a student in our TM&CF programme, will introduce the topic at this webinar. Tristan will share his provoking ideas about investing surplus cash in Bitcoin. Is this the New Reality in Treasury or a Hoax? Tristan wrote an academic paper on this subject and this has added value in terms of a new insight for the treasury professional and is very useful for experts as well as laymen to be updated on the issue.
Description Academic Paper
As the world grapples with the COVID-19 pandemic, it’s important for (institutional) investors and (corporate) treasurers to understand the effects of central bank and government intervention. Especially in the context of Bitcoin and the unique attributes it possesses. The role of central banks and governments in stabilizing the economy and the realization of economic growth in the aftermath of crises is becoming ever more important. Currently central banks and governments are “all in” to cushion the effect(s) of the current crisis. The response is considered to be bigger and broader than it was for the great financial crisis. Interest rates are historically low and central bank balance sheets have expanded considerably. This led to a significant increase in the money supply, which sparked a debate among economists about the implications for inflation.
When central banks and governments worldwide enact in ‘quantitative easing’ and increase the money supply, the associated fiat currencies depreciate in value. In contrast, Bitcoin experiences a ‘quantitative tightening’ (or reduction) of new supply as halving events programmatically decrease the number of new Bitcoin entering circulation regardless the demand for the asset. This feature is native to the digital protocol and possibly makes it the ultimate ‘store of value’ asset. During times of economic uncertainty and in a world where ‘software is eating the world’ more and more (institutional) investors and (corporate) treasurers are becoming convinced of the potential of Bitcoin. The paper/discussion aims to investigate to what extent this is justified.
Speakers
Tristan Verhagen MSc MSRE graduated in Strategic Management from Tilburg University. Real estate is the cornerstone of his career. He has worked for various real estate investors and is now Director Finance & Control at Eigen Haard. A few years ago, he fell through the Bitcoin rabbit hole and since then his views on money and monetary policy have changed significantly. He is open to the idea that Bitcoin’s unique properties will in the future lead to it becoming an important (macro) asset and therefore suitable for a large group of investors (e.g. insurance companies and pension funds).
Strong ideas are worth to have strong opposition, so we have two panel members to challenge the vision of the keynote speaker.
Wilko Bolt is a Senior Economist in the Economics and Research department at De Nederlandsche Bank in Amsterdam and Professor of Payment Systems at the Vrije Universiteit Amsterdam. His current research focuses on the payment economics, digital currencies, two-sided markets theory and antitrust implications. He has published in journals such as American Economic Review, European Economic Review, Economic Theory, International Journal of Industrial Organization, International Journal of Central Banking and Journal of Money, Credit and Banking. Bolt was awarded the Hennipman Prize by the Dutch Royal Economic Association in 2007 for his research.
Joan Schutte joined ASML back in 2014 as VP & Corporate Treasurer and is responsible for Treasury, Corporate Finance and Insurances globally. From 2010 to 2014 Joan was Director Treasury for VimpelCom (Veon) in Amsterdam. Before that, he worked 12 years for US based Sara Lee Corporation in various Treasury roles in Curaçao, Singapore and Chicago and as Finance Director for the global procurement function in Utrecht. Joan started his career in Treasury in Belgium for CSM NV and Campbell Soup Company. Joan holds a MSc in Economics from the University of Amsterdam. He serves on the Board of the Dutch Association of Corporate Treasurers (DACT) and has served on the Board of the Association of Corporate Treasurers Singapore (ACTS).
The webinar is moderated by Pieter de Kiewit, he is treasury aficionado, recruitment consultant and owner of Treasurer Search. Together with his team, Pieter finds candidates for interim assignments and permanent positions in corporate treasury. Pieter holds an MSc. in Organizational Science (Technische Bedrijfskunde, Universiteit Twente) and has over 25 years experience in international recruitment. In many ways he contributes to the treasury community by connecting people and companies. He supports educators, for example as a member of the management board of the RT programme of the Vrije Universiteit Amsterdam. On a regular basis he blogs, presents and moderates with the purpose to make treasury known by a bigger audience and facilitate experts to deepen their knowledge.
For whom?
We specifically invite our alumni of the PGO Treasury Management & Corporate Finance and those interested to join the programme and DACT members. Of course, those professionally involved in the subject, TreasuryXL – followers, are also very welcome to join. A truly inclusive (corporate) treasury community!
Save money instantly with a Foreign Currency Account (Dutch Item)
26-04-2021 | Erna Erkens | treasuryXL |
Als u Internationaal handelt of u wilt beleggen in vreemde valuta kan een Vreemde valuta rekening interessant zijn. U kunt zo’n rekening bij de meeste Nederlandse banken openen. Op een vreemde valuta rekening heeft u geen geldbedragen in Euros’s staan, maar in een buitenlandse vreemde valuta. Denk aan de Amerikaanse Dollar of de Japanse Yen. U kunt alleen girale transacties doen vanaf uw vreemde valuta rekening. Direct geld opnemen is niet mogelijk. Dan gelden er andere koersen.
Een vreemde valuta rekening voor internationale handel
Stel u heeft een bedrijf waarvoor u goederen wilt inkopen uit Azië. U heeft een goede leverancier gevonden, maar deze wil wel graag in dollars betaald worden. U heeft bij uw bank alleen een Euro rekening en betaalt daardoor de factuur in Euro’s. In deze situatie is uw bank verantwoordelijk voor de aankoop van de benodigde dollars.
De aankoop van de dollars door de bank wordt geregeld via een centraal betalingsverkeersysteem. De bank is in dit soort situaties niet altijd even aardig voor haar klanten. De bank rekent meestal ongeveer 1 cent marge voor iedere transactie.
Stel dat u uw leverancier uit Azië een bedrag van 100.000 dollar moet betalen. Uw bank rekent in dit geval tot 600 euro marge. Deze marge gaat weer af van uw eigen winstmarge.
En wat dacht u van grotere transacties zoals 1 miljoen dollar. Dan betaalt u de bank 5.000 tot 6.000 Euro’s aan marge!
Door zelf een dollarrekening te openen houdt u de aankoop van dollars in eigen hand en dat levert dus direct winst op.
Wisselkoers bij een vreemde valuta rekening
Als u een vreemde valuta rekening heeft geopend kunt u zelf bepalen op welk moment u de dollars
koopt om de factuur in dollars te betalen aan uw leverancier. Wel is het belangrijk dat het binnen uw bedrijf duidelijk is wie deze taak op zich neemt. De kosten (lees marge voor de bank) is dan een stuk lager. Hetzelfde geldt natuurlijk als u vreemde valuta ontvangt uit het buitenland. U kunt uw vreemde
valuta op deze rekening boeken. U kunt zelf bepalen op welk moment u deze weer verkoopt.
Degene die verantwoordelijk is voor betalingen vanaf de vreemde valuta rekening heeft wel een extra taak en het is wel handig om de wisselkoersen in de gaten houden. Dat kan helpen om de dollars of andere valuta op een goed moment te kopen of te verkopen.
Bron
Erna Erkens
How to make a quick business payment with a spot transfer
22-04-2020 | treasuryXL | XE |
Need to quickly send money overseas? A spot transfer may be the right payment solution for you.
In an earlier article, we went into depth on forward contracts, what they are, when you might want to use one for your business, and how to set one up. But they aren’t the only way to make an international business payment. You might be in a rush and want to send your transfer right now, as soon as possible, rather than scheduling a future transfer.
In that case, you would want to set up a spot transfer.
What is a spot transfer?
A spot transfer is the quickest, most simple way to make a business payment. You get your quote and confirm your money transfer, and then the currency will be purchased and sent as soon as possible.
Learn More
Why might you use a spot transfer?
As the name indicates, you’d want to use a spot transfer when you need to make a quick payment “on the spot”. There’s no preliminary work involved, nor would you need to do anything after confirming the transfer. All you need to do is enter your currencies, let us know how much you’d like to send and provide your payment method, and we’ll handle the rest.
Additionally, not all currencies or currency pairs experience the same amount of market volatility. If you’re consistently sending payments in a certain currency and haven’t seen much fluctuation in the rates or your costs, you might not need to set up a forward contract or market order to avoid future market volatility. A quick, simple spot transfer could be all you need.
How do you send a spot transfer?
Befitting their quick nature, spot transfers are quick and easy to initiate.
Sign in to your Xe business account. If you don’t have one, sign up. You can view a detailed guide to everything you’ll need to get started here.
Get your quote. Enter your currencies and the amount you’d like to send to see the send rate for your transfer.
Double-check everything. Before confirming your payment, confirm that all information is correct. This will include your currencies, the amount you’d like to send, the exchange rate, your recipient’s information, and your payment information.
Confirm your spot transfer. If you’re satisfied with your transfer, you can go ahead and confirm it.
Once you’ve confirmed your transfer, we’ll take care of the currency exchange and send it to your recipient.
Get Quote
What other kinds of transfers are there?
Spot transfers are the ideal payment method for quick, simple money transfers. However, if you’re interested in scheduling a payment for a future date, seeking the best exchange rate, or avoiding potential market volatility, spot transfers may not be the best option to meet all of your currency needs.
Are you interested in scheduling a payment for a future date? You may be interested in forward contracts.
Or would you like to wait for the best possible rate? You might be interested in a market order. Watch this space for an upcoming guide to those.
Get Started
Get in touch with XE.com
About XE.com
XE can help safeguard your profit margins and improve cashflow through quantifying the FX risk you face and implementing unique strategies to mitigate it. XE Business Solutions provides a comprehensive range of currency services and products to help businesses access competitive rates with greater control.
Deciding when to make an international payment and at what rate can be critical. XE Business Solutions work with businesses to protect bottom-line from exchange rate fluctuations, while the currency experts and risk management specialists act as eyes and ears in the market to protect your profits from the world’s volatile currency markets.
Your company money is safe with XE, their NASDAQ listed parent company, Euronet Worldwide Inc., has a multi billion-dollar market capitalization, and an investment grade credit rating. With offices in the UK, Canada, Europe, APAC and North America they have a truly global coverage.
Are you curious to know more about XE?
Maurits Houthoff, senior business development manager at XE.com, is always in for a cup of coffee, mail or call to provide you detailed information.
Visit XE.com
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