BCR Publishing
We are the leading provider of news, market intelligence, events and training for the global receivables finance industry.
Working with industry leading organisations, experts, governments and universities, BCR Publications delivers expertise in factoring, receivables and supply chain finance to a global audience.
BCR has long been a beacon of innovation and excellence in the realm of receivables finance, playing an instrumental role in shaping the industry’s international landscape. Through its comprehensive conferences, insightful publications, and thought leadership, BCR has facilitated crucial dialogues and connections among industry professionals, driving forward the development of receivables finance globally.
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Back to the old days: Currency jargon in forex trading
14-01-2020 | Marco Lassche |
Nowadays the youth use apparently ‘stacks’ as a nickname for money. In forex we use already for a long time nicknames…
Recently I heard my son talking to one of his friends on the play station: “Hey bro, we need more stacks to go to the next level.”
“Hey Mate, I need a Cable (GBP/USD) in two”. Later on I understood, this meant I want a price quote for a GBP/USD in 2 million GBP at which you can buy/sell GBP against the USD.
Now you know that stacks is money, and a cable is GBP/USD, it is time for some more nicknames in currency (pairs), and some background explanation:
Please feel free to contact me if you need any further information or assistance in setting up a more professional framework for controlling your financial risks and cash management in a more efficient way.
Marco Lassche
Founder and Owner of at Bedrijfskostenexpert
Treasurer and Project Manager at Van Caem Klerks Group
treasuryXL Ambassador
Why corporate treasury is the recruitment niche for me
| 13-1-2020 | by Pieter de Kiewit |
My father was an engineer, he built roads and bridges around the world. One of his three kids following in his footsteps was a silent wish we knew about. Regretfully for him we all went in other directions, my sister and me at least landed engineering degrees. One of my first business management professors did teach me about building bridges but between functional areas. That is what I have been doing as a recruiter for the last 25 years and having a blast. 10 years ago I decided to only recruit in corporate treasury. Let me tell you why.
In a very simple way I always describe corporate treasury to laymen mentioning three tasks:
With this description I do not have to be afraid for sudden new competition, do I? But do know that during the crisis treasurers found solutions for the survival of their employers. They found funding to pay salaries, helped sales with creative financing solutions, making complex transactions reality. They helped companies not going bankrupt due to currency exposures and forced banks to offer better solutions at an acceptable rate.
Treasurers manage large sums and report directly to the CFO. They are involved in mergers & acquisitions, reorganisations and international expansion. They act in small numbers but have a huge impact. Corporate treasury changes continuously and creates new treasury bridges to better connect with traditional job types like accounting, tax and sales. Corporate treasury is currently automated quicker than many similar functional areas. The academic world is showing increasing interest. In the Netherlands the post graduate education at the Vrije Universiteit is becoming more prominent in the treasury community. Corporate treasurer is an exciting position, the secret is out!
What I am passionate about is helping CFOs, HR, internal recruitment and group treasurers with their staffing questions. Treasury teams are almost always small, building treasury recruitment expertise is not worthwile for corporate managers. That is why my colleagues and I can add value. An HR manager knows about assessments, we know about treasurer assessments. A CFO knows about equity deals, we know about treasurers having funding expertise in his specific industry. A group treasurer knows about treasury tasks, we know how these tasks are executed in other companies so he can compare. That is why we can deliver and have impact. That makes me enjoy my job so much.
This is why recruitment in corporate treasury is my niche and there is still builder of bridges in the family.
Pieter de Kiewit
Owner Treasurer Search
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Currency markets impacted by a number of factors as we open a new decade
| 9-1-2020 | treasuryXL | XE |
The markets have been exposed to some real turmoil. In the wake of the tensions in the Middle East, we have seen a general decline of stocks and move toward typical risk on plays – treasuries are up overall, gold is trending higher and so is oil. Very generally there are a number of themes affecting the major crosses.
Let’s get up to speed and examine these broadly:
GBP:
On one hand, there have been an increase of investment monetary inflows based on economic data. Add to this a general sentiment of rate hikes from the Bank of England still being on the table and a very likely sense of uncertainty or even fear from European exporters with the ECB under a great deal of pressure to stabilise/raise inflation (and be inventive in doing so) and Italy dragging the boat down somewhat there is every opportunity for the trade items to play out in a buoyed GBP. There are a few ‘watch out’ aspects, though. These may include things like monetary policy having been kept on hold due to Brexit (and there could be a case to see the Conservatives attempt to waylay Bank of England’s efforts to raise rates) and the possibility that investors have priced a recession into investment outlook. When reviewing 17 institutional banks’ forecasts for 2020, the consensus is for a rate to the Dollar of 1.3400.
USD:
Again, a tale with two sides to the coin. The Federal Reserve has added liquidity to the repurchase market (short version of this mini-crisis is: that the amount of available cash in this market dropped exactly as the demand for borrowing jumped which made interest rates look outlandish – the added liquidity settles this and resumes a better velocity of money, or speed of funds flowing through the economy). There are still some divisions remaining in terms of the Fed’s outlook for rates, meaning that stabilising and stopping rate cuts isn’t technically off the table. The uncertainty in the Middle East in the clash between the States and Iran means that investors have flocked to the safe-haven currency of the Dollar and add to this some very real concerns about the strength of the global economy and growth forecasts, meaning that safe haven movement could have longer to garner flight to the Dollar all could point to a near to medium term robust USD. Temper this view with some very conflicting US economic data, muted inflation price pressures and China getting rid of bonds – which would force the States to increase its balance sheet.
EUR:
The EUR has had a short-term increase in currency strength versus the GBP, but this is largely from uncertainties of how trade will be arranged in finalising Brexit. There are widespread concerns that, if a deal may not be organised in the timeframe allotted, the UK could default to trading with the EU on World Trade Organisation terms, which are far less favourable than a direct agreement. As earlier mentioned, though, the EU has significant issues brewing in the form of inflation control via the ECB and from a very poor economic performance by Italy in the last 8-12 months in particular. There are green shoots of good news, though, with preliminary German consumer inflation figures looking far better than expected – a significant contribution to solving their issues given Germany’s size and relative impact on the bloc. All things said and done, against the context of uncertainty from geo-political risks and fiscal/trade uncertainties as well, the EUR could well be the net loser in the coming weeks.
Elsewhere in the world, the cost of the bush fires in Australia are touted at being ~$2bn AUD and climbing, but of course, the cost of people’s lives and the lives and environment for their unique and rich wildlife ecosystem will be immeasurable. Our hearts go out to the people of Australia and the brave service people fighting the disaster.
GBPEUR: 1.1800
GBPUSD: 1.3198
EURUSD: 1.1183
The figures are based on the live mid-market rate, correct as of 08:30 GMT on 07/01/2020, and are provided for indicative purposes only. Live mid-market rates are not available to consumers and are for informational purposes only. The rates we quote for money transfer can be selected via the page on our website ‘Live Money Transfer rates’.
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