MANUFACTURER

As a UK manufacturer, we already had a strong working relationship with our bank for our foreign exchange requirements. Richard and Mark were careful not to disrupt that relationship, but instead offered to explore whether they could add value in other areas.

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Following several face-to-face meetings and a thorough understanding of our business, they developed a rolling monthly hedging programme combining forward contracts and options.

As a business, we don't look to speculate on our US dollar income. What particularly appealed to us was the flexibility within the structure, allowing our hedging rate to respond to favourable market movements over time.

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Operating in a highly competitive industry where margins are tight, this tailored approach has proved particularly valuable.

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Given the size of our monthly currency exposures, Richard and Mark also designed a programme of smaller, regular transactions, building our overall position gradually rather than concentrating everything into a single trade. This helped smooth our average exchange rate over time and manage the impact of market volatility.

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We regularly receive unsolicited approaches from foreign exchange providers, often making ambitious promises. Richard and Mark offer something very different. Their approach is consistent, thoughtful and focused on our long-term interests. They take the time to understand our business and remain closely involved in managing our currency requirements.

 

They are, quite simply, an extension of our team.