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Corporations have Competitive Advantage in FX Markets

Unlike other market participants, corporate FX exposures result from conducting their core business internationally, and, therefore, they do not have ROC (return on capital) thresholds when selecting flow or risk management strategies. Just one of many advantages
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Fallacy of Best Practices

Off-the-rack clothing is fine for most but not optimal for many. Nothing beats bespoke. The same is true for risk management, especially for larger and more diverse balance sheets with inherent offsets and potentially underutilized assets
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No such thing as a free lunch

Arbitrages - defined as gains without risk - do exist and can be easily accessed. The first hurdle is to identify opportunities which may be hiding in plain sight. Opportunities may result from, among others, solving structural inefficiencies, selling unused financial assets such as time-value and volatility
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