Following the FX Global Code Following the FX Global Code: The FX Global Code explains the set of global principles of good practice in the foreign exchange (FX) market, and was introduced by the Bank for International Settlements (BIS) Markets Committee in May 2017. To date, over 500 market participants have signed Statements of Commitment to the FX Global Code. The FX Global Code aligns with the foreign exchange (FX) risk management best practices FX Initiative teaches to FX market participants, including FX sales teams and treasury professionals. The goal of the FX Global Code is to promote fairness in FX trading, and FX Initiative encourages our audience to learn about and benefit from the code in 2023. Download the FX Global Code PDF Ready to learn more about FX risk management best practices? Start your FX risk management training today, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples & events at FXCPE.com. Start FX Training January 30, 2024By FX Initiative General, Partnerships, Webinar accounting, business, collar, CPE, currency, derivatives, development, economics, education, events, examples, finance, forward, fxcpe, fxinitiative, global, hedging, initiative, international, learning, management, option, payments, professional, risk, training, treasury 0 0 Comment
FX Risk Management Maturity Model Foreign exchange (FX) risk management involves identifying, analyzing, and prioritizing various foreign currency exposures, and developing and implementing a coordinated and systematic plan that utilizes company resources efficiently and effectively to mitigate FX risk. The degree to which companies implement adequate foreign exchange risk management practices can vary substantially, from not managing the risk at all to engaging in robust hedging activities, and as a result, the impact on the bottom line can vary widely across organizations. This FX Risk Management Maturity Model outlines the 5 stages of a comprehensive currency risk management program. The process involves performing a FX risk assessment, developing a FX risk management policy, and implementing progressive FX hedging strategies. 5 Stage FX Risk Management Maturity Model FX Risk Assessment: Exposure Identification & Measurement FX Risk Management Policy: Hedging Guidelines & Procedures Balance Sheet Hedging: Booked Receivables & Payables Cash Flow Hedging: Forecasted Revenues & Expenses Net Investment Hedging: Subsidiary Earnings & Equity The design and implementation of a FX risk management program must take into account the specific goals and objectives of the firm, the organizational structure and operations, the line of products and/or services, and any other variable that may be material and of relevance. For firms that are new to foreign exchange risk management, emphasis should be placed on progress over perfection. Initial risk management plans are never perfect, and should be viewed as a process that is responsive to change and capable of continuous enhancement. To learn more about FX risk assessments, policies, and hedging strategies, start your FX risk management training today, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples & events at FXCPE.com. Start FX Training January 23, 2024By FX Initiative FX Risk Management, General accounting, business, cashflow, CPE, currency, derivatives, development, economics, education, events, examples, finance, forex, forwards, fxcpe, fxinitiative, global, hedging, initiative, international, learning, management, options, payments, professional, risk, training, treasury 0 0 Comment
Mapping Currencies Across Countries Mapping Currencies Across Countries: It is evident that no one single world currency exists. There are over 180 currencies recognized as legal tender in circulation throughout the world. The most widely used list of currencies is known as ISO 4217, which is a standard published by the International Organization for Standardization or the ISO. The ISO is an international standard-setting body composed of representatives from various national standards organizations, and the ISO 4217 currency codes shown in this interactive map are used in banking and business globally. While many of us are familiar with the “Major” currencies, which include the euro, British pound sterling, Australian dollar, New Zealand dollar, United States dollar, Canadian dollar, Swiss franc, and Japanese yen, there are so many more currencies to explore. This interactive map helps you explore the world through the lens of currency. All 180 currencies in circulation are mapped using geographic coordinates and ISO 4217 currency codes. Simply click on the dots on the map to reveal the ISO 4217 currency code, currency name, country. To learn more about conquering currency risk, start your FX risk management training today, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples & events at FXCPE.com. Start FX Training January 16, 2024By FX Initiative General accounting, business, CPE, currency, development, education, events, examples, finance, fxcpe, fxinitiative, global, hedging, initiative, international, learning, manangement, payments, professional, risk, trading, training, treasury 0 0 Comment
January 2024 Newsletter New Year Knowledge: Read our January newsletter and discover the latest blog posts and insights from FX Initiative on currency risk management. We help finance, accounting, treasury, and sales professionals stay up to date with new training content, CPE webinars, and helpful tips & resources. Scale the learning curve quickly and easily with our foreign exchange risk management training, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples and events at FXCPE.com. Start Training > View Newsletter January 2, 2024By FX Initiative General accounting, business, CPE, cross border, currency, derivatives, development, economics, education, events, examples, finance, financial reporting, fxcpe, fxinitiative, global, hedging, initiative, international, learning, management, operations, payments, professional, risk, training, transactions, treasury 0 0 Comment
Happy New Year from FX Initiative! Happy New Year from FX Initiative! FX Initiative is thankful for your support throughout 2023, and we wish you a safe and successful 2024! December 26, 2023By FX Initiative General accounting, business, cashflows, CPE, currency, derivatives, development, earnings, economics, education, evevnts, examples, FASB, finance, fxcpe, fxinitiative, global, hedging, IASB, initiative, international, learning, managment, payments, professional, risk, trading, training, treasury 0 0 Comment
FX Initiative Year End Feedback FX Initiative End-of-Year Feedback: Help us enhance your experience using FX Initiative in 2024 and beyond! Thank you for supporting our mission throughout 2023 to teach FX risk management best practices. Please share what you like about our FX training and how we can do better. Take our short survey here: https://www.fxcpe.com/feedback > Start Survey December 19, 2023By FX Initiative General accounting, business, CPE, cross border, currency, derivatives, development, education, events, examples, finance, forex, fxcpe, fxinitiative, global, hedging, initiative, international, learning, management, operations, payments, professional, risk, trading, training, transactions, treasury, webinars 0 0 Comment
December 2023 Newsletter December Professional Development: Read our December newsletter and discover the latest blog posts and insights from FX Initiative on currency risk management. We help finance, accounting, treasury, and sales professionals stay up to date with new training content, CPE webinars, and helpful tips & resources. Scale the learning curve quickly and easily with our foreign exchange risk management training, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples and events at FXCPE.com. Start Training > View Newsletter December 5, 2023By FX Initiative General accounting, application, blog, business, cashflows, cpe, currency, demonstration, derivatives, development, economics, education, events, examples, finance, forex, fxcpe, fxinitiative, global, hedging, initiative, insights, international, management, newsletter, payments, professional, risk, simulation, theory, training, treasury, vizualization 0 0 Comment
Recognizing FX Revenues & Receivables Recognizing FX Revenues & Receivables (Video): Explore the economic and accounting similarities and differences between forecasted and booked foreign exchange (FX) transactions using the FX Transaction Simulator tool. To learn more, start your FX risk management training today, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples & events at FXCPE.com. Start FX Training November 28, 2023By FX Initiative FX Risk Exposures, FX Transaction Simulator accounting, business, cashflows, corporate, CPE, currency, development, economics, education, events, examples, FASB, finance, forex, fxcpe, fxinitiative, global, hedging, IASB, initiative, international, learning, management, multinational, payments, professional, risk, SEC, trading, training, treasury 0 0 Comment
Happy Thanksgiving from FX Initiative! Happy Thanksgiving from FX Initiative! To our valued clients, partners, and team, we are grateful for all you’ve done for our business this year. On this holiday, we want to make sure you know how much you’re appreciated and how much we value your contributions. We hope you have a joyous holiday and we look forward to serving your foreign exchange risk management needs well into the future. On behalf of FX Initiative, we wish you, your family, and loved ones a wonderful Thanksgiving holiday. FX Initiative: Currency Risk Management Training November 21, 2023By FX Initiative General accounting, ASC, business, cashflows, corporation, CPE, currency, derivatives, development, economics, FASB, finance, fxcpe, fxinitiative, global, happy, hedging, IASB, initiative, international, management, payments, professional, risk, thanksgiving, trading, training, transactions, treasury 0 0 Comment
Exploring FX Economic Risk Exploring FX Economic Risk (Video): Explore the concept of foreign exchange (FX) economic risk and recognize its macro impact on the financial statements and global business opportunities. This video is a preview of FX Initiative’s FX Risk Exposures course as part of Learning Objective #1. To learn more, start your FX risk management training today, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples & events at FXCPE.com. Start FX Training November 14, 2023By FX Initiative FX Risk Management, General accounting, ASC 815, ASC 830, business, cashflows, currency, development, economics, fair value, FASB, finance, FXCPE, FXInitiative, global, hedging, IASB, initiative, international, management, net investment, payments, professional, risk, trading, training, treasury 0 0 Comment