As clearly highlighted by the Brexit induced currency volatility, UK based importers and exporters have their own challenges when managing foreign currency cashflows. However, the approach to FX management is the same as how we approach it in New Zealand and Australia. Foreign currency cashflows (known or forecast) are identified and quantified, then hedging contracts such as forwards and options are entered to mitigate the impact of current fluctuations on P&L.
The UK, therefore, is a natural market for the Hedgebook software and as such we have opened a UK office in London. Wicked, innit?
As Hedgebook’s UK Client Relationship Director, Graham Dockrill, says, “The UK operates under the same IFRS accounting regime as New Zealand and Australia, plus the importers and exporters based here have an equally volatile foreign exchange landscape to navigate as those companies based in Australasia. Hedgebook is fit for purpose here in the UK and there are literally tens of thousands of companies in the SME space that can benefit from Hedgebook’s easy-to-use software. My goal is to introduce Hedgebook to these companies so they can manage this significant risk to their businesses and make better hedging decisions.”