Miss a recent event or looking to review the key takeaways?

The NorCalWTC provides recaps and valuable content on this page following our in-person networking and trade education events. Were you unable to participate in a recent event? Hoping to review the most important discussion points? This is your home for the latest from our International Business Roundtable Series, International Marketing Professionals Connection, workshops, seminars and more.


International Business Roundtable Recap: 

Foreign Exchange Risk Mitigation

 

”What we anticipate seldom occurs: but what we least expect generally happens.” 

Benjamin Disraeli

 

This is an appropriate quote for a conversation about foreign exchange, the focus of the Northern California World Trade Center’s (@NorCalWTC) first Bay Area International Business Roundtable, which was held at BPM– a distinguished accounting and consulting firm.

The businesses represented around the table included an international fleet sales group, advanced manufacturers, a recycler, and a coating company (for large scale projects).  Everyone attended to hear from Michael Bourke, Managing Partner of Bannockburn Global Forex, a non-bank provider of foreign exchange payments and risk management services, whose purpose is to reduce the cost to companies whenever transacting in foreign exchange.

Key Takeaways

For any company interested in foreign exchange, the following important basics were covered and should be understood:

  • Currency markets are extremely volatile
  • Understand and identify your currency exposures, and make sure everyone in your company understands those exposures
  • Introducing foreign currency exposure/hedging into your day-to-day dealings should not be a concern or preventive to reviewing your current approach
  • Implementing a hedging strategy can lead to certain cashflows and minimize margin erosion
  • Hedging is not all or nothing –can do both / be dynamic
  • You don’t need to be a FX expert – but you need to work with someone you trust.

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About Bannockburn Global Forex

Bannockburn Global Forex saves clients money by providing transparency to currency markets and helping companies to understand the risks conducting business internationally. Their focus on foreign exchange provides tight pricing and best in class advice surrounding hedging policy and execution strategy, resulting in companies achieving certainty of cashflows and protecting margins. In addition to reducing currency volatility for companies, working with Bannockburn can provide the potential to explore new or additional opportunities in international markets through currency risk management strategies.


Past Recaps:

Reduce taxes and streamline your company’s international accounting.
– Review tips at Recap: International Accounting.

Miss our October roundtable?
– Visit Recap: Establishing Partnerships Internationally to catch up on what you missed. 

Looking for information on the Foreign Corrupt Practices Act?
– Visit Recap: Navigating Corruption in Foreign Markets for our key takeaways and tips.

Your company is growing internationally, and fast. Now what?
– Read the takeaways about sustainable international growth.