Program Outline

1. Understand how the global foreign exchange markets work on a daily basis
    a. History of Foreign Exchange
    b. Modern Times
    c. The Foreign Exchange Market Today
        i. Trade-able Currencies
        ii. NDF's - Non-Deliverable Forwards
        iii. Technical Jargon

2. The Operation of the Spot, Forward and Emerging Markets in Practice
    a. Spot Market
    b. Forward Market
    c. Futures
    d. Options
    e. In-class Exercise

3. The Latest Trends Dan Innovations in the Markets
    a. Internet Based Portal
    b. Retail FX Trading

4. Types of FX Exposure
    a. Transaction Exposure
    b. Translation Exposure
    c. Strategic/Economic Exposure

5. Risk Management Process
    a. Determine a Company's Risk Appetite
    b. Identifying Exposures
    c. Measuring Exposures
        i. Scenario Analysis
        ii. Sensitivity Analysis
    d. Implementing an Appropriate Risk Management Strategy
    e. Monitoring the Exposure to Evaluate and Measure the Strategy
    f. Accounting Issues

6. Real World Applications, Exercises and Case Studies
    a. Case Study - Corporate Hedging Program

7. Establishing and Monitoring Banking Relationships
    a. Terms of Engagement
    b. Execution
    c. RAROC
    d. Value Added Services

8. Financial Risk Management
    a. Why are We Hedging?
        i. Reduce Volatility
        ii. Lock in Value of Revenues, Expenses, Assets and Liabilities
        iii. Defer the Effects of Foreign Exchange Movements
        iv. Maintain Pricing Power in the Event of Adverse Currency Movements

9. Current Markets: What's Next?

10. Summary