Currency Movements can Materially Impact Your Margins, Cash Flow, and Pricing.
Currency Movements can Materially Impact Your Margins, Cash Flow, and Pricing.
For businesses operating internationally, FX risk isn’t optional — it’s a constant. Left unmanaged, it can erode profitability and create uncertainty across your entire operation.
For businesses operating internationally, FX risk isn’t optional — it’s a constant. Left unmanaged, it can erode profitability and create uncertainty across your entire operation.
Managing Currency Risk For Better Business Outcomes
Managing Currency Risk For Better Business Outcomes
Managing Currency Risk For Better Business Outcomes
What is FX Risk
Understanding exposure to foreign currency movements
Exposure to foreign currency movements
Payments or revenue in other currencies
Holding balances across multiple currencies
Currency movements directly impact your business profitability
Why It Matters
Unmanaged risk affects margins and financial stability
Impacts margins and overall profitability
Creates unpredictable and unstable cash flow
Reduces competitiveness in global markets
Unmanaged risk leads to uncertainty across operations
Why It Matters
Unmanaged risk affects margins and financial stability
Impacts margins and overall profitability
Creates unpredictable and unstable cash flow
Reduces competitiveness in global markets
Unmanaged risk leads to uncertainty across operations
Managing the Risk
Structured approach to control and reduce exposure
Protect margins through structured strategies
Improve predictability of future cash flow
Plan and scale with greater confidence
Effective management brings clarity, control, and stability
Managing the Risk
Structured approach to control and reduce exposure
Protect margins through structured strategies
Improve predictability of future cash flow
Plan and scale with greater confidence
Effective management brings clarity, control, and stability
Managing the Risk
Structured approach to control and reduce exposure
Protect margins through structured strategies
Improve predictability of future cash flow
Plan and scale with greater confidence
Effective management brings clarity, control, and stability
Thero’s Six Step Framework For FX Risk Management Strategy
Identify FX Exposure
Define Hedging Goals
Design a Hedging Program
Execute Hedging Strategy
Define Hedging Goals
Review and Compare
Identify and Quantify Your FX Exposure
Calculate your FX exposure by understanding how much you need to pay or receive.
Assess the timing, structure, frequency and certainty of your inflows/outflows.
Set and calculate your prices, budget, target and break-even levels.
Decide when to implement the hedging and for how long to maintain the protection.
Thero’s Six Step Framework For FX Risk Management Strategy
Identify FX Exposure
Define Hedging Goals
Design a Hedging Program
Execute Hedging Strategy
Define Hedging Goals
Review and Compare
Identify and Quantify Your FX Exposure
Calculate your FX exposure by understanding how much you need to pay or receive.
Assess the timing, structure, frequency and certainty of your inflows/outflows.
Set and calculate your prices, budget, target and break-even levels.
Decide when to implement the hedging and for how long to maintain the protection.
Thero’s Six Step Framework For FX Risk Management Strategy
Identify FX Exposure
Define Hedging Goals
Design a Hedging Program
Execute Hedging Strategy
Define Hedging Goals
Review and Compare
Identify and Quantify Your FX Exposure
Calculate your FX exposure by understanding how much you need to pay or receive.
Assess the timing, structure, frequency and certainty of your inflows/outflows.
Set and calculate your prices, budget, target and break-even levels.
Decide when to implement the hedging and for how long to maintain the protection.
Choose the Right Hedging Approach for Your Exposure
Choose the Right Hedging Approach for Your Exposure
Choose the Right Hedging Approach for Your Exposure
Static Hedging Program
Static Hedging Program
Static Hedging Program
Simple, structured approach suited for conservative risk management strategies
Simple, structured approach suited for conservative risk management strategies
Associated with a conservative risk profile
Straightforward to implement
Follows a set and forget approach
Rolling Hedging Program
Rolling Hedging Program
Rolling Hedging Program
Flexible approach with continuous adjustments to manage risk and volatility
Flexible approach with continuous adjustments to manage risk and volatility
Maintain a constant hedge ratio and smoothen volatility
Flexible, as you can continually adjust your positions
Continuous adjustments may lead to higher costs
Layered rolling hedging program
Layered rolling hedging program
Layered rolling hedging program
Flexible approach with continuous adjustments to manage risk and volatility
Flexible approach with continuous adjustments to manage risk and volatility
Maintain a constant hedge ratio and smoothen volatility
Flexible, as you can continually adjust your positions
Continuous adjustments may lead to higher costs
Forward Contracts You Can Enter With Thero Markets
Forward Contracts You Can Enter With Thero Markets
Forward Contracts You Can Enter With Thero Markets
Fixed Forwards
Lock in an exchange rate for a set amount at a future date. Best when you know exactly when you will pay or receive funds.
Guaranteed rate
Fixed maturity date
Better FX rate at maturity
Usage window
Flexible drawdowns
Window Forwards
Lock in an exchange rate and use it anytime within a defined period. Ideal when you need flexibility around settlement timing.
Guaranteed rate
Fixed maturity date
Better FX rate at maturity
Usage window
Flexible drawdowns
Non-Deliverable Forwards
Lock in a rate for restricted currencies, settled as a difference at maturity. Useful for exposure to less accessible FX markets.
Guaranteed rate
Fixed maturity date
Better FX rate at maturity
Usage window*
Flexible drawdowns
*Note: Thero Markets offers window NDF synthetics in many currencies. Also, the provision of some FX Products listed here is restricted to certain jurisdictions. Please get in touch with us to learn more about the products available in your country.
Let's explore the right solution for your business.
Contact our team of experts to learn how we can help you design a solution that best suits your business needs an goals.
Expert-led foreign exchange and international payments.
operations@thero-markets.com
Thero Markets Limited
Formal House,
60 St. Georges Place
Cheltenham,
England,
GL50 3PN
Thero Markets Limited (company registration number 16986548), trading as Thero Markets. Head office: Formal House, 60 St Georges Place, Cheltenham, England, GL50 3PN. Thero has carefully selected industry leading fintech and foreign exchange partners to provide our clients with regulated services and products:
Thero Markets Limited operates as a multi-agency currency broker. We maintain a strategic panel of regulated payment and investment partners, allowing us to source the most competitive pricing, diverse currency liquidity, and secure global payment routes for our clients. By working with multiple industry-leading institutions rather than a single provider, we ensure our clients benefit from a robust, flexible, and fully regulated financial infrastructure tailored to their specific cross-border needs.
Thero Markets’ Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Theromarkets is partnered with Ebury Partners UK Limited as a Programme Manager. Ebury Partners UK Limited is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Financial Services Register No. 900797). Ebury Partners UK Limited is registered with the Information Commissioner's Office, with registration number: ZA345828.
Sciopay: Foreign Exchange and Payment Services for customers introduced by Thero Markets to Sciopay Ltd are provided solely by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales with Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB) with Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution with Firm Reference Number: 927951
Please note: Testimonials and case studies shared on our website reflect individual customer experiences. Results may vary depending on personal circumstances. The rates displayed are live interbank rates, not the exchange rates which we offer, and are for indicative purposes only. Please contact us or log into the online platform for our Spot/Forward exchange rates.
1) Payment and e-money services (Non-MIFID related products) are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Registered Office: 1 Sheldon Square, London, W2 6TT, United Kingdom. The Currency Cloud Limited is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199) You can find Currency Cloud's terms here:
https://www.currencycloud.com/legal/terms
For clients based in the European Economic Area, the issuance of e-money and the provision of related payment services for Thero Markets Limited are provided by CurrencyCloud B.V. CurrencyCoud B.V. is registered with the Dutch Chamber of Commerce in the Netherlands under number 72186178. Registered office Mr. Treublaan 7, 1097 DP, Amsterdam, Netherlands. CurrencyCloud B.V. is licensed and regulated by De Nederlandsche Bank as an Electronic Money Institution (Relation Number: R142701).
2) For United States, Payment services for Thero Markets are provided by Visa Global Services Inc. (VGSI), a licensed money transmitter (NMLS ID 181032) in the states listed here:
https://usa.visa.com/legal/visa-global-services-licenses.html.
VGSI is licensed as a money transmitter by the New York Department of Financial Services. Mailing address: 900 Metro Center Blvd, Mailstop 1Z, Foster City, CA 94404. VGSI is also a registered Money Services Business (“MSB”) with FinCEN and a registered Foreign MSB with FINTRAC. For live customer support contact VGSI at (888) 733-0041
Expert-led foreign exchange and international payments.
operations@thero-markets.com
Thero Markets Limited
Formal House,
60 St. Georges Place
Cheltenham,
England,
GL50 3PN
Thero Markets Limited (company registration number 16986548), trading as Thero Markets. Head office: Formal House, 60 St Georges Place, Cheltenham, England, GL50 3PN. Thero has carefully selected industry leading fintech and foreign exchange partners to provide our clients with regulated services and products:
Thero Markets Limited operates as a multi-agency currency broker. We maintain a strategic panel of regulated payment and investment partners, allowing us to source the most competitive pricing, diverse currency liquidity, and secure global payment routes for our clients. By working with multiple industry-leading institutions rather than a single provider, we ensure our clients benefit from a robust, flexible, and fully regulated financial infrastructure tailored to their specific cross-border needs.
Thero Markets’ Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Theromarkets is partnered with Ebury Partners UK Limited as a Programme Manager. Ebury Partners UK Limited is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Financial Services Register No. 900797). Ebury Partners UK Limited is registered with the Information Commissioner's Office, with registration number: ZA345828.
Sciopay: Foreign Exchange and Payment Services for customers introduced by Thero Markets to Sciopay Ltd are provided solely by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales with Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB) with Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution with Firm Reference Number: 927951
Please note: Testimonials and case studies shared on our website reflect individual customer experiences. Results may vary depending on personal circumstances. The rates displayed are live interbank rates, not the exchange rates which we offer, and are for indicative purposes only. Please contact us or log into the online platform for our Spot/Forward exchange rates.
1) Payment and e-money services (Non-MIFID related products) are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Registered Office: 1 Sheldon Square, London, W2 6TT, United Kingdom. The Currency Cloud Limited is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199) You can find Currency Cloud's terms here:
https://www.currencycloud.com/legal/terms
For clients based in the European Economic Area, the issuance of e-money and the provision of related payment services for Thero Markets Limited are provided by CurrencyCloud B.V. CurrencyCoud B.V. is registered with the Dutch Chamber of Commerce in the Netherlands under number 72186178. Registered office Mr. Treublaan 7, 1097 DP, Amsterdam, Netherlands. CurrencyCloud B.V. is licensed and regulated by De Nederlandsche Bank as an Electronic Money Institution (Relation Number: R142701).
2) For United States, Payment services for Thero Markets are provided by Visa Global Services Inc. (VGSI), a licensed money transmitter (NMLS ID 181032) in the states listed here:
https://usa.visa.com/legal/visa-global-services-licenses.html.
VGSI is licensed as a money transmitter by the New York Department of Financial Services. Mailing address: 900 Metro Center Blvd, Mailstop 1Z, Foster City, CA 94404. VGSI is also a registered Money Services Business (“MSB”) with FinCEN and a registered Foreign MSB with FINTRAC. For live customer support contact VGSI at (888) 733-0041
Expert-led foreign exchange and international payments.
operations@thero-markets.com
Thero Markets Limited
Formal House,
60 St. Georges Place
Cheltenham,
England,
GL50 3PN
Thero Markets Limited (company registration number 16986548), trading as Thero Markets. Head office: Formal House, 60 St Georges Place, Cheltenham, England, GL50 3PN. Thero has carefully selected industry leading fintech and foreign exchange partners to provide our clients with regulated services and products:
Thero Markets Limited operates as a multi-agency currency broker. We maintain a strategic panel of regulated payment and investment partners, allowing us to source the most competitive pricing, diverse currency liquidity, and secure global payment routes for our clients. By working with multiple industry-leading institutions rather than a single provider, we ensure our clients benefit from a robust, flexible, and fully regulated financial infrastructure tailored to their specific cross-border needs.
Thero Markets’ Payment and Foreign Currency Exchange Services are provided by Ebury Partners UK Limited. Theromarkets is partnered with Ebury Partners UK Limited as a Programme Manager. Ebury Partners UK Limited is authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Financial Services Register No. 900797). Ebury Partners UK Limited is registered with the Information Commissioner's Office, with registration number: ZA345828.
Sciopay: Foreign Exchange and Payment Services for customers introduced by Thero Markets to Sciopay Ltd are provided solely by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales with Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB) with Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution with Firm Reference Number: 927951
Please note: Testimonials and case studies shared on our website reflect individual customer experiences. Results may vary depending on personal circumstances. The rates displayed are live interbank rates, not the exchange rates which we offer, and are for indicative purposes only. Please contact us or log into the online platform for our Spot/Forward exchange rates.
1) Payment and e-money services (Non-MIFID related products) are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Registered Office: 1 Sheldon Square, London, W2 6TT, United Kingdom. The Currency Cloud Limited is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199) You can find Currency Cloud's terms here:
https://www.currencycloud.com/legal/terms
For clients based in the European Economic Area, the issuance of e-money and the provision of related payment services for Thero Markets Limited are provided by CurrencyCloud B.V. CurrencyCoud B.V. is registered with the Dutch Chamber of Commerce in the Netherlands under number 72186178. Registered office Mr. Treublaan 7, 1097 DP, Amsterdam, Netherlands. CurrencyCloud B.V. is licensed and regulated by De Nederlandsche Bank as an Electronic Money Institution (Relation Number: R142701).
2) For United States, Payment services for Thero Markets are provided by Visa Global Services Inc. (VGSI), a licensed money transmitter (NMLS ID 181032) in the states listed here:
https://usa.visa.com/legal/visa-global-services-licenses.html.
VGSI is licensed as a money transmitter by the New York Department of Financial Services. Mailing address: 900 Metro Center Blvd, Mailstop 1Z, Foster City, CA 94404. VGSI is also a registered Money Services Business (“MSB”) with FinCEN and a registered Foreign MSB with FINTRAC. For live customer support contact VGSI at (888) 733-0041