Hedging in Practice – Building a Corporate Programme

The Trading Floor with David Axtell · Apr 7, 2026 · 14m

Knowing what a forward contract is won't help you if you don't know how to use it inside an organisation.Episode 11 moves from theory to practice. David Axtell walks through how corporate hedging programmes actually work — the policies, the ratios, the instruments, and the mistakes that cost real money when treasurers get it wrong.He starts with the three types of FX exposure every international company faces: transaction exposure from committed cash flows, translation exposure from consolidating foreign subsidiaries, and economic exposure from competitive positioning. Most companies only…