Understand Currency Flows: Map all incoming and outgoing currency flows, transaction volumes, and key payment corridors. Identify primary and secondary currency exposures.

Define Objectives: Clearly articulate the goals, such as minimizing FX costs, protecting margins from volatility, offering more competitive rates to customers, or improving execution speed.

Review Current Operations: Analyze existing FX sourcing methods, hedging practices (if any), banking relationships, and any current pain points related to FX conversion and risk.

Liquidity & Pricing Strategy: Determine the optimal approach for sourcing FX, whether it’s direct relationships with multiple liquidity providers, using prime brokers, or leveraging sophisticated aggregation technology to ensure the most competitive rates.

Hedging Framework: Develop a robust currency risk management framework. This includes recommending appropriate hedging instruments (e.g., spot, forwards, options), defining risk tolerance, and establishing clear policies for managing open currency positions.

Technology & Automation Blueprint: Outline the necessary technology integrations for automated rate fetching, trade execution, and real-time position management to enhance efficiency and reduce manual errors.

Onboard & Integrate: Facilitate the onboarding process with selected FX liquidity providers and integrate chosen FX management platforms with the client’s existing operational and accounting systems.

Execute & Monitor: Begin executing FX transactions according to the defined strategy. Establish key performance indicators (KPIs) to monitor execution quality, cost savings, hedging effectiveness, and adherence to risk policies.

Adapt & Refine: Regularly review the FX solution’s performance against market conditions, regulatory changes, and the client’s evolving business needs. Continuously optimize sourcing strategies, hedging approaches, and technology utilization to ensure sustained efficiency and profitability.