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NDAQ » Topics » HEDGING OF CURRENCY TRANSACTION EXPOSURE

This excerpt taken from the NDAQ 8-K filed Aug 1, 2008.

HEDGING OF CURRENCY TRANSACTION EXPOSURE

The table shows a summary of outstanding futures as of December 31, 2007 pertaining to all hedges for commercial flows and transaction exposure. The purpose of the hedges is to safeguard the value of contracted future flows and to increase forecastability. In accordance with the Group’s Financial Policy, 100 percent of the contracted flows and 0–100 percent of estimated flows of up to 12 months shall be hedged. Deviations from the prescribed degree of hedging are permitted within the established guidelines. Currency hedging is undertaken in the market through currency futures, option contracts or loans in foreign currencies.

 

27

Currency    Hedged in each
base currency
(m)1)		    Nominal value
at year-end rate
(SEK m)		    Nominal value
at forward rate
(SEK m)		    Unrealized
forward result
(SEK m)		    Average
forward
rate2)		   

Date of

maturity

AUD/SEK

    -0.7    -3.9    -3.7    -0.2    5.35    <12 months

EUR/SEK

    -60.9    -574.7    -571.7    -2.9    9.39    <12 months

GBP/SEK

    -0.5    -6.2    -6.0    -0.2    12.47    <12 months

NOK/SEK

    -32.2    -38.2    -39.1    0.9    1.22    <12 months

RUB/SEK

    -16.0    -4.2    -4.1    -0.1    0.26    <12 months

SGD/SEK

    -3.9    -17.5    -17.1    -0.4    4.36    <12 months

USD/SEK

    -60.3    -387.3    -387.0    -0.4    6.41    <12 months

Total

    -174.5    -1,032.0    -1,028.7    -3.3      

 

1)

The aggregated negative change in value of the forward contracts in the event of a +/- 5-percent change in the exchange-rate corresponds to SEK 51.4 m (based on the nominal amount of the contract at forward rate).

2)

The average forward rate is based on the spot rate in the forward contracts entered into. Thus, the forward premium is excluded.

This excerpt taken from the NDAQ 8-K filed May 2, 2008.

HEDGING OF CURRENCY TRANSACTION EXPOSURE

The table shows a summary of outstanding futures as of December 31, 2007 pertaining to all hedges for commercial flows and transaction exposure. The purpose of the hedges is to safeguard the value of contracted future flows and to increase forecastability. In accordance with the Group’s Financial Policy, 100 percent of the contracted flows and 0–100 percent of estimated flows of up to 12 months shall be hedged. Deviations from the prescribed degree of hedging are permitted within the established guidelines. Currency hedging is undertaken in the market through currency futures, option contracts or loans in foreign currencies.

 

27

Currency    Hedged in each
base currency
(m)1)		    Nominal value
at year-end rate
(SEK m)		    Nominal value
at forward rate
(SEK m)		    Unrealized
forward result
(SEK m)		    Average
forward
rate2)		   

Date of

maturity

AUD/SEK

    -0.7    -3.9    -3.7    -0.2    5.35    <12 months

EUR/SEK

    -60.9    -574.7    -571.7    -2.9    9.39    <12 months

GBP/SEK

    -0.5    -6.2    -6.0    -0.2    12.47    <12 months

NOK/SEK

    -32.2    -38.2    -39.1    0.9    1.22    <12 months

RUB/SEK

    -16.0    -4.2    -4.1    -0.1    0.26    <12 months

SGD/SEK

    -3.9    -17.5    -17.1    -0.4    4.36    <12 months

USD/SEK

    -60.3    -387.3    -387.0    -0.4    6.41    <12 months

Total

    -174.5    -1,032.0    -1,028.7    -3.3      

 

1)

The aggregated negative change in value of the forward contracts in the event of a +/- 5-percent change in the exchange-rate corresponds to SEK 51.4 m (based on the nominal amount of the contract at forward rate).

2)

The average forward rate is based on the spot rate in the forward contracts entered into. Thus, the forward premium is excluded.

EXCERPTS ON THIS PAGE:

8-K
Aug 1, 2008
8-K
May 2, 2008

RELATED TOPICS for NDAQ:

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