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NDAQ » Topics » (ii) Hedging of Transaction Exposure

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

(ii) Hedging of Transaction Exposure

The table shows a summary of outstanding futures as per December 31, 2006 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% of the contracted flows and 0–100% 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.

 

Currency

    Hedged in each
base currency
(millions)		     Nominal value
at year-end rate
(in millions of
SEK)		     Nominal value
at forward rate
(in millions of
SEK)		     Unrealized
forward result
(in millions of
SEK)		    Average
forward rate(1)		    Date of
maturity

AUD/SEK

    (16.5 )   (89.2 )   (89.5 )   0.3    5.4350    <12 months

EUR/SEK

    (21.7 )   (195.9 )   (199.5 )   3.6    9.2080    <12 months

GBP/SEK

    (1.3 )   (17.5 )   (17.5 )   —      13.4252    <12 months

NOK/SEK

    (118.6 )   (130.1 )   (130.4 )   0.3    1.0997    <12 months

SGD/SEK

    (4.9 )   (22.0 )   (22.3 )   0.3    4.5415    <12 months

USD/SEK

    (30.8 )   (211.7 )   (218.5 )   6.8    7.0843    <12 months
                        

TOTAL

      (666.4 )   (677.7 )   11.3      
                        

 

(1) 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.

(ii) Hedging of Transaction Exposure

The table shows a summary of outstanding futures as per December 31, 2006 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% of the contracted flows and 0–100% 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.

 

Currency

    Hedged in each
base currency
(millions)		     Nominal value
at year-end rate
(in millions of
SEK)		     Nominal value
at forward rate
(in millions of
SEK)		     Unrealized
forward result
(in millions of
SEK)		    Average
forward rate(1)		    Date of
maturity

AUD/SEK

    (16.5 )   (89.2 )   (89.5 )   0.3    5.4350    <12 months

EUR/SEK

    (21.7 )   (195.9 )   (199.5 )   3.6    9.2080    <12 months

GBP/SEK

    (1.3 )   (17.5 )   (17.5 )   —      13.4252    <12 months

NOK/SEK

    (118.6 )   (130.1 )   (130.4 )   0.3    1.0997    <12 months

SGD/SEK

    (4.9 )   (22.0 )   (22.3 )   0.3    4.5415    <12 months

USD/SEK

    (30.8 )   (211.7 )   (218.5 )   6.8    7.0843    <12 months
                        

TOTAL

      (666.4 )   (677.7 )   11.3      
                        

 

(1) 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 Feb 20, 2008.

(ii) Hedging of transaction exposure

The table shows a summary of outstanding futures as per December 31, 2006 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% of the contracted flows and 0–100% 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.

 

Currency   Hedged in each
base currency
(millions)		     Nominal value
at year-end rate
(SEK in millions)		     Nominal value
at forward rate
(SEK in millions)		     Unrealized
forward result
(SEK in millions)		  

Average
forward

rate(1)

   Date of
maturity
 

AUD/SEK

   (16.5 )   (89.2 )   (89.5 )   0.3   5.4350   <12 months

EUR/SEK

   (21.7 )   (195.9 )   (199.5 )   3.6   9.2080   <12 months

GBP/SEK

   (1.3 )   (17.5 )   (17.5 )   —   13.4252   <12 months

NOK/SEK

   (118.6 )   (130.1 )   (130.4 )   0.3   1.0997   <12 months

SGD/SEK

   (4.9 )   (22.0 )   (22.3 )   0.3   4.5415   <12 months

USD/SEK

   (30.8 )   (211.7 )   (218.5 )   6.8   7.0843   <12 months
                     

TOTAL

     (666.4 )   (677.7 )   11.3    
 

(1) 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
8-K
Feb 20, 2008

RELATED TOPICS for NDAQ:

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