FORGING GROWTH IN A SLOW MARKET
strangling liquidity . The finance and leadership has to work hard to ensure that this fluctuating exchange rate is not allowed to eat into profit margins . “ Currency exchange impacts us in a massive way ”, says Mohammed Rizwan , Mettalis CFO . “ There are three key factors in our trading , one of course is the metal market , the second is trade and the third is currency which plays a major role .”
A calculated approach to risk While many of its competitors have taken a ‘ batten down the hatches ’ approach during turbulent times , Mettalis credits its growth with its strategy to take calculated risks – making active investments to fuel growth .
The challenging market conditions prompted Mettalis to seek help from an external FX partner . Rizwan ’ s first port of call for assistance in hedging more effectively against currency risk was the traditional banks and brokers . However , he soon became frustrated with the complexity of their offerings and explanations , as well as the complex fines and fees associated with each plan . Wary of the practice of ‘ dumping ’ – whereby businesses are offered unbeatable initial rates to lure them in , which are then quietly ramped up for future transactions – Rizwan was determined to find a solution which gave him transparent access to the live mid-market rate .
The growth of FinTech – technology
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