Break Forward

A break forward, also known as a cancellable forward, capped forward or cancellable option, is a derivative product halfway between a forward contract and an option. Break forwards give buyers…

Budget Reference Rates

The Budget Reference or Budget Rate is the exchange rate that a company’s financial management uses to draft budgets and establish business objectives. Businesses with offices in several countries, operating in…

Business foreign exchange

Business foreign exchange refers to the trading of currencies for purposes of real international trade of goods and services, in contrast to the vast majority of FX trades, which are…

Cash collection

Cash collection, also known as payment collection, is a treasury function that describes the process whereby a company recovers cash from other businesses (or individuals) to whom it has previously…

Cash Concentration

Cash Concentration is a corporate treasury management strategy involving the transfer of all funds from different accounts to a single, centralised account to increase cash management efficiency and reduce fees. There…

Cash Flow at Risk (CFaR)

Cash flow at risk (CFaR) is a corporate treasury concept that defines the degree of vulnerability of a company’s future payables and receivables to the potential variations in…

Cash flow hedge

A cash flow hedge is an investment position taken by a company or an investor aiming to offset the potential impact of a particular risk on the cash flows of…

Cash management

Cash management is the term used to define all of the activities related to collecting, centralising and disbursing cash within a company. The main aim is to maximise the availability…

Cash Pooling

Cash Pooling is a cash management strategy that allows companies with credit and debit positions at several financial institutions to combine them into a centralised account. More info

Central bank

A central bank is an autonomous or semi-autonomous institution entrusted with managing a state or monetary union’s monetary supply, currency and interest rates and is usually the supervisory authority for…

Central Counterparty Clearing House (CCP)

Central counterparty clearing houses (CCPs) are financial organisations, often operated by major banks and located in several European countries, created with the objective of easing trading in derivatives and equities…

Centralised Treasury

Centralised Treasury is the system of financial management used by companies in which financial, cash management, investment and foreign exchange decisions, along with other strategic matters are made and controlled…

Chilean Peso

The Chilean peso is the official currency of Chile since 1975. Its ISO code is CLP, and its symbol is ($).

China National Advanced Payments System (CNAPS)

The China National Advanced Payments System (CNAPS) is national payment protocol launched by the People’s Bank of China, as a part of a wider plan to increase the global use…

Chinese yuan

The Chinese yuan, or renminbi, is the official currency of the People’s Republic of China. Its ISO code is CNY although RMB can also be used. The yuan is the…