In fx risk management, a take-profit order is a conditional trading instruction that automatically secures favourable exchange rates when markets move in the organisation's favour beyond specified levels. These type of conditional orders enable companies to benefit from positive currency movements whilst maintaining systematic budget rate protection, effectively allowing for potential outperformance of budget targets when market conditions are advantageous.

In Currency Management Automation, take-profit orders are paired with stop-loss orders (another type of conditional order) aimed at locking-in favourable exchange rate movements. In order to avoid duplicating the volume of hedging, stop-loss and take-profit orders automatically cancel each other. For this reason, they are known as ‘OCOs’, or One-Cancels-the-Other.

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