Foreign exchange rate alerts (FX alerts) are programmed email or message notifications of a pre-established exchange rate level. Set by currency risk managers, foreign exchange rate alerts cut out the time and commitment required to follow exchange rate movements and reduce the risk of missing a desired rate. By triggering the execution of forward hedges, Currency Management Automation solutions go a step beyond simple Foreign Exchange alerts. In effect, these are turned into ‘take profit’ and ‘stop loss’ orders that are automatically executed at the predetermined levels.