Dr. Ulrich Boettger e-Forex talks with Dr. Ulrich Boettger, Senior Vice President, Treasury at BASF Aktiengesellschaft in Ludwigshafen, Germany
Dr. Ulrich Boettger e-Forex talks with Dr. Ulrich Boettger, Senior Vice President, Treasury at BASF Aktiengesellschaft in Ludwigshafen, Germany

e-Forex talks with Dr. Ulrich Boettger, Senior Vice President, Treasury at BASF Aktiengesellschaft in Ludwigshafen, Germany

e-Forex talks with Dr. Ulrich Boettger, Senior Vice President, Treasury at BASF Aktiengesellschaft in Ludwigshafen, Germany

First Published: e-Forex Magazine 16 / Case Study / October, 2004

Why did BASF decide to start trading online? There were two major reasons for BASF to start FX online trading: Firstly, we were looking for an independent market place type system that would increase transparency and competition for better quotes. Additionally, we wanted to improve the execution work-flow for transactions both with banks and within the BASF Group. We are centralizing Group currency exposure at BASF AG. This concept is effective and really accepted only when Group companies have the possibility to conclude FX transactions with BASF AG 24 hours a day using an autodealer. Therefore it was very important to establish an in-house foreign exchange trading system that we could use externally as well as internally.What type of treasury activity are you typically using online trading for? We are using electronic market places for FX hedging, daily cash management of our foreign currency bank accounts, that means FX spot business, intra-group FX transactions, as well as occasionally for money market...continued

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