Structured FX Products

Explore the range of FX derivative investment products available to professional clients only, offered by Monex Europe Markets Limited.

About Monex Europe Markets Limited

Monex Europe Markets Limited is an investment firm authorised and regulated by the Financial Conduct Authority. Our FCA firm registration number is 596146.

Monex Europe Markets offers professional clients foreign exchange derivatives trading on either an advised or execution-only basis.

FX advisory

For professional clients only, Monex Europe Markets Ltd offers a selection of structured products for various financial goals, including FX exposure and hedging purposes. We have a team of dedicated traders who can structure suitable hedging solutions which reflect your commercial objectives, thus, enabling you to take control of the currency exposures on your balance sheet and to hedge your currency risk against future movements in exchange rates. We facilitate a range of products including deliverable and non-deliverable FX forwards, swaps and options. Your dedicated trader will help you understand which FX strategy or product is best suited to your requirement.


A non-deliverable forward (NDF) is a type of contract that allows companies to offset the financial impact of currency movements. An NDF is most commonly used in markets where local currency controls restrict the availability of standard forward contracts, or where physical exchanges of currency are not required.

An NDF is a cash-settled forward contract. Instead of exchanging notional currency amounts on the value date, the trade is closed out, which generates either a positive or a negative cash flow. The exchange of cash flow is usually directly opposite to the clients underlying exposure. If the rate of exchange when the contract is closed out is worse than the rate of the NDF contract, the client will receive a positive cash flow to offset this. If the rate of exchange is better than the rate of exchange of the NDF contract, the negative cash flow will offset this.

The benefits of an NDF are that they allow you to hedge a currency exposure to a restricted currency that you would not be able to hedge using traditional methods.

FX options

We can also help you formulate a hedging strategy involving options. An FX option gives the buyer the right but not the obligation to exchange from one currency to another at a pre-agreed rate (the strike rate) on a specific date in the future.

Options allow greater flexibility in tailoring hedging strategies to meet risk management objectives. They can be used to improve margin terms and achieve different protection rates.


A forward contract is a customised OTC contract between two parties to buy or sell an asset at a specified price on a future date. A forward contract can be used for hedging or speculation, although its non-standardised nature makes it particularly apt for hedging. This includes balance sheet hedges and loan hedging.

This type of forward contract, where the purpose is not to facilitate a payment for identifiable goods and services or direct investment can only be offered by an investment firm.

Become a client

Find out more about our full range of services by talking to one of our experienced FX specialists on +44 (0) 203 650 6310