The rapid growth and continued sales of Simply Audiobooks’ products throughout the United States creates foreign exchange exposure between Canadian and American dollars.

With their receivables in US dollars and costs in Canadian dollars, Simply Audiobooks was exchanging money frequently. What's more, as a result of volatile market conditions, their transaction costs were high and they were receiving inferior rates from their banks and other FX providers.

To help them overcome these challenges, Velocity Trade was called in. We implemented a hedging program, and provided more competitive rates and execution - allowing Simply Audiobooks to keep more of its hard earned profit.