Chapter 17 - Foreign exchange: risk identification and management. In this chapter, students will be able to: Recognise FX transaction, translation, operational and economic risk, formulate an FX policy document, outline methods to identify a company’s FX exposures, describe the implementation of market-based hedging techniques, explain internal non-market-based techniques for managing FX risk. | Lecture Financial institutions, instruments and markets (7e): Chapter 17 – Viney, Phillips