Who is Timely
Timely is a Norwegian tech company that helps people take control of their time. Their AI-powered platform automatically tracks time, plans schedules, and recently launched a personal assistant designed to protect focus and support deep work.
Why they use Bound
Like many international businesses, Timely deals with multiple currencies.
Their revenue is in USD.
Their operating costs are in NOK
This meant they regularly needed to:
Convert USD to NOK to cover expenses.
Protect their budget rate of 10.5, while aiming to beat it if possible.
How they use Bound
Hedging Strategy:Ranging
Ranging helps teams manage risk without giving up upside. You set:
A stop rate to protect against downside.
A limit rate to lock in gains if the market moves in your favour.
If one triggers, the other cancels — so you avoid worst-case scenarios and can still benefit from favourable moves.
In Timely’s case:
They set their expected USD-to-NOK cashflow for the year.
Stop rate: 10.5 (their budget rate)
Limit rate: 11.10
What happened?
The market moved in their favour - hitting their limit at 11.10. A forward was then placed for the rest of the year at that rate, locking in a strong outcome and outperforming their budget.
Achieved Risk: The potential loss from your hedging strategies on Bound.
Unhedged Risk: The potential loss if no hedging was done, only booking spot trades.
Results
Beat their budget rate by 5.4% From 10.5 to 11.1 | 5 minutes spend an FX a month |
No opinion given in the material constitutes a recommendation by Bound Rates Limited that any particular transaction or investment strategy is suitable for any specific company or person. Results may and will vary. The information in this publication does not constitute legal, tax or other professional advice from Bound Rates Limited or its affiliates.
