The development of the Colombian stock market in recent years has opened to domestic investors a lot of investment and financing opportunities that properly managed can generate significant economic benefits -- This sudden opening in some cases has been taken by surprise and unprepared the national market agents -- The uncertainty that characterizes the domestic and international financial markets, its one of the major risk factors that are assumed when executing these operations, which in most cases inhibit Colombian companies in the real economy to approach the stock market for financing, investment opportunities or even arbitrage -- In the development of this work will be demonstrated how the proper use of financial derivative instruments and mainly of interest rate swaps (IRS) and Cross Currency Swaps (CCS) as hedging tools for interest rate risk and exchange rate can be an excellent alternative for portfolio management, investment plans and debt, allowing Colombian companies take advantage of different investment and debt opportunities while enclosing the risk that companies can manage and are willing to take