My finished rug, bound and all.
I finished the rug with purple wool piping, a method that Wanda Kerr teaches on the Welcome mat.
I used about 10mm thick cord, which I encased in a long strip of wool about 10cms wide by the length all around the rug plus some extra. You then sew your cord into the wool strip on your machine with a zipper foot, the whole length of your strip, leaving about 5 cms undone at each end.
You place your piping so that it sits nice and snug against your last row of hooking on your rug, with your loose flap at the back. You then just sew it with a running stitch placing the stitches between your loops all the way around, easing in at the corners. When you get to the end, you cut the cord so that they but snugly together and overlap the fabric and sew it down.
You then sew down the access at the back as you would any binding. Voila, done. Quick, easy and a nice finish.
Here is a photo of the front and the back.