October 20, 2008
- Los Angeles, CA
Reval, a global leader in financial risk management and hedge accounting solutions and services delivered under the Software-as-a-Service (SaaS) model, announced today the release of its latest upgrade of HedgeRx® Version 8.1. Once again, Reval is at the forefront of hedge accounting with the addition of a new Structured Interest Rate and Credit modules and expanded compliance reporting for IFRS 7, FAS 161 and FAS 157. Companies now have the flexibility to accurately fair value derivatives in light of today’s volatile market conditions and increased regulatory scrutiny.
Reval is consistently viewed as the leader in treasury compliance and helps its Global 2000 clients with the complexities of accounting regulations as they relate to derivatives. Reval’s Software-as-a-Service platform delivers an instantaneous, seamless single version upgrade, ensuring over 200 clients benefit immediately from the new functionality.
With a multi-asset class solution now covering foreign exchange, interest rates, exotic interest rates, credit, energy and commodities, Reval is truly a best-of-breed solution that caters to the complexities of multi-national corporations’ hedging strategies.
Exotic Interest Rate Product Module
Financial institutions and corporations can now value and hedge account for a wider variety of products using Reval HedgeRx®, ensuring consistency of valuation models and market data. New product coverage includes:
• Dual Currency bonds
• Power Reverse Dual Currency bonds and swaps
• Cancelable Cross Currency swaps
• CMS Spread formula bonds and swaps
• Inverse Floating bonds and swaps
• Floating, capped and floored bonds and swaps
• Step-up and fixed-to floating bonds and swaps
Compliance Reporting - IFRS 7 and FAS 161
New global accounting standards now require further reporting on financial instrument exposures and risk management. To cater to these new requirements and keep abreast of clients’ needs, Reval has made a number of enhancements to their reporting capabilities, including the following:
• Derivatives and underlyings can be reported on by asset class - greater supporting disclosure and reporting purposes
• Reporting to support long term hedging programs with OCI release extended to
forecast out to 5 years and details of breakdown from OCI release to P&L
• Stress testing reports can now take account of hedge relationships and allocate the impact of a stress between equity and profit and loss
“In times like these, one application that supports accurate Level 1, 2 and 3 valuations across multiple asset classes with transparent market data is a great asset to any organization,” said Philip Pettinato, COO of Reval. “We strive to work closely with our clients in understanding their needs and delivering solutions equipped to deal with the changing environment and increasing challenges they face.”
About Reval
Reval® is the leading derivatives risk management solution provider delivered under the “SaaS”, or Software-as-a-Service model, for companies hedging Foreign Exchange, Interest Rate, Energy, and Commodity risk. Designed for financial professionals by financial professionals, Reval’s fully hosted Web-based solutions help companies follow the requirements of FAS 133/157, IAS/AASB 39, IFRS 7 and CICA 3865 and gain better controls to support Sarbanes-Oxley compliance. The benchmark for treasury best practices, Reval’s products can be rapidly deployed and are easily integrated with other systems. Headquartered in New York since its founding in 1999, Reval has expanded its global presence and also maintains offices in Chicago, Toronto, London, Sydney, and Gurgaon. For more information, please visit: www.reval.com or email info@reval.com.
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