London, 22 August 2013 – Reval, a leading global Software-as-a-Service (SaaS) provider of comprehensive and integrated Treasury and Risk Management
(TRM) solutions, announced today that Circle Housing Group (Circle),
one of the UK’s leading providers of affordable housing, has selected
Reval to streamline hedge accounting workflows and enable informed hedging decisions, increasing control over P&L volatility.
“Working with Reval´s expert team and leveraging its SaaS TRM
solution, Circle will be able to better understand and mitigate
financial risk, and apply hedge accounting treatment where appropriate,”
says Peter Moore, Assistant Director Corporate Finance at Circle.
“Choosing one of the leading providers of financial risk management and
hedge accounting solutions provides us with a great deal of comfort. We
know that we have the right tools and the right strategic partner to
move forward with confidence.”
“We are very pleased that a leading organization such as Circle
trusts our expertise and solutions, and we are looking forward to
helping them reach their goals for improved efficiencies and control,”
says Peter Reynolds, Regional Vice President Western Europe at Reval.
“In particular, Reval will support Circle with derivative valuations and
financial reporting required under recently published FRS 102.”
FRS 102 The Financial Reporting Standard applicable in the UK and
Republic of Ireland, effective for periods beginning on or after 1
January 2015, will significantly change the reporting landscape by
bringing all derivatives on balance sheet at fair value. Applicable for
profit and public benefit entities, financial reporting requirements
will depend on the nature and size of an entity.
Circle is one of the UK’s largest
providers of affordable housing, with 12 partners and 65,000 homes.
With a dedicated team of more than 2,200 staff, Circle provides homes
and services to around 300,000 people across the UK. Circle’s partners
have one shared mission at its core; to enhance life chances. Together
they deliver great homes to live in and first rate services to
customers, as well as providing vital care, support and telecare
services to help people live independently for longer.
For more information, visit www.reval.com or email firstname.lastname@example.org.
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