Frankfurt, 22 March, 2010 – Reval, the global leader in derivative risk management and hedge accounting solutions, announced today that Landesbank Baden-Württemberg (LBBW) has selected Reval’s Web-based solution for valuations and accounting of derivatives. The leading German universal bank will use Reval to support its Solutions & Structuring department for their sales and service activities.
“We selected Reval because of its support of a wide spectrum of financial instruments for IR, FX and commodities asset classes and its unrivaled expertise in hedge accounting,” said Dr. Daniel Oldeweme, Director Solutions and Structuring at LBBW. “As Reval provides this functionality through Cloud Computing, we did not need to invest in IT infrastructure, and the services could be used immediately.”
Using Reval’s Structured IR and IAS 39 modules, LBBW can create customized hedge instruments that qualify under IAS 39 accounting regulations, meet actual client requirements to hedge specific cash flows, and accommodate client expectations about future market developments. Such flexibility will help LBBW meet increased demand for customized structured products that qualify for beneficial accounting treatment.
“We are excited to work as partners with LBBW, bringing both our expertise and our solution,” said Walter Schipper, Reval Country Manager. “In this role, we will help to leverage the use of structured instruments for qualifying hedges that suit individual situations and needs and, ultimately, mitigate the financial risks of LBBW’s Customers.”
Reval’s Web-based solutions can be rapidly deployed and are used by over 400 multi-national organizations across the globe. They address the complex business, valuation, and accounting requirements for derivative management of interest rates, foreign exchange and commodities in front, middle and back offices. Reval’s products and services help companies implement better approaches to effectiveness testing under stringent accounting rules such as IAS 39 and IFRS 7. With Reval, companies can gain better control of operational risk and avoid financial restatements and other regulatory pitfalls. Reval’s easy-to-deploy Software-as-a-Service has cutting edge security, stringent controls and a SAS 70 Type II certification.
About Landesbank Baden-Württemberg (LBBW)
Landesbank Baden-Württemberg (LBBW) is a universal bank and an international commercial bank. Together with its regional retail banks Baden-Württembergische Bank (BW-Bank), Rheinland-Pfalz Bank and Sachsen Bank, it offers the whole range of products and services typical of a modern large bank. LBBW is the central bank of the savings banks in Baden-Württemberg, Rhineland Palatinate and Saxony. BW-Bank functions as a savings bank for LBBW in the territory of the state capital, Stuttgart.
For more information, visit our website, www.lbbw.de
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