Northern Gas Networks Selects Reval in Preparation for IFRS 13

London, 3 September 2013 – Reval, a leading global Software-as-a-Service (SaaS) provider of comprehensive and integrated Treasury and Risk Management
(TRM) solutions, announced today that Northern Gas Networks, one of the
United Kingdom´s main gas network operators, has selected Reval to
improve efficiency in hedge accounting and prepare for IFRS 13 Fair Value Measurement.

“With our interest rate and debt portfolio substantially increasing
and IFRS 13 on the horizon, we knew our current, manual processes would
be difficult and inappropriate for the new compliance environment. We
needed a more efficient way to manage hedge accounting,” says Ian Clark,
Head of Treasury at Northern Gas Networks Ltd. “We chose Reval´s SaaS
TRM solution to automate our hedge accounting process and assure ongoing

“IFRS 13 and other regulatory changes are causing many companies to
re-examine their current processes and the efficiencies needed for their
treasury function overall,” says Peter Reynolds, Regional Vice
President Western Europe at Reval. “Reval will help Northern Gas
Networks audits run more smoothly, while its SaaS delivery will enable
the company to remain current with ongoing regulatory change.”

About Northern Gas Networks
Northern Gas Networks
owns the gas distribution network of 37,000 km of gas pipes serving an
area covering West, East & North Yorkshire, the North East &
North Cumbria. The company has its head office in Leeds, a major
satellite office in Sunderland and smaller strategically located
premises around the region. Northern Gas Networks is owned by a
consortium of three partners. For more information, visit

About Reval

Reval is a global SaaS provider for Treasury and Risk Management, helping enterprises better manage cash, liquidity and financial risk, and account for and report on complex financial instruments and hedging activities.

For more information, visit or email

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