New York, September 24, 2002 – Reval.com, Inc., a leading provider of risk management and regulatory compliance services, today announced that General Motors Corp. (NYSE: GM), the world’s largest vehicle manufacturer, has signed an agreement to become a client of Reval’s commodities hedging management solution.
Reval has worked with GM to co-develop the commodities hedging module of Reval’s flagship product, HedgeRx, that efficiently manages front-, middle-, and back-office workflows associated with underlying commodities usage, starting with metals and energy. Delivered via Reval’s application service provider (ASP) platform, the new module enables GM, and other corporations hedging commodity exposures, to:
- Streamline and centralize management of its hedging portfolio
- Access 24/7 from multiple locations via web browser
- Perform risk management analyses
- Comply with requirements of FAS 133
"Bringing on GM to use our commodities module is a landmark deal for Reval in many ways," said Jiro Okochi, co-founder and chief executive officer of Reval. "It validates our ability to develop cutting edge solutions for a Fortune 3 company using our existing technology, while allowing us to expand into a new market of commodities users."
Having expanded its leading FAS 133 module to incorporate commodities hedging, Reval is the only vendor that can offer any client the ability to manage foreign exchange, interest rate, and commodities risks and FAS 133 on one fully integrated platform.
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