New York, December 22, 2004 – Reval, the leading provider of web-based derivative and hedge accounting solutions, announced the release of Version 4.2 of HedgeRx. In its third major release of 2004, Reval added new derivative instruments, further expanded its range of independent valuations and launched the IAS 39 Doctor, a documentation tool for compliance with derivative reporting requirements under International Financial Reporting Standards ("IFRS").
As a true multi-asset class system, HedgeRx offers new coverage and independent valuations of instruments ranging from Mexican TIEE to Singapore Dollar Interest Rate swaps to Milk swaps. "Reval continues to lead the way for companies to come to one place to find its valuation needs for derivatives" notes CEO Jiro Okochi. "Most software companies get pigeon-holed into handling just a single asset class like Fx derivatives, but we see the importance of handling the breadth of instruments, especially in this volatile marketplace where you may need to quickly hedge risk and properly manage the lifecycle and reporting of diverse transactions."
A leader in FAS 133 solutions since 2000, Reval continues its lead in the sophisticated field of hedge accounting with further enhancements to its IAS 39 module for its growing base of international clients. "We’re already live with IAS 39 with European clients and continue to add valuable features at the advice of the Big 4 accounting firms and their clients" says Philip Pettinato, COO of Reval. "Our IAS 39 Doctor is another example of how we make it easier to understand and comply with new regulatory requirements". The IAS 39 Doctor allows companies to understand the accounting impact of hedging strategies and provides the at-inception documentation required under the standard. Reval’s hedge accounting module covers the complete workflow for FAS 133 or IAS 39 from the at-inception documentation all the way through to the debits and credits with its Sub Ledger Module.
In addition to Reval’s aggressive product release cycle, a key differentiator with Reval’s release philosophy versus typical client server software is that the client is not left behind on past versions and the upgrade is essentially hands-free to the client. Therefore, all clients have the latest version and uniform support of the application.
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