New York, November 1, 2001 – Version 1.40 includes enhancements to Reval’s derivative pricing and FAS 133 services, including support for additional products and deal types, increased FAS 133 report options, multiple functional currencies, and company/user maintenance enhancements. "Our clients are thrilled about the new enhancements and our ability to quickly deliver what we promise," says Terrence McHugh, Senior VP of Reval’s Sales and Marketing. "As daily users of Reval, our clients are the best source of input to create enhancements to our system."
First VP of Countrywide’s Treasury Group, Paul Newman, agrees. "These changes reflect Reval’s commitment to staying ahead of a perpetually changing market. For Countrywide, that commitment also means that we can perform our portfolio administration responsibilities faster and more accurately. More gratifying, we can do so as the size of our derivatives portfolio grows to hundreds of individual trades, and as the characteristics of these trades grow increasingly complex."
New products that are featured in Reval’s 1.40 release include interest rate collars, F/X option collars, and CMS swaps. The FAS 133 enhancements facilitate retrieval of information needed for the maintenance of hedges and the preparation of financial statements. Additional enhancements include the support for multiple entities and functional currencies. System security has also been increased with password expiration dates, which are configurable by the client.
These system changes are also in preparation for future modifications that will be made by the end of the calendar year. As Mr. McHugh says, "Our goal is to constantly utilize client feedback to improve our system. I think our clients are very pleased when they see regular product enhancements. I also think they appreciate the ASP model more than ever given that the enhancements are seamless to them. Future improvements we are considering include cash management, commodities and interfacing to various foreign exchange ECN’s."
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