New York, January 24, 2005 – Reval, a provider of financial risk management technology solutions and services today announced 2004 operating results. Further penetrating the market for its hosted derivative management and compliance solutions, the company topped 50 clients including 4 companies listed on the FTSE 100. For the third straight year, Reval doubled its operating revenue over the prior year.
With three major software releases of Reval’s flagship HedgeRx ® product, the company increased its product reach into the corporate, energy, commodity and financial institution sectors. In addition to broadening its asset class coverage, Reval also rolled out its IAS 39 module, which is now already in production in Europe facilitating compliance with newly implemented international standards for derivative management and reporting.
Existing clients of the subscription services benefited from the seamless ASP releases and nearly 100% up-time, enabling the company to maintain high satisfaction and retention.
"Reval crossed some major milestones in 2004; our investment in the ASP model and high service levels are really paying off " said Jiro Okochi, CEO and Co-founder of Reval. "We’re very excited about 2005 and beyond and look forward to helping more companies solve their risk management and compliance challenges."
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