New York, January 16, 2001 – Reval.com, Inc., a web based Treasury Management Application Service Provider ("ASP") with a focus on FAS 133, announced the completion of its Beta testing period and has launched its initial services. Reval will start with a focus on front, middle and back office derivative services for Treasury departments as a low-cost solution to expensive on-site systems, including an extensive FAS 133 module.
"It’s an important day for us and we are extremely pleased to release our live application and services that will make corporate treasurers’ lives much easier forever", says CEO and Co-Founder, Jiro Okochi. "We formed a strong, dedicated team of experienced derivative and accounting professionals, cutting-edge web developers, and excellent customer support staff that have delivered a superior product."
Founded in May of 1999, Reval offers an affordable web-based solution that assists companies in addressing the effectiveness of their hedging activities in accordance to the highly complex requirements for hedge accounting of derivative instruments as defined by the Financial Accounting Standards Board (FAS 133/138). Reval’s powerful FAS 133 module, along with its user-friendly compliance tool, the FAS 133 Doctor™ was designed and developed with the assistance of PriceWaterhouseCoopers.
Reval’s unique FAS 133 module is not only comprehensive, but also user friendly and incorporates a wide array of drop down menus, toggles and check boxes. The system can link the hedge with the hedged item, run effectiveness reports and provide the appropriate documentation necessary to assist corporate treasurers in their implementation of FAS 133. The user has the ability to designate full fair market value or benchmark interest rates for interest rate hedges, spot or forward methodologies for FX hedges, and fair market value, intrinsic value or minimum value methodologies for interest rate options and foreign exchange option hedges.
Reval’s FAS 133 Module is layered on top of it’s base services which include asset and liability analytics, pre-trade pricing analytics for fixed income and foreign exchange derivatives, portfolio risk management and extensive back office reporting. The back office features include true third-party marks-to-markets, and automated report generation for resets, payments, accruals, inventory, as well as profit and loss.
Reval developed its line of products using the latest advancements in web development and technology. Special focus was placed on XML, which is the universal protocol that will facilitate portfolio migration and integration to existing systems. "Reval has developed a proprietary architecture called Reval XML Object Access Protocol ("RXOAP"). It is conceptually similar to Microsoft SOAP in that it is a lightweight protocol for exchanging information in a decentralized, distributed environment" notes CTO and Co-Founder, Woo Song. "RXOAP can easily be used to communicate and integrate with third-party systems as well as to accommodate FpML or any other flavor of XML".
Reval’s web site and services are secure, sophisticated, and strictly confidential. Reval is committed to providing a secure and private, web-based risk management and account access environment. To help ensure the security of all data transmissions, Reval employs leading 128-bit SSL encryption and authentication technology.
Reval is confidant that its technology, analytics and delivery platform will propel them to be the industry leader in Treasury Management systems.
For more information, visit www.reval.com or email firstname.lastname@example.org.
Note to editors: Trademarks and registered trademarks remain the property of their respective owners.