New York, November 18, 2002 – Reval, a provider of financial risk management and compliance solutions and services, announced the release of its latest version of HedgeRx, its flagship derivative hedging management system. HedgeRx Version 2.2 contains significant enhancements to its risk management, reporting and FAS 133/IAS 39 functionality. For Reval clients accessing the software via Reval’s hosted software delivery model, the upgrades were thoroughly tested and implemented over the weekend by Reval and available to clients on Monday morning.
Reval clients rely on the company’s software and services to provide the highest quality of hedging management for interest rate, foreign exchange, energy and commodity exposures including instrument valuation, risk management analytics, back-office processing and reporting and compliance with FAS 133 and IAS 39 accounting rules.
Version 2.2 of HedgeRx is the fifth significant upgrade to the software in 2002. "Reval’s financial and accounting expertise combined with our fully integrated and hosted delivery model enable us to stay on top of our clients’ risk management needs and the ever-changing FAS 133 requirements," said Philip Pettinato, Reval’s Chief Operating Officer.
Enhancements to HedgeRx in this release include risk management functionality providing clients with additional tools to evaluate and mitigate counterparty, market and operational risk as well as extension of industry-leading FAS 133 compliance tools.
- New Counterparty Limits: HedgeRx ® now offers Counterparty fair market value limit tracking, including the addition of Risk Tiers, counterparty limit maintenance and counterparty limit utilization and exception reporting.
- Payment Forecasting: Generate forecasts of payment inflows and outflows including variable rate projections using Reval’s forward curves.
- Market Risk and Stress Testing by Trade Group: Evaluate exposures and hedging relationships for user-defined trade groupings.
- Operational Risk Management: Audit the cash flow impact of changes made to trade parameters, an enhancement to the existing ability to audit changes made to trade detail including who made the change and the date and time of the change.
FAS 133/IAS 39
- Other Comprehensive Income (OCI) Release Projections: Meet FAS 133 disclosure requirements by projecting the estimated timing and amount of OCI to be released to earnings due to revenue recognition events, hedge designation release schedules, interest accrual recognition and de-designation/maturity events.
- Retrospective Assessment: Administer hedge assessment inputs for multiple regression statistic sets.
"Our ability to deliver these frequent upgrades to our clients without any business interruption validates the benefits of our ASP business model as we continue to break the mold of conventional software development," said Reval CEO and Co-founder Jiro Okochi.
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