New York, March 5, 2012 – Reval SDR, Inc., a wholly-owned subsidiary of Reval Holdings, Inc., announced today that it has registered with the U.S. Commodity Futures Trading Commission (CFTC) to become a multi-asset class, global swap data repository (SDR). With plans to service the reporting and compliance requirements of over-the-counter (OTC) derivative use as specified in the Dodd-Frank Wall Street Reform and Consumer Protection Act, Reval SDR, Inc. will utilize a proven solution that already processes a broad range of interest rate, foreign exchange and commodity derivatives.
"We believe we are uniquely positioned to provide benefits to reporting entities that other registrants cannot match," says Jiro Okochi, Chief Executive Officer and Chairman of the Board for Reval SDR, Inc., which will leverage the proven technology of Reval®, a comprehensive and integrated Software-as-a-Service (SaaS) solution used since 2000 by nonfinancial corporations for derivative risk management and hedge accounting, and by swap desks of financial institutions to service the derivative valuation, risk and reporting needs of their nonfinancial corporate clients.
“In addition to becoming a multi-asset class SDR, we believe our competitive edge is our deep experience in handling customized, tailored swaps that will most likely not clear under Dodd-Frank. We also believe we will be the preferred SDR for SEFs and DCOs as we have no conflicts of interest from ownership by any swap dealer or from plans to become a SEF or clear swaps," Okochi says. “We look forward to assisting Federal regulators in fulfilling the promise of a transparent market and reducing systemic risk and are happy to bring reporting entities another choice in SDR services.”
Reval SDR, Inc. will leverage the Reval SaaS solution, a multi-tenant, secure and scalable hosted SaaS solution, which provides easy access over the internet. Reval’s genesis and historical success has been based off of helping companies comply with the complexities of derivative reporting and regulation. The Reval solution came to market in 2000 with the advent of the Financial Accounting Standard Board’s hedge accounting standard FAS No. 133 and grew as a result of taking complicated accounting and regulatory requirements and making them less of a burden for participants to comply with by providing easy to use functionality and workflow, seamless servicing of the software and hardware and expert support. One of Reval’s earlier differentiators was its fully integrated commodities module, built in 2003 in conjunction with active end-users of commodities. Since then, it has grown to handle OTC derivatives for a variety of energy, metals and agricultural commodities and the specific nuances of this asset class, as well as its wide range of interest rate and foreign exchange asset classes.
Reval SDR, Inc.’s service will help swap dealers and major swap participants report and comply with the Dodd-Frank’s mandate that all cleared and uncleared swaps be reported to registered
swap data repositories. The application of registration, Form SDR, is part of the final rule, effective October 31, 2011, establishing the registration requirements, statutory duties, core principles and compliance obligations for registered swap data repositories.
For more information, visit www.reval.com or email email@example.com.
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