New York, January 31, 2008 – Reval, a global leader in financial risk management solutions and services, announced today that it accepted the 2007 TMI Award for Innovation and Excellence in Treasury Management for "Best Technology Provider of Hedge Accounting Solutions" last night at an awards ceremony held in London. This year’s win by Reval follows last year’s industry vote of confidence, which led Reval to being named "Best IAS 39 Solution." Voting took place across 35 bank and professional categories, with over 1,000 votes received for each category.
Robin Page, Chief Executive of TMI said, "The TMI Award is a true recognition of those banks, treasury service and technology providers who have clearly ‘got it right’ in the eye of the corporate treasurer and have clearly demonstrated leadership and innovation in a rapidly changing business sector."
Jiro Okochi, Reval CEO said, "It’s great to win TMI’s award for ‘Best Technology Provider of Hedge Accounting Solutions’ for a second year in a row and I want to thank all of our clients who voted for us. 2008 will pose additional scrutiny on derivative accounting, risk management and valuations and we look forward to keeping our lead in this area."
Through Reval’s solutions and services, including its flagship product, HedgeRx ®, the company has become the global leader in helping companies implement better approaches to effectiveness testing under stringent accounting rules such as FAS 133 and IAS 39, providing better control of operational risk, and helping to avoid financial restatements and other regulatory pitfalls. Reval allows companies like British American Tobacco, Starbucks, RTL, National Grid, General Motors, Commerzbank, Qantas and Deloitte & Touche LLP, who follow the requirements of derivative hedge accounting (FAS 133, IAS 39, CICA 3865, FAS 157, IFRS 7) to gain better controls to support Sarbanes-Oxley compliance. A combination of uncertainty in the financial markets, especially in energy and commodities, and the ongoing regulatory pressure for proper controls and compliance around financial reporting has created the growing need for Reval’s fully hosted Web based solutions.
For more information, visit www.reval.com or email email@example.com.
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