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Reval Upgrades Risk Management Solution

Reval, a provider of derivative risk management and hedge accounting solutions, has released new version of its software-as-a-service (SaaS) platform, Reval 10.0. Updates in the new version provide the foundation for a go-forward platform planned since Reval’s acquisition of FXpress last fall.

The solution provides straight-through processing for front-office foreign exchange trading and confirmation from within Reval, minimizing errors caused by manual processes.

Users can perform pre-trade hedge analysis, decide what to hedge, perform and confirm trades directly within electronic trading platforms, and move trades through middle and back office hedge accounting functions, without taking processing steps outside the system. Improved workflow also provides users the flexibility to categorize trades and hedges for reporting and accounting purposes, define trader and daily limits, and perform rate tolerance checks on trade input.

The new version enables corporate treasury and accounting departments to perform valuation and risk management tasks with new tools. With Reval 10.0’s new hardware and software framework, users can value complex financial instruments in less time, with increased speed.

This framework supports a new equity module for pricing index futures and over-the-counter (OTC) index options using a stochastic volatility model and Monte Carlo simulation. It also assists in developing future financial tools that will leverage The Cloud via Reval’s SaaS environment.

Reval 10.0 enhances support for companies complying with international and domestic accounting regulations. New enhancements assist Canadian companies adopting International Financial Reporting Standards (IFRS), required for fiscal years beginning on or before January 1, 2011, and German companies filing under the special hedge accounting requirements of local Generally Accepted Accounting Principles (GAAP), or HGB (Handelsgesetzbuch).

For US companies, Reval 10.0 supports compliance with ASU 2010-06 for fair value measurement disclosures, which became effective for most companies for the interim period ending March 31 of this year. The new version also generates reports using the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) taxonomy.

Philip Pettinato, COO at Reval, said: “In addition to upgrading the technology behind Reval, we’ve begun to incorporate key functionality clients wanted to retain from FXpress’ first platform. With the exciting new features of Reval 10.0, we are continuing to shape the future of managing derivatives via SaaS, from pre-trade hedge analysis to post-trade hedge accounting.”