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A-Team Insight Blogs

Reval Version 10.0 Continues to Shape Future of SaaS for Derivative Risk Management and Hedge Accounting

From its annual client conference in New York, Reval, the global leader in derivative risk management and hedge accounting solutions, announced today the spring release of its single-version, 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.

“In addition to upgrading the technology behind Reval, we’ve begun to incorporate key functionality clients wanted to retain from FXpress’ FIRST platform,” explains Reval chief operating officer Philip Pettinato. “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.”

Reval 10.0 provides straight-through processing for front-office foreign exchange trading and confirmation from within Reval, minimising 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 categorise 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 sophisticated tools. With Reval 10.0’s new hardware and software framework, users can value complex financial instruments in seconds, gaining a 100-fold increase in 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 opens the door for future financial tools that will leverage The Cloud via Reval’s SaaS environment.

Building on its strength in hedge accounting, 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 (Handelsgezetsbuch). 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.

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