Revalâs broader derivative hedging and risk management services are being used by a number of Fortune 1000 companies such as Countrywide Home Loans and Waste Management to manage large, sophisticated portfolios and can be deployed via the Internet or as an integrated in-house solution at the client site.
Reval Express fills the need of treasuries with less sophisticated hedging portfolios, but with the same new complex management and reporting challenges under FAS 133. "Even companies with a handful of hedges must comply with the stringent standards of FAS 133," notes Jiro Okochi, Co-founder and CEO of Reval. "Revalâs web-based service enables clients to comply overnight without spending a fortune on consultants or taking the risk of using spreadsheets."
Since going live with Reval Express in January, Reval has signed four new clients, each of whom were faced with the need for immediate FAS 133 solutions. For one client, Reval helped solve the companyâs year-end FAS 133 reporting needs within 24 hours of initial contact.
Reval Express services include:
-Financial markets data collected and verified by Reval operations staff
-Market-standard pricing models for a broad range of foreign exchange and interest rate products to generate pre-trade comparative pricing and monthly marks-to-market for risk management and reporting
-Hosted database and application processing with 24/7 access via web browser
-Fully compliant FAS 133 hedging accounting tools, including on-line FAS 133 guidance via the FAS 133 DoctorÃ¤
-Access to experienced financial market professionals
"By using the power of the ASP model and our base of financial and FAS 133 expertise, we can offer a fully managed solution at a very low price point, said Woo Song, Revalâs Co-Founder and CTO. "And as Reval Express clients increase their hedging management, we can transition them seamlessly into the broader Reval service offerings."