- Leading UK Housing Association to Use
- Reval´s SaaS Treasury and Risk Management (TRM) Solution
Reval, a leading global Software-as-a-Service (SaaS) provider of comprehensive and integrated Treasury and Risk Management (TRM) solutions, announced today that Circle Housing Group (Circle), one of the UK’s leading providers of affordable housing, has selected Reval to streamline hedge accounting workflows and enable informed hedging decisions, increasing control over P&L volatility.
“Working with Reval´s expert team and leveraging its SaaS TRM solution, Circle will be able to better understand and mitigate financial risk, and apply hedge accounting treatment where appropriate,” says Peter Moore, Assistant Director Corporate Finance at Circle. “Choosing one of the leading providers of financial risk management and hedge accounting solutions provides us with a great deal of comfort. We know that we have the right tools and the right strategic partner to move forward with confidence.”
“We are very pleased that a leading organization such as Circle trusts our expertise and solutions, and we are looking forward to helping them reach their goals for improved efficiencies and control,” says Peter Reynolds, Regional Vice President Western Europe at Reval. "In particular, Reval will support Circle with derivative valuations and financial reporting required under recently published FRS 102."
FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, effective for periods beginning on or after 1 January 2015, will significantly change the reporting landscape by bringing all derivatives on balance sheet at fair value. Applicable for profit and public benefit entities, financial reporting requirements will depend on the nature and size of an entity.