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Reval

Reval Exceeds One Million Corporate OTC Derivative Trades

2010-09-09 15:00
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North America's Direct Energy Books Milestone Trade

NEW YORK -- (BUSINESS WIRE) --

Reval, the leading global derivative risk management and hedge accounting solutions provider, reported today that it houses more than one million over-the-counter (OTC) derivative trade contracts valued at US$3.9 trillion in gross notional value in its Web-based system used by corporate end-users hedging commercial risk. Direct Energy, one of North America's largest energy and energy-related services providers, recently processed the one millionth milestone trade.

"In just three to four years, we've seen the flow of trades grow from about 60 thousand per year to about 300,000 trades per year," reports Reval Chief Operating Officer Philip Pettinato. "Reval's ability to scale over a relatively short period of time is considerable because it demonstrates how easily the SaaS platform supports a wide range of instruments used in hedging strategies employed by major industry players such as those in energy and financial services."

Reval's single-version Software-as-a-Service (SaaS) supports a broad range of derivative asset classes for over 400 companies hedging exposures to interest rates, foreign currencies and commodities in the North America, EMEA and Asia Pacific regions. It addresses the complex risk, valuation and accounting requirements that is ongoing in the management of OTC derivative trades.

"We have been a happy client of Reval for six years and have seen their platform scale up as our business and hedging needs have grown," says Direct Energy Technical Accounting Manager, Jodi Herring. Direct Energy uses Reval's Software-as-a-Service (SaaS) for the valuation and cash flow hedging of its natural gas and power exposures.

Reval's ability to handle large volumes of derivatives across asset classes on a single, multi-tenant database over the Internet enables it to be positioned as a Swap Data Repository, one of the new requirements outlined in the Dodd Frank bill.

For more information about Reval, please visit www.reval.com or contact info@reval.com.

Other suggested links: twitter.com/revalacctg4risk

About Reval

Reval® provides financial and accounting professionals with an award-winning, SAS 70 Type II compliant, Web-based platform that supports derivative risk management and hedge accounting. This Software-as-a-Service addresses the need for derivatives to comply with international regulations, such as ASC 815 (FAS 133), ASC 820 (FAS 157), Sarbanes-Oxley, IAS 39 and IFRS 7. The world's leading corporations, financial institutions, and accounting and advisory firms rely on Reval to provide independent valuations of derivative transactions and to assist with the hedge accounting of foreign exchange, interest rates, energy, credit, commodities, and other asset classes. Reval uses its expert teams comprising financial engineers, accounting professionals, and technologists to deliver its critically acclaimed services and products, which integrate easily with treasury management and ERP systems and deploy rapidly. Founded in 1999, Reval has headquarters in New York and regional centers based in Bala Cynwyd, Chicago, San Francisco, Toronto, London, Frankfurt, Sydney, Hong Kong, and Gurgaon.

 

CONTACT:

Reval
Global Public Relations
Zoe Sochor, +1 860 799 7076
zoe.sochor@reval.com
or
North America
Tracy Kantrowitz, +1 212 901 9711
tracy.kantrowitz@reval.com
or
EMEA and APAC
Brendan Nel, + 852 2273 5529
brendan.nel@reval.com