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Financial risk management solution provider Reval opens Australian office to meet Asia Pacific demand

  • 31 October, 2007 16:11

<p>Reval®, a global leader in financial risk management solutions and services, today announced the opening of its first Australian office in Sydney to service its existing clients and develop its presence in the Asia Pacific market by meeting the growing regional demand for its robust, transparent and auditable derivatives management solution, HedgeRx®.</p>
<p>Reval is the leading global provider of derivatives risk management delivered under the Software as a Service (SaaS) model, for companies hedging foreign exchange, interest rate, energy or commodity risk. Reval’s fully hosted web based solutions ensure companies comply with international accounting standards IAS 39, FAS 133, FAS 157, and the local obligations of AASB 139 and AASB 7.</p>
<p>Tony Singleton, VP Sales Asia Pacific is responsible for the strategic direction of the new regional office. He brings to the position more than 23 years of technology and finance experience as a Country Manager/General Manager of technology companies including Sybase Australia and has held senior management positions with leading financial institutions including Bankers Trust Australia.</p>
<p>Singleton commented, “Reval’s SaaS model and multi asset class capability, particularly commodities coupled with our integrated and independent market data is especially attractive to the local markets. Furthermore, we’re planning significant expansion in the Asia Pacific segment adding regional staff and further offices within the next six months. The aim is to establish the Australian office as the regional centre of excellence from which we can expand into South East Asia and Japan throughout 2008.”</p>
<p>“In Australia, the increased rate of adoption of HedgeRx and similar technologies has been driven by the introduction of hedge accounting standards and the requirement to mark derivatives to market. This obligation was introduced in early 2007 with an amendment to Accounting Standard AASB 139 (Financial Instruments: Recognition and Measurement) to comply with International Accounting Standard (IAS) 39,” he said.</p>
<p>“More recently the requirement for companies to comply with the disclosure requirements of AASB 7 is generating considerable demand for Reval’s solutions,” added Singleton.</p>
<p>In addition to its flagship product HedgeRx® – delivered as a subscription service – Reval also offers a fully outsourced service, HedgeRx Plus® and a pricing and valuation service, Reval Center®.</p>
<p>Reval was founded in 1999 with offices in the USA, the UK, India and now Australia. It maintains an international base of more than 160 clients including iconic names like Lloyds, Mitsubishi, Royal and Sun Alliance, Woolworths, General Motors, GlaxoSmithKline and Commerzbank.</p>
<p>In the Asia Pacific region, Reval’s clients include Qantas, Woodside Petroleum, Australian Wheat Board, Deloitte and Standard Chartered Bank in Singapore.</p>
<p><b>About Reval</b></p>
<p>Reval® is the leading derivatives risk management solution provider delivered under the Software as a Service (SaaS) model, for companies hedging Foreign Exchange, Interest Rate, Energy or Commodity risk. Designed for financial professionals by financial professionals, Reval's fully hosted web based solutions help companies follow the requirements of derivative hedge accounting (FAS 133, IAS 39, CICA 3865) and gain better controls to support Sarbanes-Oxley compliance. The benchmark for treasury best practices, Reval's products can be rapidly deployed and are easily integrated with other systems. Founded in 1999 and based in New York, London and Sydney, Reval maintains a global client base of corporate treasuries, insurance companies and financial institutions that hedge with derivatives.</p>
<p>For more information, visit www.reval.com or email info@reval.com.</p>
<p><b>Media Contact</b></p>
<p>Dana Hartwig</p>
<p>Ph: 02 9212 3848</p>
<p>E: dana@kinetics.com.au</p>

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