Wall Street Systems releases hedge compliance module

Wall Street Systems releases hedge compliance module

Financial IT vendor Wall Street Systems has launched a hedge compliance module designed to meet international accounting requirements.

The module, which replaces the vendor's original hedge accounting system, addresses global hedge accounting standards including FAS 133, IAS 39, AcG13 in Canada and SAS 33 in Singapore.

The application includes improved documentation and reporting functionality and enables valuations of external transactions to be uploaded from an external source.

When used with the vendor's treasury engine, the module allows users to report hedge gains and losses on a fair market value basis. The system's hedge tracking and linking functionality brings exposures and hedging transactions together and automatically creates the accounting entries for each type of classification. All valuations and changes in values are written to a time series database.

Keith Bergman, business solutions manager for the module at Wall Street Systems, says many treasuries are still unprepared for amount of the documentation, accounting entries, and on-going assessment that comes with complying.

"With the launch of the new hedge compliance module, The Wall Street System meets the requirements of the evolving worldwide hedge accounting standards," he says.

Wall Street Systems says the first customer is expected to go live with the module at the end of the year.

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