Source: Wall Street Systems
Wall Street Systems (Wallstreet), the global provider of treasury, trading and settlement solutions and services, today announced a new partnership with Reval, a global leader in financial risk management.
The partnership will enable Wallstreet to offer clients a wider choice of automated hedge accounting solutions, helping them to meet the growing demands of FAS 133, FAS 157 and IAS 39 accounting standards.
Wallstreet chose to partner with Reval due to its comprehensive, award winning hedge accounting solution for banks and corporations. Delivered through Software as a Service (SaaS), Reval's multi-asset class solution is designed for leading global organisations and covers foreign exchange, interest rates, energy and commodity risk hedging. For Wallstreet clients that opt for this, Reval's technology will be integrated with Wallstreet's treasury and transaction processing solutions. Not only will the extended solution provide independent valuations and aid compliance, but it will also enable users to more effectively manage P&L volatility and reduce restatement risk.
Joergen Jensen, director of corporate solutions at Wallstreet, commented: "We pride ourselves in delivering best of breed solutions that matches client requirements, whether developed in-house or by partners. Working with Reval will mean we can extend our offering to our clients and deliver solutions for a greater range of accounting and hedge accounting requirements. All sizes of treasuries will be able to benefit from this partnership. Our clients will now have a choice of solutions that can address their needs for accurate and independent hedge accounting."
Reval's web-based products, which include the flagship Reval HedgeRx® solution, can be rapidly deployed. 200 multi-national organisations currently use this - many of which are mutual Wallstreet clients. In addition to attracting existing clients to the Wallstreet-Reval solution, the two companies also expect to drive new business through their combined efforts.
"We are very proud to be recognised by Wall Street Systems as its recommended partner for hedge accounting. We already have mutual clients which use both Wallstreet and Revannd Reval technology, so we look forward to leveraging the integration," said Reval CEO, Jiro Okochi. "We are excited to work with the Wallstreet team and developing a strong, long-term partnership."