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 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."
About Wallstreet
Wall Street Systems (Wallstreet) provides functionally rich, integrated and scalable solutions for improved workflow, control and overall productivity for corporate treasury, bank treasury, central banking, FX trading and global back office operations. Wallstreet is the market leader in FX trade processing and through its award–winning products, including Wallstreet Suite, Wallstreet Treasury, Wallstreet FX and Wallstreet BackOffice, the company processes millions of transactions, aggregating to trillions of dollars, every day.
With a 20 year heritage, Wallstreet has an outstanding reputation for quality and responsive service, and prides itself on helping its clients achieve long lasting benefits and results. Its 500 employees service over 300 banking, corporate and central bank clients, operating out of 12 offices worldwide. The company is a privately held corporation, and is majority owned by Warburg Pincus, a global private equity investor. For more information, please visit www.wallstreetsystems.com. For information in Japanese, please visit www.wallstreetsystems.com/
About Reval
Reval® is the leading derivatives risk management solution provider delivered under the "SaaS", or Software–as–a–Service model, for companies hedging Foreign Exchange, Interest Rate, Energy, and Commodity risk. Designed for financial professionals by financial professionals, Reval´s fully hosted Web–based solutions help companies follow the requirements of FAS 133/157, IAS 39, IFRS 7 and 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. Headquartered in New York since its founding in 1999, Reval has expanded its global presence and also maintains offices in Chicago, Toronto, London, Sydney, and Gurgaon. For more information, please visit: www.reval.com
