Reval launches low-cost hedging tool for corporates
TECHNOLOGY NEWS
NEW YORK -- Risk management system provider Reval has developed an online derivatives hedging service, called Reval Express, to enable US corporates to comply with derivatives Financial Accounting Standard 133. The system offers FX and interest rate modules, though clients have only signed to the rates facility so far.
The online valuation and back-office reporting system, intended to provide an affordable means for firms that hedge only lightly, will cost $6,000 a year for companies executing 10 hedging transactions a month. The price rises with greater transaction volume.
Dino Ewing, Reval's chief financial officer in New York, said the service is a spin-off from Reval's more comprehensive risk management system, Reval Level 1, released in January 2001.
He hopes more corporates will use the system as an alternative to the Windows spreadsheet calculator Excel. He said reliance on Excel for managing corporate risk exposures introduced human error concerns and made a poor database substitute. And: "Reval Express is lower cost than doing it internally," he added.
Ewing said Reval Express has five customers, all medium-sized manufacturers and farm credit institutions, but declined to name them.
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