Austock signs Reval for hedging tool
Thursday, 30 October 2008 12:25pm
Austock Treasury and software provider Reval have partnered to ensure Austock clients can effectively produce hedge accounting reports and manage risk.
The partnership means Austock clients can accurately report their hedging practices and independent derivative valuations using Reval's HedgeRx software.
According to PriceWaterhouseCoopers, hedge accounting modifies the usual accounting treatment of a hedging instrument to recognise their offsetting changes in fair value or cash flows in profit or loss at the same time.
Austock's mid-cap clients are set to benefit the most from the enhancements as those companies may have limited resources or experience in effectively hedging financial risks.
"It enables us to deliver a full treasury service to clients as a ‘virtual treasurer' with a market leading platform," said Justin Williams, Austock head in Treasury Risk Advisory.
"For clients with low transactional volumes we manage their reporting in-house and when they grow bigger we can outsource with Reval or introduce HedgeRx directly as deal volumes dictate."
Reval is a derivatives risk management solution provider which supplies software for companies to hedge foreign exchange, interest rate, energy or commodity risk.
Michael Hobbs
This story was found at: http://www.financialstandard.com.au/news/view/24385
Printed: Thursday, 11 March 2010 11:00am