Reval has upgraded its HedgeRx solution, releasing version 8.0 with a credit default swap module. The new version also includes further enhancements to its FAS 157 module, along with advanced hedge accounting functionality. Reval clients will have received the upgrade through the company’s Software-as-a-Service platform. It is the 27th consecutive version upgrade of the solution since 2001. Many companies have been reporting on FAS 157, a fair valuation disclosure, for the first time from 31 March, meaning that they now need to include the credit and liquidity component of the fair value of their derivatives and any other assets or liabilities that have previously been mark to market. Fair values also need to be tagged with a Level 1 through 3 tag, depending on how reliable the fair value is deemed. The upgraded solution is designed to tackle such problems.
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