The Department of Finance Canada Extends its Relationship with Reval to Value Complex Bond Options
2008-09-22 23:39:01 -
www.reval.com - Reval Tracy Kantrowitz, 212-901-9711 tracy_kantrowitz@reval.com Reval(R), a global leader in financial risk management technology solutions and services, announced today that the Department of Finance Canada is utilizing Reval Center, Reval's independent derivative valuations to provide option fair values for their Canada Savings Bond (CSB) and Canada Premium Bond (CPB) retail bonds.
Reval Center will continue an existing relationship with the Department of Finance Canada to provide valuation of the special redemption features of the CSB and CPB bonds. Under the previous agreement, Reval priced options over $1.9 billion of these types of bonds issued by the Department last year.
In an effort to consistently price embedded options in CSB's and CPB's with the Government of Canada Bonds, the Department of Finance Canada is using Reval Center to provide option prices for the structured bonds.
The options are valued under a number of methods taking into account historical redemption patterns, funding costs, and multiple future market environments.
"We are very pleased to continue working with the Government of Canada and look forward to continuing to provide our service to the Department of Finance and its many retail investors of CSBs and CPBs," said Jiro Okochi, CEO and Co-Founder of Reval.
About Reval
Reval(R) is the leading derivatives risk management solution provider delivered under the Software as a Service (SaaS) model, for companies hedging foreign exchange, interest rate, energy or commodity risk. Designed for financial professionals by financial professionals, Reval's fully hosted web based solutions help companies follow the requirements of derivative hedge accounting (FAS 133, IAS 39, 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. Founded in 1999 and based in New York, London and Sydney, Reval maintains a global client base of corporate treasuries, insurance companies and financial institutions that hedge with derivatives.
For more information, visit www.reval.com or email info@reval.com.
About The Department of Finance Canada
The Department of Finance serves as the government's primary source of analysis and advice on the economic, fiscal, and tax implications of key government priorities. Its responsibilities include preparing the federal budget, developing tax and tariff policy and legislation, managing federal borrowing on financial markets, administering major transfers of federal funds to the provinces and territories, developing regulatory policy for the country's financial sector, and representing Canada within international financial institutions.
About Reval
Reval(R) is the leading derivatives risk management solution provider delivered under the Software as a Service (SaaS) model, for companies hedging foreign exchange, interest rate, energy or commodity risk. Designed for financial professionals by financial professionals, Reval's fully hosted web based solutions help companies follow the requirements of derivative hedge accounting (FAS 133, IAS 39, 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. Founded in 1999 and based in New York, London and Sydney, Reval maintains a global client base of corporate treasuries, insurance companies and financial institutions that hedge with derivatives.
For more information, visit www.reval.com or email info@reval.com.
About The Department of Finance Canada
The Department of Finance serves as the government's primary source of analysis and advice on the economic, fiscal, and tax implications of key government priorities. Its responsibilities include preparing the federal budget, developing tax and tariff policy and legislation, managing federal borrowing on financial markets, administering major transfers of federal funds to the provinces and territories, developing regulatory policy for the country's financial sector, and representing Canada within international financial institutions.
Reval Provides Custom Valuations for $1.9 billion of Canada
Savings Bonds and Canada Premium Bonds
