Stagecoach Group plc has selected Reval’s derivative pricing service, Reval Center for independent interest rate and commodities valuations.
Reval Center is an independent valuation service combining market data and analytics which offers fast, accurate and reliable valuations for structured products on an outsourced basis.
Reval Center will perform Stagecoachs valuations using Revals valuation tool, HedgeRx. The service will be used to price a number of products including interest rate swaps, fuel swaps, fuel collars, fuel caps and fuel floors. Under the current market environment, more companies and auditors are placing a larger focus on derivative valuations and putting an emphasis on the need for independent valuations. Reval has seen an increase in business due to these regulatory requirements.
“Given the importance of ensuring accurate and independent valuations of our derivative contracts, we are pleased to have selected Reval to perform this work for us,” says a spokesperson for Stagecoach.
“We are very pleased to be working with a company as innovative as Stagecoach and we look forward to supporting them for the foreseeable future. Most people know Reval for our expertise in hedge accounting. However, we wouldnt be able to do that without accurate and independent derivative valuations,” says Jiro Okochi, CEO and co-founder, Reval.