Hedge Trackers, a premier provider of hedge program management solutions for foreign currency, interest rate and commodity risk, today announced that early adoption of ASU2017-12 is being supported through its outsourcing services and its derivative accounting software, CapellaFX.
ASU2017-12 was released by the FASB last August 2017 to provide more flexibility than the former rules and makes hedge accounting a more attractive option for corporations and financial institutions. Businesses using or anticipating the use of foreign exchange (FX), interest rate (IR) and commodities hedge programs as part of their financial planning need to be aware of these changes for successful implementation and management of such a program.
“Clients have until the end of the year to start meeting the new requirements. However, we’ve been working with early adopters in our client base across all asset classes,” said Karen Gubler, director, FX and commodities, Hedge Trackers. “We’ve been receiving feedback that some other platforms aren’t ready for the conversion. It’s a great position to be in to say to our clients, ‘We’re ready when you are.’”
“Our interest rate team has been converting clients who are taking advantage of the new strategies available to interest rate hedgers,” said Ruth Hardie, senior director, client services, Hedge Trackers. “Our specialists ensure that you receive the best that hedge accounting offers whether you are looking to fix variable interest or protect the value of fixed rate assets or liabilities.”