Triple Point Technology Launches Hedge Accounting Solution
Triple Point Technology has launched a treasury management and regulatory compliance suite. Commodity XL for Hedge Accounting is a hedge accounting software package that is integrated with the company’s commodity trading and risk management platform. Triple Point says that it meets Sarbanes-Oxley, FAS 133, IAS 39, SAS 133, CICA 3865 and AASB 139 regulatory compliance requirements. The company claims that the integration between the solution’s trading, risk management and hedge accounting function eliminates data silos and redundant data input, providing accessibility of information throughout the organisation. Saving trades in a single data repository ensures ‘one version of the truth’ across the organisation and can eliminate errors from re-keying hedge information into spreadsheets or point applications. The integration also provides information to accounting systems for accurate updates of financial statements.