MINNEAPOLIS, MN – June 23, 2016 – HedgeStar, the leading independent provider of hedge accounting services worldwide, and Proveedor Integral de Precios Todos (PIP), the leading independent provider of market data, valuation, and risk analytics in Latin America, have expanded their partnership to provide IFRS 9 hedge accounting services. As a result, financial institutions and public corporations across the region will have an independent, outsourced, and cost-effective solution for adopting IFRS 9 hedge accounting by the January 1, 2017 prior period report date.
Clients of PIP will benefit from HedgeStar’s hedge accounting automation, on-call Certified Public Accountants (CPAs), and auditor interface, while still being served by local PIP representatives. Both HedgeStar and PIP are independent providers, enabling clients to meet regulatory requirements for transparency and independence.
“We are excited to work closely with PIP on this IFRS 9 hedge accounting partnership,” said Odin Soli, managing director of HedgeStar. “No longer will Latin American banks and corporations have to bear the costs and risks of internal IFRS 9 hedge accounting, or run afoul of regulators by sourcing hedge accounting from their auditors. Now they can get world-class IFRS 9 hedge accounting with local market expertise from independent providers.”
“Latin America needs an independent and cost-effective means of complying with IFRS 9,” said Alfredo Font, chief executive officer of PIP. “Together PIP and HedgeStar offer the region’s only comprehensive suite of valuation, risk analytics, and hedge accounting services that meet regulatory requirements for transparency.”
Since 2004, HedgeStar (formerly DerivActiv) has been a leading independent provider of hedge accounting, fair value, and valuation services. Over 1,400 clients worldwide rely on us for outsourced hedge accounting for ASC 815, IFRS 9, and GASB 53 and fair value measurements for ASC 820, IFRS 13, and GASB 72. HedgeStar’s on-call Certified Public Accountants (CPAs) and valuation experts provide personalized service and ensure that client and auditor questions are answered quickly and correctly. Learn more about us at www.hedgestar.com.
Since 2000, PiP has been the leading independent provider of market data, valuations, and risk analytics in Latin America. Its products include closing price calculation, curves, databases, calculators and customized products, within which the valuation of derivative instruments and structured notes is included. It also provides analytical risk and stress scenarios. For more information, please visit www.piplatam.com.
Heidi Lindahl, Marketing Manager