- Ada, named after Ada Lovelace, is a new portfolio valuation and hedge accounting SaaS portal that provides real-time portfolio information, treasury and accounting reports
JCRA, the independent financial risk advisor, today announces the launch of Ada, the new digital financial risk management portal for finance directors, portfolio managers and accounting teams. Ada provides real-time access to debt and derivative portfolios and treasury and accounting reports. Ada is named after Ada Lovelace, the 19th-century visionary British mathematician and computer pioneer whose former home at 12 St James’s Square in London is the European headquarters of JCRA.
Through Ada, clients can quickly access an overview of debt and derivative instruments in their portfolio or drill down into individual entities and instruments to the mark-to-market (‘MtM’) value. Clients are further able to view individual instrument cash flows and LIBOR fixings, for both historical and projected values.
JCRA clients will have instant access to a range of risk management reporting tools. This includes projected MtM reports, which illustrate implied MtM projections by instrument; cash flow reports to show scheduled interest and principal payments for debt and interest rate derivatives; cost of funds and projected cost of funds reports; hedge ratio reports that show projections for hedged and unhedged debt positions as well as positions split by fixed and option based hedging. Clients can view all reports at group and entity level.
Commenting on the launch of Ada, Jackie Bowie, CEO of JCRA, said: “We feel very fortunate to work in a building that is so closely associated with Ada Lovelace and are delighted to launch our new platform in her name. Thanks to Ada, accounting for derivatives via manual spreadsheets will be a thing of the past. Furthermore, Ada will strengthen clients’ existing treasury management systems and reduce the financial reporting burden for finance directors, portfolio managers and accounting teams who have to manage often complex derivatives portfolios. Ada will consolidate the vast quantity of derivatives information, positions and documentation into one easy-to-use, well-organised digital platform that provides a live and swift overview of transactions.”
Ada is an IFRS9, USGaap and UKGaap (FRS102) derivatives accounting solution that provides MtM reports with credit valuation adjustment (‘CVA’) and a debit valuation adjustment (‘DVA’). Clients can make journal entries for cash flow hedge accounting instruments and non-designated hedges. They have cash flow hedge accounting support, which includes designations, regression testing and ineffectiveness measurement based on hypothetical derivatives. JCRA will also provide year-end quantitative disclosures including liquidity risk, market risk and long-short split.