Sirius Solutions Selects Triple Point's Commodity Management Software to Manage its Derivative Valuation and Hedge Reporting Practice

HOUSTON, Jan. 17, 2012 /PRNewswire/ -- Sirius Solutions, L.L.L.P., an independent business consulting services firm, today announced that it has selected Triple Point Technology's cloud-based software, Commodity XL for Hedge Accounting™™™, to manage derivative valuation and hedge reporting for its clients. Triple Point is the leading global provider of cloud and on-premise Commodity Management software that delivers advanced analytics to optimize end-to-end commodity and energy value chains.

Sirius Solutions will utilize Commodity XL to assist its clients with:

• Hedge decision making
• Curve validation
• Mark to market valuation
• Financial reporting
• Compliance – Sarbanes-Oxley, ASC 815, IAS 39, ASC 820

"An upgrade to our proprietary valuation solution was essential due to the growing and complex needs of our clients," said Kristi Chickering, CEO, Sirius Solutions. "Commodity XL will enable us to enhance our existing capabilities and provide more robust documentation while delivering the same deep hedge reporting, derivative advisory solutions, and superior service that our customers have come to depend upon."

Commodity XL for Hedge Accounting is a robust Software Assisted Compliance solution that automates the entire hedge accounting process for commodities. It supports a comprehensive risk management program that enables firms to balance optimal economic benefit, risk management and stable financial statements. It provides a single platform to effortlessly ensure compliance with ASC 815 (FAS 133), IAS 39 (IFRS 9), CICA 3865, AASB 139 and SAS 133.

"Companies that rely on homegrown hedge accounting systems or spreadsheets face the herculean task of keeping up with complex standards and ensuring modifications are reflected accurately in their systems," said Mike Zadoroznyj, vice president, treasury and regulatory compliance, Triple Point. "By using Commodity XL for Hedge Accounting, Sirius Solutions can ensure compliance, enhance hedge strategies, and reduce earnings volatility for its clients so they can focus on growing their businesses."

About Sirius Solutions

Sirius Solutions, L.L.L.P. is an independent business consulting firm specializing in the areas of Financial Advisory, Business Operations, Compliance & Controls, Legal & Economic Advisory and Technology. Our mission is to integrate commercial business experience and deep subject matter expertise for senior management, providing sustainable solutions to complex business challenges. With a base of professionals averaging more than 15 years experience, we serve clients in over forty countries across a wide range of industries, including construction, energy, financial services, health care, manufacturing and transportation. Sirius Solutions is headquartered in Houston, Texas and has offices in London, New York, Dallas and Denver. Sirius Solutions is not a CPA firm. www.sirsol.com.

SOURCE Sirius Solutions, L.L.L.P.