TOM DUGGAN: Allow me to introduce you to Peter Seward. Peter is the Vice President of Product Strategy at Reval and responsible for the strategic direction of Reval's SaaS/Web-based platform, and the Reval Center valuation hedge accounting service. He has also written the modules, Reval IAS 39 and the FAS 161 Doctors. Peter has over 15 years experience in the financial services software business spanning Asia-Pacific, Europe, and North America. Prior to Reval, he was sales engineer at Principia Partners and custom development project manager for Integrity Treasury Systems in both Sydney and Chicago, and also was manager of treasury systems at Rabobank in Australia in Sydney. He holds a bachelor of science in mathematics and economics from the University of Western Australia. So I'd like to turn it over to Peter and Reval. Thank you.

PETER SEWARD: Thank you, very much, Tom, and it's a great pleasure to represent Reval to present the 2010 Alexander Hamilton Awards for financial risk management. First of all, I'd like to congratulate the three companies represented here today: Microsoft, Visa, and Thomson Reuters. And they're represented: Visa by Alan Weindorf, Microsoft by Joel Combs, and Thomson Reuters by David Shaw.

Now two of the presentations today cover currency hedging, so I just wanted to spend a couple of minutes just talking about FX risk and the current state of the markets and what corporates are facing, particularly in evaluating their own exposures, and more importantly, communicating to external stakeholders within their companies what exactly they're doing as regards to hedging. And so a lot of treasury professionals talk shop and have a very solid understanding of different hedging strategies, evaluating risk, etc.; but in the last couple of years, they've probably been inundated by requests from their board to explain, you know, the impacts of various Fed decisions, changes in currency movements, etc., and really to justify exactly what they're doing and to give help and guidance and counsel about what might happen in the future.

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