SunGard Acquires Kiodex Compliance Tool
SunGard Trading and Risk Systems has acquired Kiodex, a supplier of Web-based risk management, financial reporting, FAS 133 compliance and market-data systems for companies exposed to commodities risk. Kiodex products -- Kiodex Risk WorkBench and Kiodex Global Market Data -- are delivered via an application service provider framework. Terms of the transaction were not disclosed.
The acquisition of Kiodex expands SunGard's portfolio of ASP-based risk services into solutions for managing commodities risk, serving corporate end-users and intermediaries, financial institutions and hedge funds that trade commodities. SunGard says it added 19 customers in 2004 for Web-based risk-management services.