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Kiodex joins forces with SunGard

SunGard has announced that it has extended the company's reach with one more acquisition, of Kiodex, a software company that specialises in supplying systems to companies exposed to commodities risk.

Kiodex, which was bought by SunGard subsidiary SunGard Trading and Risk Systems, supplies web-based risk management, financial reporting, FAS 133 compliance and market data solutions for its commodities clients. The price and terms of the deal have not been disclosed.

Kiodex's main programme, Risk Workbench, is a web-based application that helps companies, banks, and hedge funds hedge and trade commodities: deal capture, valuation models, risk reporting, and back-office functionality. Risk Workbench also has integrated FAS133 and IAS 39 modules. At present, Kiodex offers over 125 forward curves in the crude, natural gas, refined products, power and metal markets.

SunGard also announced today that it had updated the SunGard Basel II CD to cover events up to and including August, and that Bank of Montreal Financial Group had bought SunGard's Adaptiv Credit Risk programme, a credit risk management solution delivered via ASP.

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