NEW YORK (HedgeWorld.com)–SunGard Trading and Risk Systems, an operating group of SunGard Data Systems Inc., announced its acquisition of Kiodex Inc., New York.
Kiodex is known for the Kiodex Risk Workbench and Kiodex Global Market Data, risk-management tools delivered on an application service provider framework. SunGard acquired Kiodex in order to expand its own ASP-based portfolio, officials there said in a statement Tuesday.
Raj Mahajan, Kiodex president, will continue as president of the Kiodex operating unit of SunGard Trading and Risk Systems. He said Wednesday that this unit will continue to market to hedge funds, corporate hedgers and financial institutions that trade commodities, as well as energy producers and intermediaries. He added that “we see our offerings as complementary to other SunGard services,” such as Adaptiv (for global credit risk management) and the Reech solutions for derivatives valuations and buy-side risk.
This acquisition is a natural follow-through of SunGard’s purchase of a U.K.-based provider of risk management products, Reech Capital plc, in June 2003.