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Portfolio > Alternative Investments > Hedge Funds

SunGard Buys Kiodex, Expands Its ASP Services

By Staff Writer

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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.

Kiodex released its flagship product, the Risk Workbench, in 2001 (see Previous HedgeWorld Story). It since has been updated. It provides companies, banks and hedge funds with valuation models, risk reporting, back-office functionality and modules for FAS 133 and for its European analog, IAS 39.

SunGard is a member of the S&P 500 with annual revenue of US$3 billion. The parties would not disclose the terms of the acquisition. Tom Farley will be the chief operating officer within the Kiodex business unit of SunGard, and Charles Reyl will be the vice president for financial engineering.

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Contact Bob Keane with questions and comments at: [email protected].

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