SunGard Acquires ICE Risk Solution
SunGard has acquired the ICE Risk commodity trading solution from IntercontinentalExchange (NYSE: ICE). ICE Risk is a real-time position-keeping and risk management system that captures and values exchange-traded and cleared products across multiple trading venues.
New York, NY (Vocus/PRWEB ) May 11, 2009 -- SunGard has acquired the ICE Risk commodity trading solution from IntercontinentalExchange (NYSE: ICE). ICE Risk is a real-time position-keeping and risk management system that captures and values exchange-traded and cleared products across multiple trading venues. ICE Risk also provides exchange connectivity with real-time trade feeds. The acquisition, the terms of which were not disclosed, is not expected to have a material impact on SunGard's financial results.
ICE Risk will add real-time exchange connectivity, valuation and risk capabilities for futures, options and swaps across multiple asset classes to SunGard's Kiodex Software-as-a-Service (SaaS) solution. SunGard's Kiodex is a Web-based commodity trading and risk management solution that integrates trade capture, valuation models, risk measurement, financial reporting and independent market data. Kiodex's SaaS delivery model provides an automated, Web-based environment that helps customers to simplify implementation, accelerate time-to-market and gain ongoing processing efficiencies, while requiring minimal IT support.
Increasing regulation and a lower tolerance for counterparty risk are leading many commodity trading firms to favor clearing through an exchange clearinghouse. Adding the capabilities of ICE Risk to the Kiodex commodity trading and risk management solution will help provide commodity trading advisors, hedge funds, market makers and high volume trading funds with real-time valuation and risk capabilities for futures and other cleared products. With ICE Risk as part of SunGard's Kiodex, prime brokers and futures commission merchants (FCMs) will have access to a real-time risk dashboard and customer profit and loss information; banks will have access to a real-time counterparty risk dashboard; and corporations will be able to receive real-time alerts on hedge book valuation changes.
Ben Jackson, chief operating officer of SunGard's Kiodex business unit, said, "The market dynamics and regulatory environment today point to a continued increase in trading activity in exchange-traded and cleared products. Commodity traders, actively trading in these markets, require the ability to view and value executed trades in real time in order to achieve greater control over risk and exposure. ICE Risk combined with Kiodex will offer traders real-time positions and prices for valuing exchange-traded and cleared products in real-time. This will help commodity traders view any level of the deal's underlying structure to the lowest level of exposure."
About SunGard's Kiodex
A Web-based trading and risk management solution for commodities traders, delivered on a Software-as-a-Service basis, Kiodex integrates deal capture and risk management capabilities with valuation models and independent market data. Traders, hedge funds and corporations with exposure to commodity prices use Kiodex to help measure risk, design optimal hedging strategies, improve price execution, and comply with accounting best practices. Visit SunGard's Kiodex at www.sungard.com/kiodex.
About SunGard
SunGard is one of the world's leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries, including the world's 25 largest financial services companies.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented five times. For more information, please visit SunGard at www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
Trademark Information: SunGard, the SunGard logo and Kiodex are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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