SunGard buys ICE Risk platform

SunGard buys ICE Risk platform

Fintech giant SunGard has acquired the ICE Risk commodity trading system from market operator IntercontinentalExchange. Financial terms were not disclosed.

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.

SunGard says the acquisition will add real-time exchange connectivity, valuation and risk capabilities for futures, options and swaps across multiple asset classes to its Kiodex SaaS offering. Kiodex is a Web-based commodity trading and risk management system.

Adding ICE Risk to Kiodex will help provide trading advisors, hedge funds, market makers and high volume trading funds with real-time valuation and risk capabilities for futures and other cleared products, says SunGard. Prime brokers and futures commission merchants 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 alerts on hedge book valuation changes.

Ben Jackson, COO, SunGard Kiodex business unit, says: "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."

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