303 Capital Partners Selects SunGard's Kiodex
25 October 2004 | 559 views | 0
Source: SunGard Trading and Risk Systems
SunGard Trading and Risk Systems, an operating group of SunGard (NYSE:SDS), today announced that 303 Capital Partners, a Chicago-based fund-of-funds, has selected Kiodex for risk management and control of its natural gas trading arm, National Trading.
303 Capital selected Kiodex because it required a transparent risk management solution to help it to improve efficiencies and determine appropriate levels of capital allocation.
303 Capital will use Kiodex RiskWorkbench to monitor and value National Trading's natural gas positions and to perform risk analysis and management. Kiodex RiskWorkbench will provide Web-based risk reporting, independent valuations and market data, providing increased automation and control.
Steven Amiel, one of the principals at 303 Capital, said, "As we grow our natural gas trading business we required a broader-based and more cost-effective solution to help us to monitor positions and manage risk. Kiodex will help to provide increased transparency and control of our natural gas trading operation. As an ASP-based solution, Kiodex will help us to quickly improve our operating efficiency with minimal upfront investment and maintenance costs."
Raj Mahajan, president of SunGard Trading and Risk Systems' Kiodex operating unit, said, "Kiodex provides a comprehensive Web-based solution to fund-of-funds looking to better manage their commodities trading operation. Kiodex RiskWorkbench provides the analytics, data and risk reporting unique to commodities, including OTC commodities market curves daily on 143 different commodities. Customers can price and value commodities based on that data and apply the appropriate analytics that take into consideration the different factors at play with these asset classes, such as seasonality, mean reversion and their physical nature."