September 23, 2008 - Veotoro Management, a Miami-based commodity hedge fund, implemented SunGard’s Kiodex Risk Workbench for commodity trading and risk management.
Veotoro will use Kiodex to manage portfolio risk using a range of reports for risk analysis, profit and loss, attribution, mark to market and value at risk (VaR). Kiodex will support the new fund’s relative value trading strategy in commodities and in the global energy sector.
Delivered as a 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. By providing commodity-specific risk analysis tools and data, Kiodex helps Veotoro to accurately value its portfolio of commodity and energy trades and manage portfolio risk. Kiodex’s SaaS delivery model provides an automated, Web-based environment to help Veotoro simplify implementation, accelerate time-to-market, gain processing efficiencies, reduce ongoing maintenance and support costs.
Virgilio Guma, managing director at Veotoro Management LLC, said, “Kiodex’s risk analytics, combined with the provision of global market data, sets it apart from other solutions. Not only does Kiodex provide independent valuation of our commodity portfolio, but it can also help us identify trading and arbitrage opportunities. In addition to meeting our aggressive timelines, Kiodex has helped us to streamline our daily trade entry and broker processes, accurately reflect our trading strategies and achieve straight-through processing through integration with our trading platforms. SunGard has demonstrated Kiodex’s proven value in supporting comparable objectives in other hedge funds.”
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