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."