SunGard says that the Bank of Oklahoma (BOk), based in Tulsa, with operations in seven US states, has gone live on SunGard’s Kiodex Risk Workbench for energy derivatives pricing of new trades, and has completed the migration of existing trades to the Workbench for position keeping and risk management on the complete portfolio.
Kiodex Risk Workbench is a Web-based commodities risk management application that integrates deal capture, valuation models, risk measurement, financial reporting, and independent market data.
“Using the ASP-based and standard risk reports provided by SunGard’s Kiodex Risk Workbench helps us to continue to extend the important energy derivatives services we provide to our commercial loan customers, without adding operational and technology resources,” says Brett Dean, the chief operating officer at BOSC (a BOk subsidiary). “It was important to us to move to a commodity-specific solution. Kiodex’s ability to price a wide array of commodities helps us to provide our clients with the full advantage of accurate and independent valuation and risk reporting for commodity instruments, whether simple or complex. Because of its Web-based delivery and easy implementation we were able to start using Kiodex and its global market data quickly to price a full range of commodity products.”
“BOk and SunGard’s support team for Kiodex can be very proud of the joint accomplishment of rapidly migrating BOk’s sizable existing energy derivatives business, with trades numbering in the thousands, in very short order,” adds Ben Jackson, the chief operating officer of SunGard’s Kiodex business unit. “BOk is taking broad advantage of what Kiodex offers, including front-ends and pricing tools for traders, the back office functionality for operations and the Greek and full Monte Carlo VaR reports for the risk managers.”