The Kiodex Risk WorkbenchSM now available for corporations needing to manage their energy price exposures NEW YORK, NY, October 16, 2001 - Kiodex, Inc., a provider of Web-based risk management solutions for the commodity markets, today announced the launch of its flagship risk management application, the Kiodex Risk WorkbenchSM. "I'm proud to announce the first release of the Kiodex Risk Workbench," said R. Martin Chavez, CEO of Kiodex. "When my cofounders and I started the company nineteen months ago, we set out to create a revolutionary Web-based service for risk management. We've done exactly what we said we're going to do."
The Kiodex Risk WorkbenchSM is a Web-based risk management system that provides pricing tools, market data, and financial reports to assist corporations in managing their earnings exposure to market price risk and facilitating compliance with US GAAP and FAS 133 requirements. Unlike other risk management systems, the Kiodex Risk WorkbenchSM integrates its three core services into a single application and will provide direct trade feeds from leading online energy trading platforms such as EnronOnlineTM and enymexSM.
Using the Internet as a distribution platform, the Kiodex Risk Workbench provides corporate treasury professionals, risk managers, and procurement officers immediate and affordable access to superior risk management technology.
Some of the features the Kiodex Risk WorkbenchSM provides its users are:
Pricing Calculators, which allow users to value all instruments before trade
Risk Reports, which include: profit & loss reports, mark-to-market reports,
settlement reports, position reports, and portfolio sensitivity (delta,
gamma, vega, theta) reports;
The Kiodex Global Data Series, which is a ready-to-use aggregation of market
data from a variety of reputable industry sources, plus data editing
Scenario Analysis, which allows market data to be changed to reflect
hypothetical market situations for full stress-testing of portfolios, and
Trading controls and an audit trail, which enable clients to establish
strict access rules for trading, valuation and reporting and generate
complete audit trails for user activity.
Another key feature of the Kiodex Risk WorkbenchSM is its ability to facilitate compliance with the new FAS 133 reporting regulations. The Risk WorkbenchSM facilitates FAS 133 compliance through three key capabilities. First, it provides the market data needed to accurately value trades and positions at any point in time; second, it provides a framework within which positions and deals can be matched and grouped for accounting and reporting purposes; and third, it maintains documentation and audit trail information, which is essential for verification by auditors. Kiodex is currently collaborating with a Big Five accounting firm on a second release of the Risk WorkbenchSM that will include a comprehensive, automated FAS 133 module.
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