"We are thrilled to add American Airlines to our growing roster of Risk Workbench customers," said Raj Mahajan, Kiodex President."It’s a wonderful testament to our value proposition to have a company of American Airlines’ stature and history on board."
The Kiodex Risk WorkbenchSM is a Web-based risk management system that assists corporations in managing their earnings exposure to energy price risk. Unlike other risk management systems, the Kiodex Risk WorkbenchSM integrates its three core services – sophisticated pricing tools, readily available market data, and risk reports – into a single application. The combination of these three services into an easy-to-use interface enables companies to design, choose, and implement much more effective hedging strategies.
FAS 133 Functionality Another Key Factor
One of the key features of the Risk Workbench that companies value is its ability to facilitate compliance with the new FAS 133 reporting regulations. Kiodex is currently collaborating with a Big Five accounting firm on a second release of the Kiodex Risk WorkbenchSM that will include a comprehensive, automated FAS 133 module.
Second Kiodex Beta Program Participant to Convert to a Customer
Prior to becoming a Kiodex customer, American Airlines participated in the twelve-week Kiodex Risk WorkbenchSM beta program. This marks the second Kiodex beta program participant to become a customer since the Kiodex Risk WorkbenchSM officially launched in mid-October. Eastman Chemical Company also became a customer of the Risk Workbench after participating in the Kiodex beta program. Several more announcements of beta program participants becoming full customers are expected in the near future. Other participants included a cross section of Fortune 1000 corporations representing the Airline, Chemical, Railroad, Food and Beverage, and Oil and Gas industries. Other industries that will benefit from Kiodex’s risk management services include the Manufacturing, Trucking, Tobacco, Mining and Metals, Construction, and Pulp and Paper industries.