NEW YORK, NY, August 1st, 2002 - Kiodex, Inc., a technology company that provides a Web-services platform for corporate risk management and financial reporting, today announced the signing of a data-distribution agreement with Logical Information Machines, Inc. (LIM). Under the terms of the alliance, Kiodex Global Market Data will be made available to LIM's broad base of customers.
"The importance of high-quality data cannot be overstated," said Joachim Emanuelsson, Co-Founder and Vice President of Strategic Planning for Kiodex. "It is for this reason that we sought an alliance with a company that has proven expertise in world-class data distribution. We're proud to expand our Kiodex Global Market Data offering to the universe of LIM customers and enable them to reap the benefits of our proprietary forward curves and volatility surfaces."
Kiodex Global Market Data currently comprises over sixty different forward curves and volatility surfaces produced by Kiodex's expert market data development team. Kiodex generates the curves daily from a congregation of raw data received from a variety of reputable industry sources. A wide range of energy-intensive industries, both consumer end users and energy producers, already use Kiodex data for pricing short- and long-term contracts and associated OTC hedging instruments, and for yielding independent valuations of their hedge portfolios.
"I am thrilled by this new distribution alliance," said Jim Garland, Executive Vice President of Sales and Marketing at LIM. "LIM is constantly seeking the highest-quality data sets to add to our data warehouse. Kiodex's proprietary forward curves and volatility surfaces are a tremendous addition, and I'm certain that our customers will appreciate the availability of these curves to their current LIM services."
LIM is the preferred enterprise solution for data management and analysis by financial and energy traders, providing historical as well as real-time tick, intra-day, and daily data. LIM supplies its data on a MIM server, with a fast, open design for easy interfacing. Its patented query language allows analysts to test trading strategies and forecast the markets.
Independent Market Data Critical to Unbiased Financial Reporting
One of the key advantages that access to Kiodex Global Market Data provides is unbiased, independent marks against which a corporation can compare its own hedge books. "It's clear from recent business news that, for any company involved in any type of derivatives activity, an objective source of data is invaluable," added Emanuelsson. "Kiodex data provides a corporation a higher level of transparency and greatly reduces the potential impression of impropriety and conflict of interest inherent in pricing its own hedge book." A current Kiodex customer that already uses the Kiodex Global Market Data series for this purpose is Cinergy Corporation, a Fortune 500 energy merchant and a regulated operations corporation.
Mr. Garland concurs, "These are extremely volatile times for the energy industry. Our customers use our market data sources to help them avoid some of the problems that have caused loss of confidence, both in particular energy companies and in the overall industry. With Kiodex's data, we will be fulfilling specific requests from our customers for valuable, OTC forward data."
As a special introductory offer, LIM is offering a 25% discount off the annual subscription price to those companies who sign up for a Kiodex Global Market Data subscription by September 1st, 2002 (subscriptions are billed quarterly, no payments required for the first 90 days.) People interested in learning more about Kiodex Global Market Data available through LIM can call 800-LIM-XMIM (546-9646).