Press Releases
India-based SMC Global Securities Selects SunGard's Kiodex to Help Launch Risk Management Business
October 13, 2010 — New Delhi, India
SMC Global Securities, one of India’s largest brokering firms, has selected SunGard’s Kiodex Risk Workbench, a fully integrated Web-based risk management solution, to help its clients in hedging their price risk in foreign exchange, commodities and interest rates. SMC Global Securities also selected Kiodex Global Market Data for its independent market data needs.
Kiodex will help SMC Global Securities establish a corporate hedging desk by assisting with deal capture, reporting and risk analysis of its client portfolios. SMC chose SunGard’s Kiodex Risk Workbench because of its robust risk management tools and its software-as-a-service* (SaaS) delivery model, helping companies quickly bring new business to market.
D.K. Aggarwal, chairman and managing director of SMC Comtrade Ltd, said, “With the globalization of the Indian economy, corporations in India need to have proper risk management systems in place. Through this relationship with SunGard, SMC would be in a position to help its clients to effectively manage price risk volatilities in the foreign exchange and commodities space.”
Ajay Garg, director, SMC Global Securities, said, “SunGard’s Kiodex Risk Workbench and Kiodex Global Market Data will help us streamline deal entry, capture the dynamics of the commodity markets, and give us the ability to view risk from multiple perspectives so we can focus on assisting our clients with their risk management needs.”
Kirk Howell, chief operating officer, SunGard’s Kiodex business unit, said, “India is a rapidly growing commodities market. SMC’s selection of Kiodex extends our existing presence in India to the brokerage community.”
* SunGard Financial Systems is pursuing a visionary initiative to transform some of the key functionality of its core systems into components creating SaaS solutions. Infinity uses SunGard's Infinity Application Framework (IAF), a service-oriented architecture (SOA) development framework, its business process management (BPM) platform and a virtualized, software-as-a-service (SaaS) infrastructure to form a new software development and on-demand delivery environment.
About SMC Group
SMC Group, a leading financial services provider in India, is a vertically integrated investment Solutions Company, with a pan – India presence. Over the years, SMC has expanded domestically as well as internationally, with regional offices in Mumbai, Kolkata, Chennai, Bangalore, Cochin, Ahmadabad, Jaipur and Hyderabad plus a growing network of more than 2100 offices spread across over 425 cities/towns in India. SMC plans to expand its network to 5, 500 offices across 700 cities in the next 3 years, and has also established an office in Dubai.
Its products and services include institutional and retail brokerage of Equity, Commodity, Currency, Derivatives, Interest Derivatives, Online Trading, Investment Banking, Depository Services, Clearing Services, IPOs and Mutual Funds Distribution, Portfolio Management, Wealth Advisory, Insurance Broking, Margin Funding and Research.
About SunGard’s Kiodex
A Web-based trading and risk management solution for energy and commodities markets, delivered on a Software-as-a-Service basis, Kiodex integrates deal capture and risk management capabilities with valuation models and independent market data. Financial firms, hedge funds and corporations with exposure to energy and commodity prices use Kiodex to help measure risk, design optimal hedging strategies, improve price execution, and comply with accounting best practices. Visit SunGard's Kiodex at www.sungard.com/kiodex.
About SunGard
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, please visit SunGard at www.sungard.com.
Trademark Information: SunGard, the SunGard logo and Kiodex are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.