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§ Private Profile · 3 New York Plz, New York, NY 10004, US
SaaS provider of web-based commodities risk management, financial reporting, FAS 133 compliance, and market data for companies.
Key people at Kiodex.
Kiodex, based in New York, New York, United States, provided web-based risk management, financial reporting, and market data solutions for companies exposed to commodities risk. Its key product, Kiodex Risk WorkBench, offered deal capture, valuation models, and back-office functionality via an application service provider (ASP) model, and provided forward curves for key commodity markets. The company secured $27.2 million in total funding prior to its acquisition by SunGard, now part of FIS Global Execution Services, an investor. Kiodex served companies, banks, hedge funds, and energy firms, assisting with FAS 133 compliance and comprehensive risk reporting. Founded in February 2000, Kiodex's founder names are not publicly known. Its business model centers on software-as-a-service delivery of risk management and data solutions, raised venture funding before acquisition.
Key people at Kiodex.
Kiodex was a fintech company that developed web-based risk management, financial reporting, FAS 133 compliance, and market data solutions tailored for companies exposed to commodities risk, particularly in over-the-counter (OTC) derivatives for complex commodities.[1][2][3] It served financial institutions, banks, and commodity-exposed businesses like BOK Financial, Upfield UK, and ED&F Man Capital Markets, helping them achieve cost savings in hedging strategies, stabilize earnings, and integrate valuation models, risk reports, and deal capture into a single platform called the Kiodex Risk Workbench.[1][2][4] The company raised $27.2M in funding before being acquired, marking the end of its independent operations but extending its technology's legacy through integrations like FIS Kiodex for ongoing risk management use.[1][4]
Kiodex emerged in the early 2000s focusing on the challenging OTC derivatives market for complex commodities, as outlined in its communications with the Commodity Futures Trading Commission.[3] Key figure Raj Mahajan played a pivotal role; he was involved during its acquisition by SunGard Data Systems in 2004, where he stayed on for eight years, eventually rising to president of the global trading business.[5] Headquartered at 3 New York Plaza in New York, the company built early traction by addressing FAS 133 compliance and hedging needs in a post-Enron era of heightened financial risk scrutiny, leading to its inclusion in CB Insights' Fintech expert collection.[1]
Kiodex rode the early 2000s wave of fintech innovation in risk technology, capitalizing on regulatory demands like FAS 133 amid commodities volatility and the need for OTC derivatives tools in a pre-clearing mandate era.[1][2][3] Its timing aligned with post-Enron scrutiny on financial reporting and hedging, influencing the evolution toward integrated platforms that later shaped modern risk-tech like those in Chartis RiskTech100 ecosystems.[2] By pioneering web-based solutions, Kiodex contributed to the fintech trend of digitizing risk management, paving the way for acquisitions and integrations (e.g., SunGard/FIS) that embedded its capabilities into broader trading infrastructures, benefiting banks and traders handling complex exposures.[4][5][6]
Kiodex's technology endures as FIS Kiodex, powering risk management for clients like BOK Financial into 2026, with potential growth in AI-enhanced risk analytics amid rising FX options and GenAI use cases in derivatives.[2][4] Trends like real-time clearing, cloud diversification, and hybrid AI-R&D in risk will likely amplify demand for its integrated workbench heritage, evolving its influence from standalone fintech to embedded enterprise tool.[2][6] As commodities hedging faces climate and geopolitical pressures, FIS Kiodex positions users for resilient earnings stabilization, tying back to its core mission of taming complex risk in web-accessible form.[1][2]
