George Weston Foods Chooses SunGard's Kiodex For Its Commodity Hedging Program

George Weston Foods, one of Australia's largest food companies, has chosen SunGard's Kiodex to help manage its exposure to commodity price risk. George Weston Foods will use SunGard's Kiodex to help develop and implement hedging strategies aimed at reducing and managing its exposure to volatile prices in agricultural commodities. SunGard provides software and processing solutions for financial services, higher education and the public sector.

Kiodex will help George Weston Foods to actively manage its commodity risk by helping it to price, capture, and manage financial derivative hedges, according to the firm. Kiodex Risk Workbench is a Web-based commodities risk management solution that integrates trade capture, valuation models, risk measurement, financial reporting, and independent market data. Kiodex Global Market Data includes representative spot prices, forward curves, volatilities, volatility skews and correlations across the spectrum of commodity markets. George Weston Foods leveraged the Kiodex Software-as-a-Service (SaaS) platform for rapid implementation. "SunGard's Kiodex risk management solution with integrated market data appears well suited to help us manage our agricultural commodity exposure," says Hugh Robertson, strategic sourcing manager at George Weston Foods. "The combination of its commodity specific models, mark-to-market, P&L and cash flow-at-risk (CFaR) reports, and fast implementation, made Kiodex the right decision," he adds.