Union Pacific to use Kiodex for fuel risk management

Union Pacific needed an application that could help manage the complexity of creating efficient hedging strategies in a volatile energy market, and believed a Web-accessed tool was necessary since its front, middle and back offices are in different locations, said Union Pacific fuel director Charles Walters. Risk Workbench, a Web-based risk management system that integrates pricing tools, market data, risk reports and position keeping into a single application, matched Union Pacific’s requirements.

Walters was unavailable to comment on the pricing and timetable of implementation, nor what cost savings would be achieved by the next system.

Union Pacific is Kiodex’s third Fortune 500 client to have signed up to Risk Workbench since its launch about three months ago. The company secured similar deals with American Airlines and Eastman Chemical Company in December. A spokesman told RiskNews that several more of its beta participation programme members were set to become full customers.

US technology and services company Kiodex offers risk management services to help corporations achieve cost savings in hedging strategies, as well as managing FAS 133 compliance.

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