17 Jan 2011 07:00
For immediate release 17 January 2011
Brady Plc
(the "Group" or the "Company")
New Contract
Brady plc (BRY.L), the leading global supplier of trading, risk management and settlement solutions to the metals, energy and softs sectors, announced today that the newly established M3 Capital AS, based in Stavanger, Norway, will implement Brady's Elviz solution for their core energy trading and portfolio management activities. M3 Capital AS specialises in trading energy products in the Nordic Power Market.
Bengt Staveland, CEO of M3 Capital Management AS, commented, "We have selected Brady's solution to support our trading and portfolio management because of our previous knowledge of Elviz. We have extensive experience in the energy market and are confident that the Elviz solution and the Brady energy team are clearly the best in their field. We have developed trading strategies which have been extensively back-tested and our aim is to secure a 20% annual return for our investors. To achieve this Brady's expertise will be integral to our performance."
Gavin Lavelle, CEO of Brady, commented: "We are very excited to have signed this deal with Bengt and M3 Capital AS. This is the first deal we have completed since the acquisition of Viz Risk Management in December 2010 and we look forward to working with M3 and our energy team to ensure our continued growth in this market."
For further information please contact:-
Brady plc Gavin Lavelle, Chief Executive Tony Ratcliffe, Finance Director
| Tel: 01223 479479 |
Cenkos Securities Ivonne Cantu / Camilla Hume
| Tel: 020 7397 8900
|
Buchanan Communications Tim Thompson / James Strong
| Tel: 020 7466 5000 |
Brady plc (BRY.L) is a leading global provider of trading and risk management software to the worldwide commodity and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined metals, softs and agriculturals.
Brady has 25 years' expertise in the commodity markets with over 150 customers worldwide, including some of the largest financial institutions, producers and mining corporations which depend on Brady's software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world's largest miners, refiners and producers, trading companies, tier one banks and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers. For further information visit: www.bradyplc.com
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