21 Sep 2011 07:00
21 September 2011
Brady plc ("Brady")
New Contract
Brady (BRY.L), the leading global supplier of trading, risk management and settlement solutions to the metals, energy and softs sectors, announced today that the Australian Bullion Exchange (ABX), based in Brisbane, has extended its use of Brady solutions. It has added Brady's Order Management Solution to its functionality for its new physical bullion exchange, due to be launched on 4 October.
The new Order Management Solution allows ABX's users to input, capture, query, modify and cancel orders electronically and will display order workflow and trade history to participants.
Thomas Coughlin, CEO of ABX, commented, "The ABX is an exchange for physical bullion, it connects buyers and sellers of precious metals. Given the strength of the physical bullion investment market, a central exchange is critical to provide a fair and efficient marketplace for all participants. Australia is the second largest gold producer in the world; we need a globally recognised exchange to accompany this position. The ABX strips away all financial engineering to provide a marketplace which is simple, secure and highly accessible and, at the same time, improves competition and market efficiency." He continued, "We have made a significant investment in Brady's technology to provide our core infrastructure systems, ensuring a robust and reliable investment platform."
Gavin Lavelle, CEO of Brady, said: "ABX's extension of their use of our solutions to include our new order management system is a significant indication of our continuing growth and expansion within the gold market. This particular combination of solutions for an exchange is a major deal for Brady and we are confident it will answer ABX's requirements for more automation of gold trading. It is an exciting time for Brady and ABX and will enable ABX's clients to quickly and efficiently access the bullion markets."
For further information please contact:
Brady plc Gavin Lavelle, Chief Executive Officer Tony Ratcliffe, Finance Director | Telephone: +44(0)1223 479479 |
Cenkos Securities plc Ivonne Cantu / Camilla Hume
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Telephone: +44 (0)20 7397 8900 |
Redleaf Polhill Samantha Robbins / David Ison | Telephone: +44 (0)20 7566 6720
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About Brady
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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