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New Contract Win

18 Oct 2010 07:00

RNS Number : 5071U
Brady plc
18 October 2010
 



For immediate release 18 October 2010

Brady plc

("Brady")

New Contract Win

Brady, the leading global supplier of trading, risk management and settlement solutions to the metals and commodities sectors, is pleased to announce BTI Bulk Trading International SA (BTI), a leading independent trading company with activities across the globe, dealing in solid fuels for power generators, cement and steel factories as well base metals worldwide, headquartered in Lugano, Switzerland, has selected Brady's trading and risk management solution for its trading activities.

 

Brady's fully integrated software solution will provide BTI with a complete set of commodity trading and risk management functions: from physical trading through commodity and forex hedging; valuation of the positions and P&L, with detailed cost analysis; logistics, including complete traceability from stock warehouse to final delivery; trade finance, including LCs, bank interests, pre-financing, credit insurance and credit limits; to customer invoicing and final accounting of overall trading activity.

 

BTI has current projects for investing in mining activities in Indonesia and Colombia. Integrated logistics management (loading ports and fast loading facilities, stock management and quality control facilities) has played a significant role in the company's success; Brady's integrated product set will now provide important additional benefits for the trading and risk management aspects of the operation. BTI has enjoyed significant expansion and close collaboration with the principal producers in Indonesia, India, China, Ukraine, Russia, Colombia and South Africa.

Michele Ortelli, Managing Director of BTI said: "We needed to replace the solution we currently use for coal trading, in addition to supporting our newly-created trading activity in base metals. After careful consideration, extensive research and evaluation we chose Brady. They clearly have a deep understanding of our business needs and proved totally professional in delivering the integrated product set we wanted. Brady is definitely considered to be the industry standard amongst the commodity trading community. We are therefore confident they will not only meet but exceed our expectations within the single software solution."

Gavin Lavelle, CEO at Brady, commented: "We are delighted to have BTI as a client; they quickly recognised the unique benefits of Brady and appreciated the value our solution would bring to their business. The success of our solutions is underpinned by our in-depth understanding of BTI and its requirements for the right solution to fully support their trading team, not only for coal but also in their newly set-up base metals division."

 

 

For further information please contact:

 

Brady plc

Gavin Lavelle, Chief Executive Officer

Tony Ratcliffe, Finance Director

Telephone: +44(0)1223 479479

 

Cenkos Securities Limited

Ivonne Cantu / Alex Aylen

 

 

Telephone: +44 (0)20 7397 8900

Buchanan Communications

Tim Thompson / James Strong

Telephone: +44 (0)20 7466 5000

 

 

 

 

About Brady

Brady plc (BRY.L) is a leading global provider of trading and risk management software to the global commodity 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 refined, unrefined metals, softs and energy. Brady has more than 20 years of expertise in the commodity markets with over 100 customers worldwide, including some of the largest financial institutions, producers and mining corporations that 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. For further information visit: www.bradyplc.com

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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