25 Jun 2012 07:00
25 June 2012
Brady plc ("Brady")
New Contract
Brady, the leading supplier of trading and risk management solutions for metals, energy and soft commodities, announced today that it has secured a new contract with Codelco, the world's largest producer of copper and molybdenum. Codelco, Chile's state-controlled mining company has selected Brady's complete solution to manage its global metal trading position and risk management across its global activities via Brady's secure hosted environment.
After an extensive reviewing process of vendor alternatives, Brady was selected as the partner of choice for its comprehensive functional coverage, along with the speed of deployment and the in-depth domain knowledge of the Brady team in the commodities and mining sector. The Brady solution will enable Codelco to update its price risk management tools and consolidate its global metal hedging positions. In addition, Codelco will use Brady's exclusive Profit and Loss attribution functionality to analyse risk and report on the profitability across operations.
Gavin Lavelle, CEO of Brady plc, commented: "Brady is universally acclaimed as the leading provider of software to the global metals market and we are delighted to have been selected as the partner of choice by the world's largest copper producer to manage its trading and risk requirements. Brady's solutions offer streamlined processing of trades and centralized data, document and communication capture, enabling companies to maximise efficiency, save time and resources whilst simultaneously reducing errors and risk. Being selected in this case is testament to the reputation that we have gained serving these markets for over 25 years and we are absolutely delighted to welcome Codelco to Brady's customer base of more than 250 companies world-wide".
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 Rebecca Sanders-Hewett / David Ison | Telephone: +44 (0)20 7566 6720
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About Brady
Brady plc (BRY.L) is the largest European-headquartered provider of trading and risk management software to the global 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, soft commodities and agriculturals.
Brady has 25 years' expertise in the commodity markets with over 250 customers worldwide, who depend on Brady's software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world's largest financial institutions, trading companies, miners, refiners and producers, 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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