18 Dec 2014 07:00
18 Dec 2014
Brady plc ("Brady")
New Contracts
Brady, the leading global provider of commodity, energy and recycling software is pleased to announce that two new customers have selected Brady solutions to support their business operations across the metals and energy space.
Brookfield Renewable Ireland
Brookfield Renewable Ireland has selected Brady to supply its Irish business with an overall market settlement process system solution. Brookfield Renewable Ireland manages one of the largest renewable energy portfolios on the island of Ireland. Its business is comprised of 450 MW of operating wind capacity across 19 wind projects in eight counties across Ireland and Northern Ireland, as well as a development pipeline of 200 MW.
Brady Energy Settlement Manager will provide a solution to support the overall market settlement processes in the wholesale physical power market of Ireland. The highly automated solution ensures that there is little room for human error in importing participation information reports, invoices and other required data published by the Single Electricity Market Operator (SEMO) that facilitates the continuous operation and administration of the Single Electricity Market in the Republic of Ireland and Northern Ireland.
Gulf Aluminium Rolling Mill Co (GARMCO)
Brady has also been appointed to deliver its new Hedge Manager solution to Gulf Aluminium Rolling Mill Co. (GARMCO), located in Bahrain. The new software has been designed to meet the risk management objectives of metal fabricators, rolling mills, cable manufacturers and extruders. It is delivered via a dedicated Cloud environment, guaranteeing the highest level of auditability and security and can be deployed in less than two months.
The Hedge Manager solution provides an up-to-date picture of physical and hedge positions, including accurate mark-to-market, risk and margin figures to ensure that risk managers can implement the organisation's hedging policy and measure and control the risks they are hedging.
Gavin Lavelle, CEO of Brady plc, commented: "Brady is pleased to be able to provide market participants with a fast and reliable solution to proactively manage the demands for hedging commodity price risk. We are currently seeing pronounced interest in our cloud-based solutions across all asset classes. In particular for metal fabricators, delivering our solution for managing hedging and risk management in the cloud is ideal, combining speed of implementation, a high level of service and market-leading functionality".
Continuing, he said: "Brady has substantial in-depth expertise in implementing Settlement Market Rules, offering full traceability of calculations and auditability of all operations and I am confident that our modern and robust web framework will meet Brookfield's requirements for its current settlement objectives, as well as offer the scalability to meet its future expansion plans.
I am delighted to welcome both GARMCO and Brookfield to our customer network and look forward to being a strategic partner to both customers in helping to support their very diverse business requirements".
For further information please contact:
Brady plc Gavin Lavelle, Chief Executive Officer Martin Thorneycroft, Chief Financial Officer | Telephone: +44(0)1223 479479 |
Cenkos Securities plc Ivonne Cantu / Oliver Baxendale (Sales)
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Telephone: +44 (0)20 7397 8900 |
Redleaf Polhill Rebecca Sanders-Hewett / Charlie Geller / David Ison | Telephone: +44 (0)20 7382 4730
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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, to back office financials and treasury settlement for energy, refined, unrefined and scrap metals, soft commodities and agriculturals.
Brady has 30 years' expertise in the commodity markets with some 300 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, recycling companies, scrap processors, 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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