10 Nov 2017 07:00
10 November 2017
Brady PLC
("Brady", the "Company" or the "Group")
RWE RENEWS ITS AGREEMENT WITH BRADY PLC USE BRADY CREDIT RISK
Brady continues its transition to a recurring revenue model
London, 10 November 2017: Brady plc (BRY.L), a leading global provider of trading, risk management and settlement solutions to the energy, commodities and recycling sectors, announced today that RWE Supply and Trading (RWEST), has renewed its license to use Brady Credit Risk software on an annual recurring fee arrangement for a further five years.
RWEST is one of the leading energy trading companies in Europe, and has been an extensive user of the Brady Credit Risk system since it was first implemented in 2005.
RWEST uses the software to manage multiple corporate counterparties with multiple different margining agreements that result in a daily exchange of collateral worth hundreds of millions of dollars. The ratings derived using the scoring module help RWEST to set credit limits for the counterparties and helps it to implement its limit policies with trading desks.
Ian Jenks, chairman of Brady, commented: "We are delighted to renew our agreement with RWEST. Moving from a one-off licence model to charging on an annual recurring fee basis allows us to build a more predictable business."
For further information please contact:
Brady plc Ian Jenks, Executive Chairman Martin Thorneycroft, Chief Financial Officer | Telephone: +44 (0)1223 479479 |
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Cenkos Securities Camilla HumeMark Connelly | Telephone: +44 (0) 20 7397 8900
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Redleaf Communications Charlie Geller Ian Silvera | 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, 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 400 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
Brady plc: Twitter/Facebook/LinkedIn
Brady has 30 years' expertise in the commodity markets with over 400 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, scrap processors, recyclers 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: