29th Sep 2014 07:54
LONDON (Alliance News) - Brady PLC Monday said its commodity trade risk-management software has been chosen by Russian nickel producer Norilsk Nickel to manage its trading and risk management activities for base, minor and precious metals, as well as concentrates.
In a statement, Brady, which provides trading and risk management software to the commodity and energy markets, said it will enable Norilsk Nickel to manage all of its contractual, financial, market and trading business requirements in a single platform.
According to its own website, Norilsk Nickel is the world?s largest producer of nickel and palladium, and one of the largest producers of platinum and copper.
"Investing in a new software platform is an important decision, which is also associated with a degree of risk. To meet the challenges we face in the complex and highly volatile markets in which we operate, we are confident that we have sufficiently mitigated that risk by selecting a solution that can support the full requirements of the metal processing value chain," Markus Meurer, head of MMC Norilsk Nickel's global sales, said in a statement.
"The Brady team affords the most thorough understanding of the metals markets in the CTRM space, which coupled with its unparalleled portfolio of customer references, provides us with the proven assurance of Brady's capability to meet our requirements and deliver," Meurer added.
Brady Chief Executive Gavin Lavelle said he is confident the partnership will enable Norilsk Nickel to "automate its business processes, achieve total transparency of its trading activities, ultimately resulting in the achievement of its goal to improve the efficiency of its business operations."
Brady shares were Monday untraded at 79.50 pence.
By Samuel Agini; [email protected]; @samuelagini
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