8th Jul 2010 07:00
For immediate release 8 July 2010
Brady plc
("Brady")
Contract Win
Brady plc (BRY.L), the leading global supplier of trading, risk management and settlement solutions for commodities, is pleased to announce that Xstrata Copper has chosen to implement Brady's leading risk management technology at an enterprise level across Xstrata Copper's operations and projects.
Xstrata Copper operates mines, concentrators, smelters and refineries at various locations in Canada, Argentina, Peru, Chile and Australia. Copper mining also produces valuable by-products, primarily gold and silver.
Greg Bews, Project Manager, Xstrata commodities, commenting on the new contract with Brady, said "For a number of years our business groups around the world have been using Brady for trading, risk management and hedging. We identified a strategic requirement to initiate an enterprise level of risk management and for a number of reasons we chose Brady. They exhibit a clear depth of knowledge of the complexities of commodity markets and, particularly, metals trading. We are confident that we will quickly see improved speed and efficiencies in our global risk management that will achieve long-term benefits for the group".
Gavin Lavelle, CEO of Brady Plc, said "Xstrata Copper is a massive global miner and we are proud to have them as clients for our trading and risk technology. However, this new deal has now elevated the relationship. Brady is now the critical technology at the core of Xstrata Copper's global risk management infrastructure and it is both a significant achievement and recognition of our industry-leading technology".
The enterprise use of Brady for risk management and hedging will include a fully integrated supply chain and risk management solution. The comprehensive range of features is capable of handling all stages of a transaction from front to back office and across derivatives, physicals including treasury, and regulatory requirements.
For further information please contact:
Brady plc Gavin Lavelle, Chief Executive Officer Tony Ratcliffe, Finance Director |
Telephone: +44(0)1223 479479 |
Cenkos Securities Limited Camilla Hume / Alex Aylen
|
Telephone: +44 (0)20 7397 8900 |
Buchanan Communications Tim Thompson / Nicola Cronk / Chris McMahon |
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
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