16th Jun 2010 07:00
For immediate release 16 June 2010
Brady plc
("Brady" or the "Company")
Koch Supply & Trading Company Ltd broadens use of Brady with global physical trading and LME SMART
Brady plc (BRY.L), the leading global supplier of trading, risk management and settlement solutions to the metals and commodities sectors, announced today that Koch Supply & Trading Company Ltd. ("Koch Supply & Trading") is now using Brady technology to support its physical trading operations.
Koch Supply & Trading, an indirect subsidiary of Koch Industries Inc. and part of the Koch Supply & Trading group of companies, trades in base and precious metals, oil, petrochemicals, gas and power, with locations in North America, Europe and Asia. For a number of years, Koch Supply & Trading companies have used Brady technology for derivatives trading and risk management on the metals trading desks in London, Singapore and Houston, among others.
Koch Supply & Trading has implemented Brady's physical commodities trading platform as part of a major programme to enhance the technology underpinning its metals trading operations. Over the coming months, Koch Supply & Trading will also upgrade to the current version of Brady's derivatives trading solution, becoming the latest of Brady's clients to use the recently released LME SMART interface (London Metal Exchange System for Matching and Registering Trades).
Rob Short, CIO of Koch Supply & Trading LP commented: "We have been working with Brady for a number of years now; the company's thorough understanding of our business and the global metals market continues to be a big advantage to our business. The rollout of the new physical trading function will further extend the capability of our technical infrastructure."
Brady's CEO, Gavin Lavelle, commented: "The Koch organization has developed core capabilities including: 'operations and trading excellence combined with innovation', so Koch Supply & Trading's decision to upgrade to our latest platform is all the more significant. The deal includes both the physical trading capability and our recently released LME SMART interface, which is already providing competitive and administrative advantages to our clients. We have been fortunate to count Koch Supply & Trading as a client of ours for some time and it is encouraging to see its increasing use of our trading and risk management technology".
For further information please contact:
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Brady plc Gavin Lavelle, Chief Executive Officer Tony Ratcliffe, Finance Director |
Telephone: +44(0)1223 479479 |
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Cenkos Securities plc Ivonne Cantu / Alex Aylen
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Telephone: +44 (0)20 7397 8900 |
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Buchanan Communications Tim Thompson / Nicola Cronk |
Telephone: +44 (0)20 7466 5000
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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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