26 Sep 2013 07:00
26 September 2013
Brady plc ("Brady")
New Contract
Brady, the leading supplier of trading and risk management solutions for metals, recycling, energy and soft commodities, is pleased to announce that Standard Chartered Bank has selected Brady as its partner of choice to manage its trading and risk management requirements for all of its London Metal Exchange ("LME") traded base metals, covering front and middle office operations for both its derivatives and physical trading activities.
Standard Chartered Bank is a leading international banking group that has been operating for over 150 years in some of the world's most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East. With 1,700 branches, offices in 68 markets and more than 89,000 employees, it focusses on private, wholesale and Islamic banking and is an Associate Broker Clearing Member of the LME. Having recently strengthened its LME desk, it has now chosen to invest further in its metal trading activities by selecting Brady's trading and risk management solution to manage and consistently measure and monitor its financial risk exposure.
Standard Chartered required a state-of-the-art solution to seamlessly manage all aspects of its LME physical and derivatives trading while supporting extensive regulatory compliance requirements. The company selected Brady because it is the only end-to-end solution providing accurate and detailed functionality across their set of requirements, which included, matching, clearing, client statements, margining, warrants processing and inventory management.
Gavin Lavelle, CEO of Brady, said: "Another tier one bank joins Brady's customer base and we are delighted to have been selected by Standard Chartered to manage its LME trading requirements. Brady has a strong track record in solving banks' challenges in the area of metals trading and risk management, yet each bank has its own set of unique requirements. What sets Brady apart in the metals business is that our solutions are built from the ground up; to date more than 500 man-years have been invested in developing our solutions and we continue to reinvest over 20% of our annual revenues into research and development, to ensure we meet the constantly changing business requirements in this market and help customers improve efficiency in their own very individual businesses".
For further information please contact:
Brady plc Gavin Lavelle, Chief Executive Officer Tony Ratcliffe, Finance Director | Telephone: +44(0)1223 479479 |
Cenkos Securities plc Ivonne Cantu / Camilla Hume Alex Aylen (sales)
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Telephone: +44 (0)20 7397 8900 |
Redleaf Polhill Rebecca Sanders-Hewett / David Ison / Charlie Geller | 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 and unrefined metals, soft commodities and agriculturals.
Brady has 25 years' expertise in the commodity markets with over 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, 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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