22 June 2009, London: Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, announced today that Toyota Tsusho Metals Limited (TTM), wholly owned by Toyota Tsusho Corporation (TTC) of Nagoya, Japan, has today gone live with its new trading and risk management system – Brady.
Tsusho means trading in Japanese and TTM is the specialised, London based global futures and options metals trading arm of Toyota Motor Group which is also responsible for the company’s global hedging requirements. The company is a (category 2) Associate Clearing member of the London Metal Exchange (LME) and a significant player in the global metals market. TTM’s involvement in metals includes trading ferrous and non-ferrous metals as well as recovered material, including precious metals from “End of Life Vehicles” or ELVs, an area set to be of increasing importance as governments seek to increase levels of automotive recycling.
Lester Doman, Head of Risk and Compliance at Toyota Tsusho Metals Limited, says: “We chose Brady for the company’s expertise in risk management and trading of metals as well as for its innovative product(s). I am looking forward to leveraging the benefits of the comprehensive risk management facilities combined with the enhanced communication flow between the trading, management and risk functions.”
TTM’s London operation provides the company’s global hedging function; the implementation of Brady will give the trading team the latest trading and risk management capabilities including Enhanced Scenario Generation, Profit & Loss Attribution, Mark-to-Market valuation, Historical VaR, Back Testing and Advanced Charting.
Gavin Lavelle, CEO of Brady, said:”TTM’s use of Brady for trading and high level risk management is an important opportunity for us as they are a major automotive producer with requirements for strategic long-term hedging. TTM is a complex business and they have chosen Brady to provide the solutions. Their choice is a strong endorsement of our technical abilities and our market knowledge.”
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Editorial contact for Brady
John Norris
Moonlight Media
Tel: +44 (0) 20 7250 4770
Email: john@moonlightmedia.co.uk
Notes to Editors
Toyota Tsusho Metals Ltd
Specialise in futures and options trading in the non-ferrous metals market on the London Metal Exchange. TTM is an Associate Broker Clearing Member (Category 2) of the LME. TTM’s involvement on the Exchange has provided a tailored service catering for the ever-increasing needs of international clientele.
TTM is 100% owned subsidiary of the Toyota Tsusho Corporation Group located in Nagoya, Japan. For further information visit: www.ttmetals.com
About Brady plc
Brady plc (BRY.L) is a leading global provider of trading and risk management software to the global commodity markets. On a single platform 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 and unrefined metals. Brady has more than 20 years of expertise in the commodity markets with 56 customers worldwide, including some of the largest financial institutions 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, 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