24 February 2010, London: Brady plc BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, has announced today that The Mitsubishi Corporation, Tokyo, signed a new deal in 2009 to extend the use of Brady's trading and risk technology to now include all of the corporation's global trading of both physical and derivative precious metals.
Mitsubishi Corporation is Japan's largest general trading company (sogo shosha) with over 200 bases of operations and 500 companies in approximately 80 countries worldwide. Part of Mitsubishi's stated approach to business is to constantly seek out cutting-edge technologies for its businesses. To this end Brady was chosen by Mitsubishi International Corporation in New York for its precious metals and aluminium trading in January 2007.
The new deal will provide Mitsubishi with a single integrated platform for both physical and derivatives trading and also give improved exchange connectivity and regulatory compliance for their global activities.
Gavin Lavelle, CEO of Brady, comments: "Mitsubishi is a great client to work with. They have been using our trading and risk technology in New York since '07 and have chosen us again for a global implementation. Its increasing use of our trading and risk technology results from our continuing investment in our product set and the specialist knowledge of our R&D teams."
Brady provides regulatory compliance (particularly VaR and audit capabilities), valuations and improved risk management tools including enhanced mark-to-market reports that present an enterprise-wide view of risk positions in real-time.
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Editorial contact for Brady
Alla Lapidus
Moonlight Media
Tel: +44 (0) 20 7250 4770
Email: alla@moonlightmedia.co.uk
About Mitsubishi Corporation
Mitsubishi, with over 500 group companies, employs a multinational workforce of approximately 48,000 people. Mitsubishi has long been engaged in business with customers around the world in virtually every industry, including energy, metals, machinery, chemicals, food and general merchandise. Through international trade, a historical mainstay of Mitsubishi's operations, they are able to steadily provide high value-added services by utilizing their frontline businesses to gather information while linking together functions such as logistics, financing, and marketing.
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 60 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