Brady plc RWE Renews Agreement with Brady PLC
10 November 2017 - 6:00PM
RNS Non-Regulatory
TIDMBRY
Brady plc
10 November 2017
10 November 2017
Brady PLC
("Brady", the "Company" or the "Group")
RWE RENEWS ITS AGREEMENT WITH BRADY PLC USE BRADY CREDIT
RISK
Brady continues its transition to a recurring revenue model
London, 10 November 2017: Brady plc (BRY.L), a leading global
provider of trading, risk management and settlement solutions to
the energy, commodities and recycling sectors, announced today that
RWE Supply and Trading (RWEST), has renewed its license to use
Brady Credit Risk software on an annual recurring fee arrangement
for a further five years.
RWEST is one of the leading energy trading companies in Europe,
and has been an extensive user of the Brady Credit Risk system
since it was first implemented in 2005.
RWEST uses the software to manage multiple corporate
counterparties with multiple different margining agreements that
result in a daily exchange of collateral worth hundreds of millions
of dollars. The ratings derived using the scoring module help RWEST
to set credit limits for the counterparties and helps it to
implement its limit policies with trading desks.
Ian Jenks, chairman of Brady, commented: "We are delighted to
renew our agreement with RWEST. Moving from a one-off licence model
to charging on an annual recurring fee basis allows us to build a
more predictable business."
For further information please contact:
Brady plc
Ian Jenks, Executive Chairman Telephone: +44
Martin Thorneycroft, Chief (0)1223 479479
Financial Officer
Cenkos Securities Telephone: +44
Camilla Hume (0) 20 7397 8900
Mark Connelly
Redleaf Communications Telephone: +44 (0)20 7382
Charlie Geller 4730
Ian Silvera
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, unrefined and scrap
metals, soft commodities and agriculturals.
Brady has 30 years' expertise in the commodity markets with some
400 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, recycling companies, 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
Brady plc: Twitter/Facebook/LinkedIn
Brady has 30 years' expertise in the commodity markets with over
400 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, scrap
processors, recyclers and producers, 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:
This information is provided by RNS
The company news service from the London Stock Exchange
END
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