Mitsubishi Corporation Signs With Brady for Global Precious Metals Trading
By Brady Plc, PRNETuesday, February 23, 2010
LONDON, February 24, 2010 - 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.
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
Editorial contact for Brady: Alla Lapidus, Moonlight Media, Tel: +44(0)20-7250-4770, Email: alla at moonlightmedia.co.uk
Tags: Brady PLC, February 24, London, United Kingdom