Brady plc RWE Renews Agreement with Brady PLC

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: [phone] 
 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

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November 10, 2017 02:00 ET (07:00 GMT)