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BGC selects Brady system for London commodities desk

20 May 2008  |  2271 views  |  0 Source: Brady

Brady (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, has today confirmed that BGC International (BGC), a subsidiary of BGC Partners, one of the world's leading inter-dealer brokers, has selected Brady's market leading trading and risk management solution for commodity options pricing and risk management on its commodities desk in London.

BGC, a London Metal Exchange (LME) Category II member, has confirmed the selection of Brady's option pricing module which will offer its clients the ability to enter into transactions which are guaranteed by the London Clearing House (LCH). Specifically designed for professional derivatives traders, Brady will provide BGC with the ability to price on a real-time basis all exchange-traded derivatives including LME TAPOs (Traded Average Price Options) accurately and consistently with the market community.

Steve Goodger, Head of BGC's commodities desk in London, said, "We were very familiar with Brady, which is seen very much as an industry standard in the commodity options market-making community, so the selection process was easy and we knew that it could fulfil our requirements."

Gavin Lavelle, CEO at Brady, comments: "It is great to have BGC as a client; they very quickly recognised the unique benefits of Brady and saw the value it will bring to their business. Much of the success of our solutions is predicated on our deep knowledge and understanding of commodity markets and effective communication with clients. Understanding both their current and future needs enables Brady to provide our clients with a quantifiable, competitive edge."

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