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.