Brady plc (BRY.L), the leading global supplier of trading, risk management and settlement solutions to the metals, energy and soft commodity sectors, announced today that the new Australian Bullion Exchange (ABX), based in Brisbane, Australia, has opted for a Brady solution to enable them to bring bullion trading to the private investor.
ABX and Brady have agreed to a long term partnership where Brady will become the core system for the exchange's infrastructure.
Thomas Coughlin, CEO of ABX, commented: "We selected Brady for their extensive experience and solid reputation in the physical precious metal space. Their years of market experience and referenceable customers made Brady the obvious partner for this long-term strategic initiative."
ABX introduces a centralised bullion exchange into the Australian investment industry, enabling market participants to trade and invest in a transparent, consistent, reliable and cost effective market place.
The Brady solution will be implemented in multiple phases. Initially the deployment of the solution will focus on precious metals trading, foreign exchange, MTM, client reporting and inventory management.
Gavin Lavelle, CEO of Brady, said: "I am delighted to welcome ABX as our latest customer. We very much look forward to working with ABX towards delivering immediate benefits from the power of the out-of-the-box solution and to a long and successful partnership as the exchange expands its use of our tools." He added: "Brady have a strong customer base in the field of precious metals, ABX's project is an exciting implementation for us, demonstrating the flexibility of our solutions and the diversity in the customers we serve."