Brady, the leading supplier of trading and risk management solutions for commodities, recycling and energy, is pleased to provide an update on new contracts.
Over the last six weeks the Company has signed four new significant licence agreements. These contracts further strengthen the Group's backlog for 2014 and create a positive outlook for the year.
Two of the contracts were signed by global cross-asset trading organisations. The first organisation is the recently established physical trading arm of a Brazilian bank. It has operations in the US and the UK that licensed Brady to handle the management of its commodity trading operations and warehousing. The second one is a US-headquartered multi-asset trading company based in Stamford, CT, that currently relies on Brady's solutions for managing its raw materials trading operations and has now additionally selected Brady to handle its refined metal trading and risk operations.
The other two significant deals were secured in the recycling space with new customers to Brady, who will be deploying Brady's Commodity Recycling Enterprise solution across several locations in the US. The solution will manage their end-to-end metal recycling processes, addressing their unique financial, commercial and operational requirements.
Gavin Lavelle, CEO of Brady, commented: "I am delighted to report the high level of year end deal closures, which puts us in a great position for the start of the New Financial Year. It is also confirmation of the economic recovery in the Americas and underpins our decision to continue to build on our US resources to support and service this growing customer-base". Continuing he said: "It is testimony to Brady's unparalleled competence and global presence in the commodity trading space and the domain experience and the credibility of our staff, that we are able to secure customer projects of this scope and diversity".