Prysmian Metals is the centralised risk management company that manages risk on behalf of all Prysmianâs European affiliates, and a Category 5 London Metal Exchange (LME) member. Bradyâs solution will be used to manage Prysmianâs LME and other hedging requirements for copper, aluminium and lead. Bradyâs specialist software had to undergo a rigorous assessment process and evaluation against other potential suppliers prior to the deal being confirmed.
âA key requirement of Prysmian was to enhance our risk management operations and automate many of the processes to enable us to manage our risk more effectively and comply with new regulations,â said Bernhard Uldrian, Head of Strategic Metals. âWe expect that Bradyâs robust risk engine and Bradyâs expertise and experience in providing specialised tools for trading and risk management of base metals will provide us with a solid foundation for the continuing development and growth of our business.â
Gavin Lavelle, CEO of Brady, comments: âWe are delighted to have been chosen once again as the provider of risk management software. As one of the worldâs largest cable manufacturers Prysmian needs to have the best tools available in order to manage its risk. We are very much looking forward to working with them and being a part of their development.â