Success of Brady Trinity leads to new strategy

17 December 2008

Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, has announced that in light of the company’s rapid growth it is restructuring its development, release and implementation strategy for 2009. The main benefits for customers will be easier implementations and upgrades and an overall reduction in the cost of ownership. This will be achieved through a highly scalable approach to development combined with additional prioritisation criteria focused on the changing requirements of the metals markets.

The last eighteen months have seen significant progress at Brady, namely a continued growth with nine new clients, accelerated product development and additional headcount and offices. The rapid increase in customer numbers has led to a greater demand for special projects, in turn necessitating a global perspective in the prioritisation of product development, release management and support. All future releases of Brady Trinity will now be restricted to an annual version release with subsequent service packs to be released on alternate (odd) months, with a maximum of six per year. The new changes will be effective starting with the January implementation of the latest (2009) version of Brady Trinity; in future only the current and the immediately preceding version of Brady Trinity will be supported.

The changes were announced at the Brady Customer Advisory Group meetings in London and New York; clients will see early benefits from greatly improved scalability of development, implementation and support. Each Brady Trinity release information pack (TRIP) will undergo additional levels of auto and regression testing, benchmarking and performance evaluation. Users will also benefit from the consolidated approach to certification and testing for third-party software and applications. The 2009 release of Brady Trinity will be the first to benefit from these changes. It will include an interface to the new LME SMART (the System for Matching and Registering Trades from the London Metal Exchange), automated aggregations, splits, allocations and give up, give-in; a new version of Value At Risk (VAR); support for IAS39 and FAS 133 and its local equivalents.

Gavin Lavelle, CEO of Brady commented, “The last eighteen months have seen some of the most significant growth in the company’s history and this has required everyone in the business to re-evaluate the core structures and to look at how best to deliver a highly scalable business model in terms of development, support and client interaction. The new software development and management processes enable Brady to enhance customer satisfaction and allow greater scalability for the planned future growth.”

Brady clients include many of the world’s largest miners, refiners and producers as well as tier one banks and a large number London Metal Exchange (LME) category 1 and 2 clearing members.

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