Codelco selects Brady for metal trading and risk management

London - 25 June 2012

Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals, energy and soft commodities, announced today that it has secured a new contract with Codelco, the world’s largest producer of copper and molybdenum. Codelco, Chile’s state-controlled mining company, has selected Brady's complete solution to manage its global metal trading position and risk management across its global activities via Brady’s secure hosted environment.

After an extensive reviewing process of vendor alternatives, Brady was selected as the partner-of-choice for its comprehensive functional coverage, along with the speed of deployment and the in-depth domain knowledge of the Brady team in the commodities and mining sector. The Brady solution will enable Codelco to update its price risk management tools and consolidate its global metal hedging positions. In addition, Codelco will use Brady’s exclusive Profit and Loss attribution functionality to analyze risk and report on the profitability across operations.

Gavin Lavelle, CEO of Brady plc, commented: “Brady is universally acclaimed as the leading provider of software to the global metals market and we are delighted to have been selected as the partner-of-choice by the world’s largest copper producer to manage its trading and risk requirements. Brady’s solutions offer streamlined processing of trades and centralized data, document and communication capture, enabling companies to maximize efficiency, save time and resources whilst simultaneously reducing errors and risk. Being selected in this case is testament to the reputation that we have gained serving these markets for over 25 years and we are absolutely delighted to welcome Codelco to Brady’s customer base of more than 250 companies world-wide.”

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