MEDIA RELEASE PR36183
Standard Bank Metals Trading and Risk Management Goes Live With Brady
LONDON, Sept. 17 /PRNewswire-AsiaNet/ --
Brady plc (AIM: BRY), the leading supplier of trading, risk management
and settlement solutions to the metals and commodities sectors, has announced
today that Standard Bank Plc are the first to use Brady's new interface to
LME SMART (the London Metal Exchange System for Matching and Registering
Trades). Using the Brady interface, LME member firms are now able to connect
directly to the LME's matching system, which will forward trades to the
London Clearing House (LCH) for clearing. Standard Bank went live with
Trinity v600 a year ago for one of its core businesses, Base Metals, having
used different components of Brady technology for a number of years for the
risk management of its precious and base metal businesses.
Standard Bank was quick to see the benefits of the SMART
interface and was determined to be one of the first LME member firms to have
a production-ready system in place to take advantage of the new levels of
automation. Standard Bank and Brady's development and installation teams
worked very closely together to produce a solution that meets all the LME's
requirements.
Brady's CEO, Gavin Lavelle, commented: "The increased
automation of the commodities market is leading to greater speed of
execution, lower cost of trading and increased compliance and audit
functions. Standard Bank has an impressive 147-year history and for much of
that time it has been very closely involved in the production and trading of
metals. We have been working with the bank for a number of years, and it is a
privilege to have Standard Bank as a client."
Brady is being used by Standard Bank globally for trading and
risk management on the metals desks in London, New York, Tokyo, Shanghai and
Hong Kong, among others.
Editorial contact:
Alla Lapidus
Moonlight Media
Tel: +44(0)20-7250-4770
Email: alla@moonlightmedia.co.uk
SOURCE: Brady PLC
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