London May, 23rd, 2017– Brady plc (BRY.L), a leading global provider of trading, risk management and settlement solutions to the energy, commodities and recycling sectors, announced today that CCBI Metdist Global Commodities (UK) Ltd (“CCBI Metdist”) has selected Brady’s trading and risk solution for the management of its hedging and derivative trade activities, including physical contract positions and valuations for its precious and base metals business.
CCBI Metdist is engaged in the trading of non-ferrous metals futures on the London Metal Exchange (LME). It trades on the ring, over the telephone, and on LME Select, the LME’s screen-based trading platform. The company was formerly known as Metdist Trading Limited and changed its name to CCBI Metdist Global Commodities (UK) Limited in April 2016 following the 75% acquisition by CCBI Securities Limited, a subsidiary of China Construction Bank.
CCBI Metdist has recognized that as a core part of its growth strategy, it requires a robust and scalable back office system which remains up-to-date with the latest regulatory and operational developments. It will use Brady’s Trinity solution to manage its LME future trades, track and provide a consolidated view of exposure and positions.
Nigel Dentoom, CEO of CCBI Metdist Global Commodities (UK) Ltd commented: “We are very pleased to partner with Brady during this exciting period of development of CCBI Metdist. As we expand our services and product offering, we recognize the importance of a comprehensive and scalable ISV solution. We believe that Brady’s offering along with their product knowledge and expertise makes them the ideal partner for our requirements”.
Elizabeth Sipiere, COO of Brady plc commented “working with CCBI Metdist over the last few months has enabled us to really understand how our software can contribute to their growth and further automation. The merger of CCBI and Metdist is part of the changing global shape of global metals trading and working with their team enhances Brady’s alignment with this vibrant market.”
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About Brady plc
Brady plc (BRY.L) is the largest European-headquartered provider of trading and risk management software to the global commodity, recycling and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trading, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined metals, scrap and secondary metals, soft commodities and agricultural products.
Brady has 30 years’ expertise in the commodity markets with over 400 customers worldwide, who depend on Brady’s software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world’s largest financial institutions, trading companies, miners, refiners, scrap processors, recyclers and producers, tier one banks and a large number of London Metal Exchange (LME) Category 1 and 2 clearing members and many leading European energy generators, traders and consumers.
For further information visit: www.bradyplc.com