th January 2016, London: Brady plc (BRY.L), the leading supplier of trading and risk management solutions for soft commodities, metals, recycling, and energy, announced today that Faircot SA, headquartered in Nyon, Switzerland, has selected Brady to manage the entirety of its physical trading and risk requirements for its cotton trading business, complete with fully integrated accounting functionality.
Faircot is a privately owned Swiss company recently founded by some of the most experienced veterans of the cotton trading industry, having previously worked for renowned companies in the sector. The company will initially focus on sourcing cotton originating from Central Asia, Africa, Brazil and India, with active plans to expand into additional markets.
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 cotton trading environment. The Brady solution will enable Faircot to manage its entire end-to-end physical and futures trading and the associated logistics, operational, and financial requirements, whilst providing the necessary risk management tools. In addition, Faircot will use Brady’s integrated accounting solution for both analytical and reporting purposes, effectively supporting its complete front to back office activities.
David Cavalleri, Co-Founder and Managing Director at Faircot said: “Having surveyed the market and the available solutions, coupled with our experience of using other cotton trading platforms in previous companies, we concluded that Brady offered unrivalled and outstanding functionality to address our requirements, and not available on any other platform. Our decision was also based on the versatility of its solution for cotton of all origins, which is of paramount importance to successfully managing our existing business as well as ensuring scalability for our future requirements. With the objective of growing our business in the future, the need to ensure effective controls and management of our operations has become a key driver”. Continuing he said: “Of paramount importance to us was the ability to facilitate the process involved in enabling our business to make informed and proactive decisions, streamline day-to-day operations and protect profits whilst at the same time providing a scalable platform as our business grows. Implementation of the Brady solution extends our visibility into the full supply chain and enables us to make intelligent sourcing decisions to offer better value to our suppliers and customers”.
Gavin Lavelle, CEO of Brady plc, commented: ”I am delighted that Faircot has selected Brady to manage its trading and risk requirements. Our significant investments in ensuring that Brady CTRM for Cotton offers market leading functionality to address the requirements of the global cotton market is endorsed by adding another new customer to our growing soft commodities and agriculturals customer base. Brady’s trading solution offers Faircot a fully integrated solution that follows the lifecycle of a deal closely, starting with the contract, followed by the execution phase and the management of all logistics aspects, including financing and risk management activities and finally linking the data to a fully integrated multi-currency accountancy application. This functionality ensures immediate access to key financial information, in order to optimise operations and enhance overall business controls, and enable growth. It gives me great pleasure to welcome Faircot to Brady’s customer base of some 400 companies world-wide”.
Editorial contact for Brady
Rebecca Sanders Hewett/David Ison/Charlie Geller
Tel: +44 (0) 20 566 6720
Email: rsh@RedleafPolhill.com or di@RedleafPolhill.com or cg@RedleafPolhill.com
Notes to Editors
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 some 400 customers worldwide, who depend on Brady’s software solutions to deliver vital business transactions across their global operations. Brady clients include trading companies, miners, refiners and producers, many of the world’s largest financial institutions, tier one banks and a large number of London Metal Exchange (LME) members and many leading European energy generators, traders and consumers.
For further information visit: www.bradyplc.com
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About Faircot SA
FAIRCOT SA is a cotton trading company created in August 2015. Between its Executive Management and its Board, Faircot SA has more than 130 years of cumulative experience in international cotton trading and merchandising. Thanks to the management’s life-long experience in the cotton industry, strong reputational standing and vast international contacts, the company benefits from a robust network of suppliers, customers, agents and logistical companies from inception. Multiple market participants have indicated their strong interest to work with and support FAIRCOT SA. This should allow the company to be rapidly operative in following markets:
Origination: West Africa (Mali, Burkina Faso, Ivory Coast, Benin, Cameroon), Zambia, Zimbabwe, Uganda, Tanzania, India, Turkmenistan, Uzbekistan, Kazakhstan, Brazil, Greece and Spain.
Marketing: China, India, Bangladesh, Pakistan, Indonesia, Vietnam, Taiwan, Thailand, South Korea, Turkey, South Africa, Lesotho, Mauritius, Russia, Europe.
For further information visit: www.faircot.ch