RWE RENEWS ITS AGREEMENT WITH BRADY PLC USE BRADY CREDIT RISK
Brady continues its transition to a recurring revenue model
London, 10 November 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 RWE Supply and Trading (RWEST), has renewed its license to use Brady Credit Risk software on an annual recurring fee arrangement for a further five years.
RWEST is one of the leading energy trading companies in Europe, and has been an extensive user of the Brady Credit Risk system since it was first implemented in 2005.
RWEST uses the software to manage multiple corporate counterparties with multiple different margining agreements that result in a daily exchange of collateral worth hundreds of millions of dollars. The ratings derived using the scoring module help RWEST to set credit limits for the counterparties and helps it to implement its limit policies with trading desks.
Ian Jenks, chairman of Brady, commented: “We are delighted to renew our agreement with RWEST. Moving from a one-off licence model to charging on an annual recurring fee basis allows us to build a more predictable business.”