24th October 2013, London: Brady plc (BRY.L), the leading global supplier of trading, risk management and settlement solutions to the agricultural, metals, recycling, energy and softs sectors, announced today that Swiss-based international marketer of agricultural products, MAG Commodities AG, has licensed Brady’s Trading & Risk Management solution to handle its global agricultural trading and risk requirements.
The Brady solution that was chosen will provide total transparency and accuracy of MAG Commodities’ trading, logisticsand risk management operations, from deal capture through to accounting. The solution enables individual physical trades to be viewed from any location, with associated detailed trading costs, including insurance, freight and warehousing, facilitating performance attribution analysis by the Commercial Teams.
Christian Jörg, CEO of MAG CommoditiesAG, highlighted the reasons behind his decision to opt for Brady: “The straight-through processing, enabling full traceability, status history, documentation, invoicing and approval workflows, fully integrated into the robust trading and risk management solution, made Brady the obvious partner for us”. Continuing he commented, “Having researched the market for physical trading solutions, we opted for Brady as it was the best platform to meet our needs and we were highly impressed at the understanding of our business needs by the Brady team. This partnership will be a key factor as our new business develops”.
Gavin Lavelle, CEO of Brady plc commented that, “We are delighted to welcome MAG Commoditiesto our rapidly growing customer base in the agricultural trading space. The agricultural trading space is highly competitive and MAG was keen to benefit from Brady’s ability to assist in its operational risk limitation and empower it to address the highly volatile and complex aspects of the commodities supply chain. We really look forward to working together with the team as their new business evolves”.
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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 25 years’ expertise in the commodity markets with over 300 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 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
About MAG Commodities AG
MAG Commodities is an international food supply company, founded in 2012 in Baar, Switzerland, with offices in Barcelona (Spain), Kyiv (Ukraine) and Singapore. Its focus is on supplying agricultural commodities directly sourced from growers from the Black Sea region to Europe, the Middle East and other grain-importing countries. It provides comprehensive services across the value chain including the origination and logistics necessary to ensure timely delivery to end customers.
The office in Baar is the company’s headquarters and concentrates on sales and marketing, global arbitrage, financing and the risk management for the Group. The Baar office further develops and implements the company’s growth platform.
The Barcelona office extends the marketing network of MAG Commodities and strengthens its ability to market grains directly to the food and feed industry in the Spanish peninsula.
The office in Kiev originates high-quality agricultural commodities and further complements the existing origination capabilities. It establishes sustainable partnerships with local producers.
Knowledge of the markets and logistics, flexibility, a strong capital base, well-trained employees, good connections and thousands of customers help to ensure food security for the growing population in a sustainable way. MAG Commodities works from farm to fork through a diverse set of activities that spans the value chain.
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