News – Brady Energy selected by RAO Nordic Oy
Brady Energy selected by RAO Nordic Oy to support its risk management, asset-backed trading and origination
5th December 2011, London: Brady plc (BRY.L), the leading global provider of trading, risk management and settlement solutions to the energy, metals and commodities sectors, announced today that RAO Nordic Oy, a major multi-commodity European trading house with a wide range of trading operations and diversified trading portfolio, has selected Brady Energy’s trading and risk management solution to support its risk management requirements.
RAO Nordic Oy, established in Helsinki in 2002, is a fully-owned subsidiary of the rapidly expanding Russian energy trading company, Inter RAO UES, which has activities in 14 countries throughout Europe and Asia. RAO Nordic Oy has been trading on Nord Pool since 2003 and is a member of Nasdaq OMX Commodities and Nord Pool Spot. Its main business operations include asset-backed physical and financial trading of electricity, proprietary trading, origination and asset management with particular focus on wind power and other renewable assets.
The company has opted to implement the latest generation of Brady’s specialist energy trading and risk management technology to support its energy trading business. The solution will be swiftly employed in Helsinki as a replacement for its current system.
Oleg Zakataev, Managing Director of RAO Nordic Oy, said: “Our vision to become a major multi-commodity European trading house, with a wide range of trading operations and diversified trading portfolio, means that it is imperative we have ample controls and a proven and reliable solution in place to support our growing trading operations and risk management processes. Brady’s experience and track record of providing world-class commodities trading and risk management solutions gave us confidence they were the obvious partner of choice for our trading operations. Moreover, following the proof of concept phase, Brady has proven that the Brady Energy ETRM is fully capable of supporting our requirement specifications for risk management, asset-backed trading and origination. Brady’s full support and ability to deliver a fully integrated solution within a very short timescale was of prime importance to us.”
Gavin Lavelle, CEO of Brady Plc, commented: “I am delighted that RAO Nordic has chosen Brady to replace its current ETRM system, to underpin its expanding trading operations and we welcome them to our growing community of energy trading customers. The rich functionality of the Brady solution will be implemented without the need for any major customization, enabling us to easily meet RAO Nordic’s timelines for having a fully-functioning solution which meets their requirements. This contract win is a clear endorsement of Brady as a leading technology supplier and evidence of our position as a major provider of specialist trading and risk management solutions to the world’s commodity markets.”
Editorial contact John Norris Moonlight Media
Tel: +44 (0) 20 7250 4770
Email: john@moonlightmedia.co.uk
About RAO Nordic Oy
RAO Nordic Oy was established in Helsinki in 2002 as a 100% subsidiary of the Russian company, Inter RAO UES, a fast growing international energy company which has activities in 14 countries in Europe and Asia. The Company is positioned under the main trading subdivision of INTER RAO UES Group, carrying out its activity in the Nordic region (Finland, Norway, Sweden, and Denmark), Baltic countries (Latvia, Lithuania, and Estonia), Eastern and Western Europe and some CIS countries. RAO Nordic Oy is a member of the Nasdaq OMX Commodities and Nord Pool Spot and is trading with bilateral counterparties and on exchanges. The Company has been trading in the Nord Pool financial markets since 2003.
During 2010 RAO Nordic Oy changed their strategy from being a holding company of European assets to more trading & origination business, resulting in more focus on proprietary trading and development of standard and non-standard products for large customers. The aim is to establish RAO Nordic Oy as a member of major energy exchanges and, in addition, establish trading relationships with counterparties all over Europe. In short, this means that RAO Nordic is no longer only a Russian power exporter, but an energy trading company. Owing to this expansion strategy, RAO Nordic Oy moved to new offices at the end of 2010.
For further information visit: http://www.raonordic.fi
About Brady plc
Brady plc (BRY.L) is a leading global provider of trading and risk management software to the worldwide commodity and energy markets. Brady combines fully integrated and complete solutions supporting the entire commodity trading operation, from capture of financial and physical trades, through risk management, handling of physical operations, back office financials and treasury settlement, for energy, refined and unrefined metals, softs and agriculturals.
Brady has 25 years’ expertise in the commodity markets with over 150 customers worldwide, including some of the largest financial institutions, producers and mining corporations which depend on Brady’s software solutions to deliver vital business transactions across their global operations. Brady clients include many of the world’s largest miners, refiners and producers, trading companies, 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: http://www.bradyplc.com
