Brady Trade Finance Solution selected by Man Brothers Group
16 January 2012, London: Brady plc (BRY.L), the leading global supplier of trading, risk management and settlement solutions to the metals, energy and softs sectors, announced today that the Man Brothers Group, based in Geneva, has selected Brady to handle their trade finance operations. The Brady solution which was chosen offers the ability to integrate the bank’s financial instruments, reduce operational risk, improve transparency and support decision making and governance, which are essential functionalities in today’s climate.
Haçade BENSALEM, CEO of Man Brothers Group indicated the reasons behind his decision to opt for Brady: “The solution provided by Brady will enable us to follow in full detail all trade operations initiated by our clients and handle all required financial transactions and documentary credit operations in a fully integrated way. The advantage of full traceability, status history, documentation and approval workflows, fully integrated into the robust trading and risk management solution, made Brady the obvious partner for us.”
Brady’s trading and risk management solution has been chosen by Man Brothers Financial Institution, a rapidly growing bank, established in 2008, to handle its Trade Finance operations. The project will greatly improve efficiencies and ensure that the bank complies with heightened regulations determined by the Central Bank of New Zealand, whilst simultaneously empowering Man Brothers Group with the opportunity to expand its growing activities efficiently by providing adequate systems to handle the high volumes of trades accurately.
Gavin Lavelle, CEO of Brady plc commented, “The interest from banks shown in the recently launched Brady Collateral Management solution has been overwhelming, enabling banks to follow every relevant detail of the trading operation which may affect the collateral and underlying risk for the bank, coupled with the ability to value the collateral on a real time basis.” Continuing, he stated, “Since the collapse of Lehman Brothers and the following financial crisis, in which we still find ourselves today, Collateral Management has received much attention from regulators and banks. We are delighted we are able to help Man Brothers Group with a commodity trade finance solution which meets the individual requirements of both.”
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Editorial contact for Brady
John Norris
Moonlight Media
Tel: +44 (0) 20 7250 4770
Email: john@moonlightmedia.co.uk
Notes to Editors
About MBF:
Man Brothers Group is a company created in 1992, has a license “Finance” to exercise its activity of financial asset and wealth management subject to the LBA.
Man Brothers Group is also involved in the activities of buying and selling commodities and Trade Finance.
For more information please visit: www.man-brothers.com
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: www.bradyplc.com
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