Brady announced on Wednesday that KGHM Polska Miedź, the largest European copper producer, had selected its trading and risk management product for its raw materials purchasing activities. The win follows the announcement last month that Brady had also inked deals to provide technology to the Brisbane-based Australian Bullion Exchange and Nordic aluminium supplier Norsk Hydro in July. KGHM was the second contract announced by Brady this week after it secured a further deal with California-based hedge fund provider, Global Capital Commodities. It will manage Global’s derivatives trading and risk for base metals, precious metals, and energy. Brady, which provides trading, risk management and settlement technology, is rapidly becoming the dominant supplier to the energy, metals and soft commodities markets. The company posted strong 90% revenue growth in the first half of 2011 over year-earlier figures.
Brian Collins, head of group product management at Brady, said the company has benefited from the global commodities boom. “We see fresh demand from both new entrants and firms returning to the commodities business as well as continuing to service the replacement market.”
Brady boosted its energy capabilities last December with the acquisition of Viz Risk Management, a leading supplier of risk management and trading solutions to the energy markets.
Collins said the company is now focusing on expanding its global franchise. He said: “We are looking to expand further into Asia and the US and build upon the established contracts we already have in both those regions.”
Rebecca Hampson, Dow Jones Financial News
Brady, the Cambridge-based trading software company, has announced its fourth big contract in two months, in a further sign of the growing dominance of the technology provider which has notched up a stream of wins during the past year.