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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 Australian Bullion Exchange (ABX), based in Brisbane, has extended its use of Brady solutions to bring order transparency to the market via its electronic trading platform.
The functionality of Brady’s Order Management Solution currently being employed by the Exchange, provides ABX's users with full order management capabilities through the input, capture, querying, modifying and cancelling of electronically placed orders as well as the ability to review the history of orders and executed trades. Going forward, market participants will also have full access to the depth of the market, according to both order size and location. The enhanced service will also offer the ability to publish prices to external websites and pricing services, providing further transparency of the Exchange’s market.
Thomas Coughlin, CEO of ABX, commented, "This is a global breakthrough in the world of precious metals. ABX has brought investors a real-time physical bullion market, offering total price transparency, with the reassurance of the backing of physical bullion, stored in vaults around the globe. Given the strength of the physical bullion investment market, a central exchange is critical to provide a fair and efficient marketplace for all participants. Australia is the second largest gold producer in the world; we need a globally recognised exchange to accompany this position. The ABX strips away all financial engineering to provide a marketplace which is transparent, simple, secure and highly accessible on a global level and, at the same time, improves competition and market efficiency." He continued, "We have made a significant investment in Brady's technology to provide our core infrastructure systems, ensuring a robust and reliable investment platform. Furthermore, Brady’s technology and professionalism convinced us that the platform should be hosted by Brady."
Gavin Lavelle, CEO of Brady, said: "We are delighted with the confidence which ABX is showing in Brady’s product and employee capabilities through their decision to have Brady host their solution. Moreover, the developments we have made to offer an integrated Brady system which manages the work flows, from vault to client trading screen, to ABX are a significant indication of our continuing growth and expansion within the precious metals market. This particular combination of solutions for an exchange is a major deal for Brady, and we are confident it will answer ABX's requirements for further automation of precious metals trading. It is an exciting time for Brady and ABX, and the market transparency afforded will enable ABX's clients to access quickly and efficiently the bullion markets, with total confidence."
