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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 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.”
