GARMCO opts for Cloud delivery of Brady’s trading and risk management solution for metals

Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals, recycling, energy and soft commodities, announced today that it will deliver its new Hedge Manager solution to Gulf Aluminium Rolling Mill Co. (GARMCO). The new software has been designed to meet the risk management objectives of metal fabricators, rolling mills, cable manufacturers and extruders. It is delivered via a dedicated Cloud environment, guaranteeing the highest level of auditability and security and can be deployed in less than two months.

The Hedge Manager solution provides an up-to-date picture of physical and hedge positions, including accurate mark-to-market, risk and margin figures to ensure that risk managers can implement the organisation’s hedging policy and measure and control the risks they are hedging.

Brady’s Cloud Services provide organisations with a complete turnkey solution that delivers the highest levels of security and reliability as well as tremendous value to an organisation through Brady’s rich solution set. By removing the need for IT infrastructure and associated support costs, our Cloud Services can also significantly reduce the total cost of ownership, and reduce the time and cost of the implementation.

Hilmar Leimbach, General Manager – Finance at GARMCO, said: “Brady’s new software allows us to link our physical aluminium positions to our hedge transactions at all times and we have the reassurance that our data and assets are protected by Brady’s multi-layered security, in line with industry standards. In addition, the new software provides a level of management information over our physical and hedge positions which is unparalleled in the industry”.

Gavin Lavelle, CEO of Brady plc, commented: “Brady is pleased to provide market participants with a quick and reliable solution to proactively manage the demands for hedging commodity price risk.” Continuing, he said: “We are currently seeing pronounced interest in our cloud-based solutions across all asset classes. In particular for metal fabricators, delivering our solution for managing hedging and risk management in the cloud is ideal, combining speed of implementation, a high level of service and market-leading functionality”.