Such Changes Would Bring MBS Closer to Corporate Bond Market --Kroszner
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Kroszner: Data Suggest Home Mortgage Debt Hasn't Risen at All Since Spring '08
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Kroszner: New Infrastructure for MBS Could Increase Transparency, Promote Indepndent Credit Analysis
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Data Suggest Near-Term Challenges for Housing Mkt Stabilization --Kroszner
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Kroszner: Investors Will Remain Skeptical of 2-Layer Securitized Products in Foreseeable Future
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Kroszner: MBS Securitization Contracts Should be More Homogenous, Cash Flow Structures Less Complex
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Securitization of MBS Still Worthy for Cost-Lowering Effects on Home Loans --FED's Kroszner
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Securitizations Should Involve Fewer, Larger MBS Tranches --Kroszner
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Correction: BOC Injects C$3bln in Term Repos
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Six Gunmen Shot By Indian Security at New Dehli Airport --BBC
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Of The Major Parties at Auto Hearing, Only UAW Has Done Something --Dodd
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BOC to Buy Back Up to C$500mln of Bonds on Wednesday
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Congresss Will Try Passing Auto Bailout Bill Before Leaving
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Senate Banking Committee Hearing On Auto Bailout Ends
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30yr Yield Drops to Record Low for 4th Day -- 3.0532%
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Stocks Off New Lows - S&Ps Down 4% at 833, Dow Down 3.5% at 8270
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'Not Persuaded' on Auto Bailout --Shelby on Bloomberg TV
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S&P Just Off Lows, Down 3.2% to 843
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Chrysler "More" Than Happy to Provide Assurances Taxpayers Will Get Money Back
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Citadel down 47% YTD - WSJ
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September 17th, 2008 - ASARCO chooses Brady as its new commercial, trading and risk management technology provider

Asarco sign up for Brady's commercial, trading and risk solution

Gavin Lavelle, CEO of Brady: "We are delighted that ASARCO has chosen our refined and concentrates application as a core part of an end-to-end solution and demonstrates that we have a successful product that fills an important strategic position in the metals and mining industries."

Brady has announced that ASARCO has chosen Brady as its new commercial, trading and risk management technology provider.

Brady’s integrated solution set, with its Concentrates module, will provide complete straight-through processing (STP) and will include contract capture, confirmations, position keeping, P&L, risk management and reporting as well as back office support for ASARCO’s copper concentrates and refined metals business; it will also provide support for the associated gold and silver by-products.

“We are taking the long-term view with Brady,” says John George, Vice President, Administration of ASARCO, “We chose Brady because its software solution set satisfies all our current and future requirements; I can also foresee ASARCO integrating Brady with other areas of the business such as our traffic or inventory systems. Brady has enough flexibility and breadth to enable us to extend its usage.”

With four mines in Arizona and a refinery in Texas ASARCO’s key requirement was to find and implement a specialist commodity software solution that would enable it to manage and measure its risk effectively both for physicals - metal and concentrates - and for financial trades, including copper, gold and silver products. In assessing the systems available on the market ASARCO found that Brady’s software solutions were the most suitable and aligned most closely with its business strategy.

Says Gavin Lavelle, CEO of Brady: “We launched our Concentrates module with producers clearly in mind. This enables them to manage both the refined and unrefined materials through the same solution to give a consolidated raw materials and refined metals book. We are delighted that ASARCO has chosen our refined and concentrates application as a core part of an end-to-end solution and demonstrates that we have a successful product that fills an important strategic position in the metals and mining industries.”

Gary Miller, Commercial Vice President at ASARCO, comments: “As our business grows and develops we felt that we needed an integrated supply chain management (SCM) and risk management system that would cover the whole mine-to-market cycle. Brady gives us the tools to handle all the trading and risk management aspects for our concentrates, refined metals, by-products and derivatives.”

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