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Brady ECTRM selected by MAG Commodities for agricultural trading and risk management

First Published 25th October 2013

MAG Commodities licenses Brady's Trading & Risk Management solution to handle its global agricultural trading and risk requirements.

Gavin Lavelle, CEO, Brady plc

Gavin Lavelle, CEO, Brady plc

"We are delighted to welcome MAG Commodities to our rapidly growing customer base in the agricultural trading space."

London - Brady plc, the supplier of trading, risk management and settlement solutions to the agricultural, metals, recycling, energy and softs sectors, has announced that Swiss-based international marketer of agricultural products, MAG Commodities AG, has licensed Brady's Trading & Risk Management solution to handle its global agricultural trading and risk requirements.

The Brady solution aims to provide total transparency and accuracy of MAG Commodities' trading, logistics and risk management operations, from deal capture through to accounting. The solution enables individual physical trades to be viewed from any location, with associated detailed trading costs, including insurance, freight and warehousing, facilitating performance attribution analysis by the Commercial Teams.

Christian Jörg, CEO of MAG Commodities AG, highlighted the reasons behind his decision to opt for Brady: "The straight-through processing, enabling full traceability, status history, documentation, invoicing and approval workflows, fully integrated into the robust trading and risk management solution, made Brady the obvious partner for us". Continuing he commented, "Having researched the market for physical trading solutions, we opted for Brady as it was the best platform to meet our needs and we were highly impressed at the understanding of our business needs by the Brady team. This partnership will be a key factor as our new business develops."

Gavin Lavelle, CEO of Brady plc commented that, "We are delighted to welcome MAG Commodities to our rapidly growing customer base in the agricultural trading space. The agricultural trading space is highly competitive and MAG was keen to benefit from Brady's ability to assist in its operational risk limitation and empower it to address the highly volatile and complex aspects of the commodities supply chain. We really look forward to working together with the team as their new business evolves."