Mitsubishi Corporation signed a deal to extend the use of Brady plc’s trading and risk technology to include all of the corporation’s global trading of both physical and derivative precious metals.
Mitsubishi International Corporation originally chose Brady in New York for its precious metals and aluminum trading in January 2007. The new deal, signed in i2009, will provide Mitsubishi with a single integrated platform for both physical and derivatives trading and also provide improved exchange connectivity and regulatory compliance for their global activities, according to the release.
Mitsubishi Corporation is Japan’s largest general trading company, (sogo shosha), with over 200 bases of operations and 500 companies in approximately 80 countries worldwide.
Commenting on the expansion of the contract, Gavin Lavelle, CEO of Brady, stated: “Mitsubishi is a great client to work with. They have been using our trading and risk technology in New York since ’07. And have chosen us again for a global implementation. Its increasing use of our trading and risk technology results from our continuing investment in our product set and the specialist knowledge of our R&D teams.”
Brady provides regulatory compliance, particularly Value-at-Risk (VaR and audit capabilities), valuation and improved risk management tools including enhanced mark-to-market reports that present an enterprise-wide view of risk positions in real time.
Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio