Brady plc Contract win
September 19 2017 - 2:01AM
RNS Non-Regulatory
TIDMBRY
Brady plc
19 September 2017
19(th) September 2017
Brady PLC
("Brady", the "Company" or the "Group")
CONTRACT WIN
London, 19 September 2017: Brady plc (BRY.L), a leading global
provider of trading, risk management and settlement solutions to
the energy, commodities, and recycling sectors, announced today
that Gaelectric Trading and Market Services Limited (GTAMS), one of
Ireland's leading energy trading and market services providers, has
selected Brady's I-SEM Cloud solution.
The solution will support Gaelectric's electricity trading and
management needs and provide energy logistics support for Great
Britain, the Single Electricity Market (SEM) and the new Integrated
Single Electricity Market (I-SEM) for Ireland and Northern
Ireland.
Commenting on the new partnership Colin Spain, Head of
Gaelectric Trading and Market Services (GTAMS) said: "Brady's
systems and product offering was the clear partner and product
choice for GTAMS; the new system will allow us to extend our
trading capability and product offering to clients and expand our
market coverage. It will allow us to grow our existing business in
I-SEM and GB and will assist us in extending our activities in
Europe."
Ian Jenks, chairman of Brady commented: "Working with an
organisation like GTAMS as it transitions its trading operations
from an in-house solution to a more scalable, cloud-based software
solution is incredibly rewarding. We are very excited to be
collaborating with the team as it seeks to address the challenges
that the introduction of I-SEM in the all-Ireland market poses and
focus on the new market opportunities that this will bring. We have
been supporting energy trading and operations across Europe for the
past three decades and our market knowledge can only benefit GTAMS
as it seeks to grow its energy trading activities."
For further information please contact:
Brady plc
Ian Jenks, Executive Chairman
Martin Thorneycroft, Chief
Financial Officer
Telephone: +44 (0)1223 479479
Cenkos Securities
Ivonne Cantu
Alex Aylen (sales)
Telephone: +44 (0)20 7397
8900
Redleaf Communications
Charlie Geller
Telephone: +44 (0)20 7382
4769
Editor's note
As one of the leading companies in the development, operation
and management of renewable energy projects in wind, bioenergy and
solar in the region, Gaelectric was looking for a knowledgeable and
experienced partner to support its trading and operations
processes. In addition, it required support for the transition from
SEM to I-SEM and for future growth plans and expansion to
Continental Europe.
I-SEM is a new wholesale electricity market arrangement for
Ireland and Northern Ireland, designed to integrate the all-island
electricity market with European electricity markets in alignment
with the European Target Model, which aims to deliver increased
levels of competition, security of supply and transparency.
Brady's range of solutions and services are designed to improve
business processes and assist energy organisations to achieve a
higher level of business efficiency by providing better insight.
For GTAMS a scalable platform was an important requirement to
address the company's immediate trading needs but also to support a
growing range of activities through a modular solution approach
that could address additional areas of operation. Brady's hands-on
approach to knowledge transfer during the project was also a key
factor in bringing about the partnership.
About GTAMS
Gaelectric Trading and Market Services Limited (GTAMS) is one of
Ireland's leading energy trading and market services providers.
Their activities include providing their partners with innovative
routes to market via their Power Purchase Agreements, Supplier Lite
Agreements, Supplier Services and Trading & Balancing Services.
With over 20 highly skilled staff, bringing experience from
European, Australasian and U.S. markets, their team's understanding
of regulatory developments, market design, contract structuring
& trading is unparalleled in the all-island market. GTAMS'
contracted portfolio of assets has grown rapidly to 330MW across
Ireland and the UK. The business is well positioned regarding the
development of I-SEM to leverage the unique experience within the
team and provide best in-class service to our partners.
About Brady plc
Brady plc (BRY.L) is the largest European-headquartered provider
of trading and risk management software to the global commodity,
recycling and energy markets. Brady combines fully integrated and
complete solutions supporting the entire commodity trading
operation, from capture of financial and physical trading, through
risk management, handling of physical operations, back office
financials and treasury settlement, for energy, refined and
unrefined metals, scrap and secondary metals, soft commodities and
agricultural products.
Brady has 30 years' expertise in the commodity markets with over
400 customers worldwide, who depend on Brady's software solutions
to deliver vital business transactions across their global
operations. Brady clients include many of the world's largest
financial institutions, trading companies, miners, refiners, scrap
processors, recyclers and producers, tier one banks, and a large
number of London Metal Exchange (LME) Category 1 and 2 clearing
members and many leading European energy generators, traders and
consumers.
For further information, visit: www.bradyplc.com
Brady plc: Twitter / Facebook / LinkedIn
This information is provided by RNS
The company news service from the London Stock Exchange
END
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