Prysmian Group Chooses Brady to Support European Risk Management

Italian-based Prysmian S.p.a., a cable manufacturers, has selected Brady to support the organisation's European risk management operations, said Brady, a supplier of trading and risk management solutions for metals and commodities. Prysmian Metals is the centralised risk management company that manages risk on behalf of all Prysmian's European affiliates, and a Category 5 London Metal Exchange (LME) member. Brady's solution will be used to manage Prysmian's LME and other hedging requirements for copper, aluminium and lead. Brady's specialist software had to undergo a rigorous assessment process and evaluation against other potential suppliers prior to the deal being confirmed.

"A key requirement of Prysmian was to enhance our risk management operations and automate many of the processes to enable us to manage our risk more effectively and comply with new regulations," said Bernhard Uldrian, head of strategic metals, in a press release. "We expect that Brady's robust risk engine and Brady's expertise and experience in providing specialised tools for trading and risk management of base metals will provide us with a solid foundation for the continuing development and growth of our business," he said.

"We are delighted to have been chosen once again as the provider of risk management software. As one of the world's largest cable manufacturers Prysmian needs to have the best tools available in order to manage its risk. We are very much looking forward to working with them and being a part of their development," said Gavin Lavelle, CEO of Brady.