Brady plc, the leading global provider of trading, risk management and settlement solutions to the energy, metals and commodities sectors, announced today that RAO Nordic Oy, a major multi-commodity European trading house with a wide range of trading operations and diversified trading portfolio, has selected Brady Energy’s trading and risk management solution to support its risk management requirements.
RAO Nordic Oy, established in Helsinki in 2002, is a fully-owned subsidiary of the rapidly expanding Russian energy trading company, Inter RAO UES, which has activities in 14 countries throughout Europe and Asia. RAO Nordic Oy has been trading on Nord Pool since 2003 and is a member of Nasdaq OMX Commodities and Nord Pool Spot. Its main business operations include asset-backed physical and financial trading of electricity, proprietary trading, origination and asset management with particular focus on wind power and other renewable assets.
The company has opted to implement the latest generation of Brady’s specialist energy trading and risk management technology to support its energy trading business. The solution will be swiftly employed in Helsinki as a replacement for its current system.
Oleg Zakataev, Managing Director of RAO Nordic Oy, said: “Our vision to become a major multi-commodity European trading house, with a wide range of trading operations and diversified trading portfolio, means that it is imperative we have ample controls and a proven and reliable solution in place to support our growing trading operations and risk management processes. Brady’s experience and track record of providing world-class commodities trading and risk management solutions gave us confidence they were the obvious partner of choice for our trading operations. Moreover, following the proof of concept phase, Brady has proven that the Brady Energy ETRM is fully capable of supporting our requirement specifications for risk management, asset-backed trading and origination. Brady’s full support and ability to deliver a fully integrated solution within a very short timescale was of prime importance to us.”
Gavin Lavelle, CEO of Brady Plc, commented: “I am delighted that RAO Nordic has chosen Brady to replace its current ETRM system, to underpin its expanding trading operations and we welcome them to our growing community of energy trading customers. The rich functionality of the Brady solution will be implemented without the need for any major customisation, enabling us to easily meet RAO Nordic’s timelines for having a fully-functioning solution which meets their requirements. This contract win is a clear endorsement of Brady as a leading technology supplier and evidence of our position as a major provider of specialist trading and risk management solutions to the world’s commodity markets.”