- BASF, Tangent Trading and Falck Renewable SpA join roster of 130+ global customers including Toyota and Koch
- Brady voted number one in metal trading software market for 11th year by Commodity Technology Advisory
- Ed Addario joins as CTO and Chris Regan appointed as Product Director
London, Cambridge, UK: 17 December 2020. Brady Technologies, a market leader in global commodities trading software, has announced a significant uplift in its sales bookings, as well as the signing of a number of leading industry organisations, including BASF and Falck Renewable SpA.
Since going private earlier this year, Brady has seen total sales bookings rise 93% year-on-year and annualised recurring revenue bookings grow threefold compared to 2019. Non-recurring bookings have also increased by nearly 60% and 100% of major customers have renewed year-to-date.
Brady has also appointed several industry veterans in 2020, as the organisation continues to optimise its options for risk management in the metals trading sector. These include the appointment of Chris Regan, formerly Head of Energy Trading Services at EDF Group, as Product Director for Short Term Power. Ed Addario has also joined as CTO, previously CTO at Currencycloud. Brady has added over twenty new team members so far this year during and despite the market disruption caused by COVID-19.
The company, which was acquired by Hanover Investors Management LLP earlier this year, added BASF, Falck Renewables SpA, BASF and Tangent Trading to its roster of more than 130 customers worldwide.
Brady provides trading and risk management software for the Commodity and Energy markets covering the entire 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, soft commodities, agricultural products, power and gas.
Matthew Peacock, Chairman of the Board and Founding Partner at Hanover Investors commented, “We are delighted with the progress the team has made in 2020 and are excited about how Brady is responding to the dynamic commodities and energy trading market conditions and the needs of its customers going forward.”
Based on the results of Commodity Technology Advisory’s biannual Vendor Perceptions survey, Brady has been voted number one in metals trading software solutions for the 11th consecutive year. “According to the global CTRM Vendor Perception and Analysis, Brady has been seen as the market leader in the metals market by the industry consistently since the biennial study’s inception in 2009,” said Dr. Gary M. Vasey, Managing Partner, Commodity Technology Advisory.
A global provider, Brady has also recently increased localised support in the Nordic region, by expanding local customer support teams.
The company has seen a recent boom in the popularity of its services, as well as its new cloud-based offering. Brady is looking to leverage its range of products and industry know-how into new initiatives responding to new market dynamics. Throughout the ‘lockdown’ period, Brady extended trading capabilities for companies across the globe.
CEO Carmen Carey commented: “We’re in the middle of a perfect storm of regulatory and environmental change, accelerated by COVID-19 and the wider macroeconomic conditions. More than ever before, organisations’ supply chains and governance need to be precise and accurate, and it’s encouraging to see that this has driven adoption of products and innovation where Brady is a recognised market leader.”