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Trading arm of German energy giant RWE to use Brady’s Credit Risk software for another five years

"We are delighted to renew our agreement with RWEST. Moving from a one-off licence model to charging on an annual recurring fee basis allows us to build a more predictable business"
rwe building
RWEST is one of the leading energy trading firms in Europe and has used Brady’s Credit Risk software for over a decade

The trading arm of German energy giant RWE has renewed its licence to use Brady Plc’s (LON:BRY) Credit Risk software for another five years.

RWE Supply and Trading will pay an annual recurring fee rarher than a one-off upfront payment, giving Brady greater visibility over its revenues.

READ: Brady says awarded a contract by Ireland's Gaelectric Trading and Market Services for its I-SEM cloud solution product

RWEST uses Brady’s software to manage multiple corporate counterparties with various different margining agreements that result in a daily exchange of collateral worth hundreds of millions of dollars.

The ratings derived using the scoring module help RWEST to set credit limits for the counterparties and helps it to implement its limit policies with trading desks.

WATCH: Transition to SaaS model 'going very well' for Brady Plc

"We are delighted to renew our agreement with RWEST. Moving from a one-off licence model to charging on an annual recurring fee basis allows us to build a more predictable business,” said chairman Ian Jenks.

Shares opened 0.8% higher at 66p on Friday.

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Brady Plc Timeline

Newswire
September 02 2016

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