London, 8 March 2010

Brady plc has seen a significant increase in electronic trading, hedging and risk management of Steel futures contracts so far this year. This is in line with the LME recording record trading levels and substantial growth (72% since the start of the year) in Market Open Interest (MOI). In a recent statement, the LME confirmed that 2010 has seen 3 of the most highly traded days for the Exchange’s Mediterranean contract, which was launched in February 2008. At the same time the Brussels-based World Steel Association, whose members produce approximately 85% of the world’s steel, reported that steel production in January 2010 was more than 25% higher than the same period last year.

Gavin Lavelle, CEO of Brady plc, commented, “The increase in steel production shows healthy green shoots in the world economy and represents substantial areas of potential growth for Brady. Combined with the exponential growth in electronic trading, the renewed buoyancy of the steel market is leading many of our clients to increase their use of our technology as they seek the benefits of a single-source-solution approach for their highly complex trading, hedging and risk management requirements.”

A similar expansion is being seen on the Shanghai market with China’s steel futures, where the steel market is based on the heavy demand for the steel products, rebars and wire rods required in the ongoing industrialisation and urbanisation process in China and where there is a significant need for the price of steel to be less volatile.  It is thought the increase in the trading of steel futures will enable this.

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