Changing brake fluid on a '07 GSXR600

I was curious on how to change the brake fluid on a bike with radial mount brakes. I've changed the brake fluid on my last bike('02 R6)but that bike had standard brakes. I have a '07 GSXR600 now and I noticed it has a nipple on the brake master cylinder as well. What is the nipple located on the master cylinder for? How Do I go about changing the brake fluid? Thanks in advance for any helpful advice.  

The bleed screw on the master cylinder banjo bolt is to help get rid of air bubbles that often accumulate at that point. Because it's a long and tedious process to bleed out air through the master cylinder (continually squeezing the lever until the air bubbles stop), that particular bleed screw speeds up the process considerably. Before that bleed screw came about, the trick was to bleed the air out by loosening the master cylinder banjo bolt; the problem is that it was easy to spill brake fluid all over the motorcycle, possibly damaging paint or other components.

You should be able to change the fluid in the normal manner, i.e., fit a tube over the bleed nipple on the caliper, then bleed out the old fluid while being careful to watch the fluid level in the reservoir, refilling with fresh fluid as it gets low. The master cylinder banjo bolt bleed screw is when you're changing out major parts of the system, such as installing steel-braided brake lines, etc.