Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Luis Alejandro Medina Portillo, Market Specialist & Regional Manager at Murex LatAm, will be joining an expert panel at the event to discuss the evolving roles of traditional banking and fintech. We see most challenges arising from the first and last piece of the process. $1bn in innovation over 10 years Murex partners with over 300 clients, including global banks, market makers, leading multi-regional banks, regional and national banks. LEARN HOW BANKDATA LEVERAGES MX.3 TO TRANSITION TO RISK-FREE RATES UNDER IBOR REFORM, AS WELL AS FRTB AND SA-CCR, FOR EIGHT DANISH BANKS. In the context of a major rules review, MX.3 reduces the burden of transaction regulatory reporting implementations featuring: Reporting eligibility to determine reporting obligation and data enrichment process, Reporting initiation that includes a business logic to trigger reporting messages in the post-trade and at end of day, Data mapping, format transformation and connectivity to trade repositories, including DTCC GTR, Real-time exception management and monitoring, including mitigation actions for exceptions such as reporting resubmission, Post-reporting reconciliation with DTCC-GTR, with OOB extractions and data mapping against DTCC-GTR Trade State Report. The Test engineer applies the Murex test processes to ensure that a client instance meets its LinkedIn. The IM solution supports schedule-based and ISDA SIMM methodologies and covers cross-jurisdiction legal specifics. MX.3 centralizes the processing and reporting of trades, positions, margin calls and settlements across all instrument types, trading sources and settlement routes. The technology retains full representation of underlying financial contracts, maximizing credit risk officer analysis capacity in a constrained timeframe. [2] It covers internal market risk; fundamental review of the trading book (FRTB); X-valuation adjustment (XVA); standardized approach for measuring counterparty credit risk (SA-CCR); credit risk and initial margin (IM). The solution can be implemented all at once or incrementally at a staggered pace where and when it makes organizational sense. Murex helps capital markets firms achieve new growth paths and connects them to all participants. The last piece of the process, margin call processing, has similarities with the variation margin process, but it comes with some specificities: in particular, once firms have agreed with their counterparties on the amounts of initial margin and additional collateral, they are then generally relying on tri-party agents to fulfil their collateral requirements. All exposures can be checked against limits pre-trade and in real time to optimize decisions and reduce operational risk. Our clients have diverse requirements. The Murex treasury solution is recognized for its real-time capabilities for data, as well as pre- and post-deal limit checks. It supports trading, treasury, risk and post-trade operations to help clients meet regulatory requirements and to manage risk and IT costs. Development of Collateral Management related work (including some MxML/Exchange Workflows) Build new reports/extractions . It is designed to be flexible enough to support changing regulatory requirements while centralizing and simplifying them, ensuring . I would say this is the most challenging option, as Murex is a very selective firm, and only hires people with engineering and mathematical b. Cash collateral is provided to Eurex Clearing by way of full title transfer. Smaller firms use our platform front-to-back, and need not only to generate CRIF-formatted sensitivities, but also rely on our capabilities to compute initial margin, and use our collateral operations to generate margin calls. MX.3 offers a fund transfer pricing (FTP) framework integrating the bank's activities to our capital markets solution. Our future-ready solutions include system transformation, DevOps enablers, cloud, continuous testing, upgrades and managed services. Similarly, they need to provide benchmarking results, comparing SIMM to another model (e.g. Regulatory and market evolutions require risk managers to monitor more granular and diversified types of risks. Based on a modern technology stack, the solution supports several deployment models, such as cloudAmazon Web Service and Microsoft Azureon-premises or with managed service in SaaS. Dedicated alliance managers define relevant strategies with system integrators, connectivity partners, technology partners and industry associations across all regions. ComDer Clearing House - Chile, Calypso project . Nowadays, they are very simple, very easy to use with most if not all functions your repo desk will need. Murex is a software company offering a wide range of products and tools necessary for the success of financial institutions in today's digital world. These include limit suspension, trade hedging or blocking contracts breaching limits. Seize market opportunities. Murex Information We are the long-term technology partner for the capital markets, working with financial institutions in over 60 countries to adapt and evolve their IT systems. The 2022 Risk Technology Awards recognised products and services that helped firms steer through the Covid-19 pandemic, a testament to the winners' resilience in the face of unprecedented disruption and the key role they play in today's markets. We are expecting updates of this model on a yearly basis, meaning new parameters as part of this calibration exercise, and feedback from market participants, as well as a methodology review. VaR). Rahba: Firms need to embark on quite a long and complex journey to get their organisation and collateral management procedures up to speed with the phase-in of initial margin regulations. WHAT WE DELIVERED: With the successful introduction of collateral management on Murex, the client achieved their goal of setting up a future-proof and cost-effective collateral management architecture and platform. The solution also supports the computation and transfer of funding valuation adjustment (FVA) for derivatives transactions. It is very flexible. In summary, before, repos in Murex meant you like making your life a challenge. MX.3 offers an enterprise-wide solution for global credit risk management. Format results as per the standard ISDA CRIF (Common Risk Interchange Format). Comply with evolving global and local regulations and standards. It leverages a pay-as-you-go model and infrastructure elasticity. The solution enables capital management via risk-weighted assets (RWA), including exposure-at-default either with a standard (e.g., SA-CCR) or internal model method (PFE with IMM waiver), CVA risk charge and central counterparty (CCP) capital charge calculation. Responsibilities. Overview. Be flexible enough to cater for SIMM specifics on top of an existing usage (e.g. Trade level CVA and FVA can be allocated to the proper unit of account. Nowadays, they are very simple, very easy to use with most if not all functions your repo desk will need. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Murex, l'un des plus grands diteurs de logiciels franais, dveloppe depuis 1986 la plateforme de rfrence pour les marchs de capitaux. Project Tasks included: Functional Lead - Data Migration For Agreement Static Data: - Mapping of ALGO (previous collateral management system) fields to Murex fields - Building upload file for migration of agreement static data Supported Traders, Risk Managers and Support teams on client-side to help them leverage on Murex functionalities to optimize operations and reduce time to market new financial products . Nos vemos en CDMX entre el 7-9 Marzo!. Second, it provides control,with tools to monitor and act on exceptions along with a cradle-to-grave audit trail. Operating from our 19 offices, 2400 Murexians from over 60 different nationalities ensure the development, implementation and support of our platform which is . Regulations have had a dramatic impact across all business processes within capital markets. As the dust starts to settle for firms that have put the deadline behind them, these firms are looking more and more at the impact of such margins on the value chain of trading. The solution provides access to denormalized data via its powerful business intelligence tool or through APIs and batch extractions to downstream systems. The solution-based ISDA SIMM methodology supports the full model governance toolkit, including exercise A back testing and exercise B benchmarking. It avoids mapping issues and brings implementation efficiency and day-to-day accuracy. It covers a wide range of analytical exposures, including pre-settlement, lending, issuer, country and concentration risks. Some clients are also looking at extending valuation adjustment capabilities to incorporate funding effects related to IM, in the Margin Valuation Adjustment (MVA). MX.3 runs each process in a fully automated manner, such as routing or exception checks based on a set of predefined rules. MX.3 for Enterprise Risk Management is a cloud-ready solution that enables risk managers to stay one step ahead on risk control and to achieve regulatory compliance. They can manage fair value and accrual P&L in one system, monitor the risk and execute economic or accounting hedges. Out-of-the-box connectivity to reconciliation tools facilitates cash, security position and collateral exposure reconciliation. It facilitates the optimization of HQLA buffers and compliance checking. With 300 clients and 57,000 users spread across 60 countries around the world, Murex has a truly international client base of capital markets participants. Our clients have diverse requirements. Gain a holistic view across the banking and trading books. Mizuho Optimizes XVA Desk through MX.3 Extension. #fintech #technology #DigitalBanking. Discover opportunities posed by regulatory requirements. It specializes in all asset classes while managing collateral, margins, and OTC positions. de 2016. MX.3s fully integrating platform model enables streamlined collaboration across all departments. AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment . This is complemented by a real-time limit and exposure monitoring solution. MX.3 empowers funding and issuance desks to run their short- and long-term funding activities. Posted 9:29:01 PM. Finance teams operate in a complex world of multiple currencies, across multiple legal entities with multiple accounting schemas. You are part of a cross technical and functional agile team, where you . Of course, there are variations with readiness and the degree of work required to get up to speed with margin rules and SIMM 2.0 depending on the size and shape of the firm itself. On top of these implementation challenges which focus on the daily calculation and processing of IM calls, back-testing and benchmarking requires dedicated attention as part of the model validation exercise. This ensures high STP rates while controlling operational risk through dedicated dashboards, across all business lines and asset types, leveraging: Automatic assignment of standing settlement instructions (SSI), Multiple payment methods (e.g., gross, net, CLS, DVP, FOP, PVP, pre-delivery) and channels (e.g., SWIFT, over account, RTGS), Full support of the transition from SWIFT MT to SWIFT MX (i.e., ISO 20022), compliant with cross-border payments guidelines and local real-time gross settlement systems (e.g., TARGET2, CHAPS, FEDWIRE), Real-time view of nostro cash and security accounts for intraday settlement and next day projections for accurate funding and security inventory monitoring, with interfaces to reconciliations tools. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Download the brochure: MX.3 for Operations and Finance. Mizuho Optimizes XVA Desk through MX.3 Extension. greater new york city area. NAB Significantly Improves Performance by Migrating MX.3 to AWS, Pavilion Energy, Upskills, Murex Deploy MX.3 to Azure, Leading Mexican Bank Banorte Strengthens Credit Risk Management Practices, Rabobank Achieves Strategic Transformation with Murex MX.3, BIBD Embraces Murex Solution for Bank Treasury with Islamic Finance, Momentum Metropolitan Migrates, Upgrades MX.3 to AWS, Murex Enables NCB to Meet Complex SA-CCR Requirements, ABN AMRO Relies on Murex and smartTrade to Automate the Full FX value Chain, Krungsri (Bank of Ayudhya) Manages Higher Volumes, Rapidly Scales with Murex, Sibos 2022: Rabobank, Accenture and Murex Discuss Platform Transformation, Nationwide Outlines Critical Factors in Selecting Murex as Treasury Vendor, Murexs Philippe Helou Discusses IBSi Sales League Table 2022 Win, ICBC Standard Bank Details Main Benefits of Using MX.3 for Commodities Trading, ICBC Standard Bank COO Reveals Deciding Factors in Selecting Murex as Partner, Rabobank Chief Digital Officer Details the Transformation Journey with MX.3, IBSI FinTech Journal August 2021 - The Big Interview. MUREX optimizes and integrates trading, risk management and settlement into a package that . Market conditions demand prioritized bank focus on treasury departments. This enterprise-wide solution, used by more than 150 customers across all tiers, has a broad range of analytical and simulated methodologies, such as Monte Carlo potential future exposure (PFE). It eliminates unnecessary reconciliation between the front and back offices. This rollout of PFE was made possible thanks to our partnership with Murex and its upgrade as a service. cross-currency swaps). The latest iteration of Murex's platform - MX.3 - provides advanced financial services that provide optimal strategies and power an institution's acceleration. Eliminate manual processes and increase straight-through processing rates. Alternately, P&L can be imported from other system sources, with the ability to correct and enrich the figures in MX.3 (e.g., adjustments, reserves) and recalculate on demand. 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