They can manage fair value and accrual P&L in one system, monitor the interest rate gap and execute economic or accounting hedges. Development of Collateral Management related work (including some MxML/Exchange Workflows) Build new reports/extractions . Our clients have diverse requirements. It offers real-time dashboards to monitor repricing gaps, rates and currency exposures (e.g., DV01 and OAS) for trading and banking book products. "Legacy systems cannot adapt fast enough to . Facing a quickly evolving regulatory environment, MX.3 enables clients to stay ahead, across various processes: Collateral management, with uncleared margin rules, Transaction Regulatory Reporting, with the coming major rules review (e.g., EMIR refit, CFTC rewrite). Operating from our 19 offices, 2400 Murexians from over 60 different nationalities ensure the development, implementation and support of our platform which is . It is exception-based. Learn more about how to achieve internal and external business process digitalization. Empower the buy side to manage positions, cash and securities inventories, and risk across asset classes in real-time with MX.3. MX.3 gives a consolidated view of exposures across entities with incremental intraday variation computed in batch or in real-time. Banco Galicia Collateral Management jul. They can manage fair value and accrual P&L in one system, monitor the risk and execute economic or accounting hedges. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. It enables end users to get figures analyzed efficiently and meet the deadline for official results sign-off. Risk management. It minimizes the time infrastructure is used for recomputation and enables cost savings with a pay-as-you-go model. It provides the optionality to apply advanced treatments for exotics instead of conservative approximations (e.g., breaking down a cap/floor transaction into individual caplets for each flow). The latest iteration of Murex's platform - MX.3 - provides advanced financial services that provide optimal strategies and power an institution's acceleration. It facilitates the optimization of HQLA buffers and compliance checking. A similar approach has been taken for FRTB-SA, FRTB-IMA, initial margin, SA-CCR and CVA capital charge. The powerful MX.3 cash flow engine strengthens the solution by generating contractual flows and estimates future flows across all asset classes, enabling real-time monitoring of liquidity ladders. MUREX S.A.S. Corporate and retail activities can be integrated in MX.3. Remote. ComDer Clearing House - Chile, Calypso project . Q: Based on the experience of those who've already implemented SIMM, what are some of the tricky implementation points to be handled with care? MX.3 centralizes the processing and reporting of trades, positions, margin calls and settlements across all instrument types, trading sources and settlement routes. Each regulatory solution is a stepping stone to another. A wide variety of long-term liabilities is made available for issuances desks with MX.3's native support for fixed income products and enhanced structuring capabilities. Banks implement either standardized or internal models for market and credit risk to reduce capital costs (e.g., FRTB-IMA, SA-CVA, etc.). and business. The solution provides a complete view of the risks taken by the organization. MX.3 simplifies post-trade with all products, from high-volume FX cash to complex over-the-counter derivatives, managed on a robust, single platform. The system relies on its generic workflow framework handling, transactions, settlements, static data and more: It is real time to minimize processing time. It facilitates compliance with the latest regulatory requirements and unlocks a fast time to market to cope with new demands. Nowadays, they are very simple, very easy to use with most if not all functions your repo desk will need. 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. It brings risk figure consistency across regulatory solutions, such as CVA capital charge, counterparty credit risk risk-weighted assets (RWA), central counterparty (CCP) charge, large exposure reporting or leverage ratio. MX.3 addresses the requirements of modern treasuries. Gain a holistic view across the banking and trading books. It eases standard-compliance checks and solution validation by regulators. The prepackaged solutions give flexibility, enabling clients to adapt based on their own interpretation of a regulation. 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. 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. It avoids mapping issues and brings implementation efficiency and day-to-day accuracy. Users are prompted for manual review and action only if an exception check fails. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Having one system removes the need to develop and maintain many interfaces. Seamlessly connect in batch and real time. 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. They provide risk forecasts and help trading to take risk-informed decisions from inception. While the VM process is mostly a cash-based bilateral process, IM is security-based, and involves a third-party. Accenture has been helping Murex clients transform their front, middle and back office operations and risk management functions, including collateral management and treasury operations, for more than 20 years. The solution provides access to denormalized data via its powerful business intelligence tool or through APIs and batch extractions to downstream systems. Collateral operations: once firms are equipped with capabilities to compute regulatory-compliant initial margins, they need to update their collateral processes to ensure these margins get settled on time. Many banks deploy Murex's third generation platform MX.3 to manage risk, accelerate transformation, and simplify compliance, all while driving revenue growth. Trade level CVA and FVA can be allocated to the proper unit of account. The solution supports full management of limit excesses, whether caused by intraday activity or end-of-day batch. risk management, collateral, operations, finance, investment management and treasury. Download the brochure: MX.3 for Bank Treasury, Head of Operations and Strategic Development, Nationwide Building Society, treasury division. Murex delivers smart technology to capital markets. Murex, l'un des plus grands diteurs de logiciels franais, dveloppe depuis 1986 la plateforme de rfrence pour les marchs de capitaux. Murex invested early in regulatory risk solutions, and has been following evolutions with clients ever since, often offering updated packages for legacy installations to meet overlapping and shifting regulatory deadlines. 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. This agile foundation brings together a specialized set of business process to deliver regulatory. Used by more than 250 institutions across the globe, the MX.3 settlement solution manages the complete life cycle of settlements, from automated release to settlement status reconciliation. In 2019, the collateral management and OTC derivatives processing vendor solutions space is dominated by two questions from a Tier I and Tier II investment bank selection process perspective: Beyond the automation capabilities enabled, which include margining, allocation, settlement and accounting, MX.3 is designed and uniquely positioned to provide integrated functions: optimize allocations according to cheapest to deliver, maintain enterprise inventory of securities, integrate with securities finance, refine XVA pricing and risk management and comply with regulations such as SFTR and SA-CCR. de 2016 - jun. Across all our clients, we are seeing collateral data reinforced as being key across various departments: not only from a VM and IM calculation and processing perspective, but also for pricing, trading and risk management. Discover opportunities posed by regulatory requirements. The solutions support variations to the Basel standards and enable clients to adapt more quickly to regulatory changes with packages updates. MUREX SAS ("Murex"), the leading provider of cross-asset trading, risk, and back-office solutions, announces the release of its fully overhauled MX.3 for Collateral Management solution, designed to better support sell-side and buy-side financial institutions in creating an effective pre and post-trade collateral optimization framework. XVA P&L can be fully broken down by various effects such as time decay, market (e.g., forex, interest rates or spreads movements), trade and market operation effects. Fully managed by Murex, the solution leverages a shared and elastic infrastructure. Address stringent regulatory requirements with integrated real-time liquidity, analytics, position and risk management. Murex helps capital markets firms achieve new growth paths and connects them to all participants. The aim is long-term value creation. These include Basel, IFRS/FAS, ASC 815/ASU 2017-12, IBOR Reform, SWIFT transition to ISO20022 cash messages, EMIR, Dodd-Frank and SFTR. 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 . Corrections trigger smart recomputation based only on what is impacted by the change. 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. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. Operations are no exception. MX.3 supports improved STP rates by enabling connectivity to key market utilities such as Acadiasoft Margin Manager and Initial Margin Exposure Manager (IMEM). It offers a wide integration capability that enables a smooth fit within existing IT landscapes. This rollout of PFE was made possible thanks to our partnership with Murex and its upgrade as a service. MX.3 enables FRTB compliance and offers an end-to-end enterprise-wide solution for both the standardized approach, FRTB-SA, and the internal model approach, FRTB-IMA. 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). Murex provides enterprise-wide, cross-asset financial technology solutions. Sensitivity generation requires the ability to project and compute sensitivities across various predefined risk factors (rates, credit, fx, equity and commodities). Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. In each client jurisdiction, a local regulatory watch ensures those packages remain up-to-date with regulation changes. Its MX.3 platform is engineered to meet evolving challenges. Mizuho Optimizes XVA Desk through MX.3 Extension. Holiday calendars: with connectivity to market utilities such as Swaps Monitor. Murex Recent Developments. MX.3 for Collateral Management overcomes inefficiencies in your organizational management by offering a single framework for enterprise-wide margining, optimization, regulatory compliance and collateral trading. XVA P&L can be fully broken down by various effects such as time decay, instrument type (e.g., forex, interest rates or spreads movements), trade and market operation effects. MX.3 functional coverage meets them. As an example, with SA-CCR, when collateral management is managed within the same MX.3 platform, the exposure-at-default (EAD) measure can be reduced in real-time while improving its accuracy and reliability. Responsibilities. Murex, Amid Hiring Drive, Ranked Second-Best Place to Work in France, Glassdoo, Anadolubank Goes Live on MX.3 with MXGO for Treasury and Trading Management, Murex Sees Strong Recognition at Asia Risk Technology Awards 2022, Murex Develops Interface that Offers Fixed Income, Derivatives Data from ICE, Murex Extends Winning Streak in IBSi Sales League Table, MX.3 Again Named Software Solution of the Year at the FTF Awards, Bank Pekao SA Selects Murex to Optimize Total Cost of Ownership, Piraeus Bank Completes Rationalization Project with Murex, Murex Ranked as a Top 10 Place to Work in France on Glassdoor, Murex Expands Mexico City Offices and Bolsters Americas Presence, At Murex, were pleased to be attending and supporting the RiskMathics Digital Banking & Financial Technologies Forum, taking place in Santa Fe from 7th-9th March. Positions are natively represented to serve different business processes. It facilitates proper risk management, transparency and governance. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. MX.3 can be deployed on-premises or on the cloud. A high-performance simulated PFE calculation engine gives end users access to an accurate real-time intraday exposure. Back-testing / Benchmarking: as part of this validation process, firms need to provide back-testing results for portfolios in scope, i.e. Right after an execution is done, the process is automated with platforms such as DTCC CTM and Markitwire or the SWIFT matching solution. Refocus and expand business. Overview. Because all cash transactions are transferred into a single account at Eurex Clearing, segregation is achieved on the clearing house level using the record-keeping of Eurex . Regulations have had a dramatic impact across all business processes within capital markets. Experienced Murex Professional with a demonstrated history of working in the investment banking. MX.3s fully integrating platform model enables streamlined collaboration across all departments. Integrate front-to-back-to-risk offices. Funding desks can perform further analysis by drilling down to the currency, security or trade-level information. More. Murex has developed a global network of trusted partners in the capital markets ecosystem to support growth as it remains focused on core expertise areas. Eliminate manual processes and increase straight-through processing rates. Data quality enrichment done for SIMM benefits FRTB-SA. Participated in the Implementation of Murex Collateral Management System. The bank already had Murex for their Money Market, FX, Equities and Rates business lines but not for collateral,. Murexs ownership of this process allowed Banorte to focus on our own complete internal operating overhaul for setting up a dedicated XVA desk. MX.3 offers pricing, trade capture and trade life cycle management in a versatile catalog of traditional and structured treasury products. Finance teams operate in a complex world of multiple currencies, across multiple legal entities with multiple accounting schemas. Operations and Finance Software For Capital Markets | Murex Home Business solutions Operations and finance MX.3 for Operations and Finance Our clients have diverse requirements. MX.3 helps control capital costs. This enterprise risk management software is used by a large and diverse range of market participants to meet regulatory requirements including Basel III, Dodd-Frank, European market infrastructure regulation (EMIR) and Volcker. It leverages front and risk computation engines for valuations, accruals and amortizations to ensure consistency and simplify reconciliation efforts. What are the New Trading Trends and Opportunities in 2023? Rahba: The new version of the SIMM, 2.0 introduces risk factors for three product types volatility indices, quanto CDS and municipal swaps and includes a full recalibration of parameters (correlations and risk weights). It leverages a pay-as-you-go model and infrastructure elasticity. Remote. With SA-CCR, when collateral management is managed within the same MX.3 platform, the exposure-at-default (EAD) measure can be reduced in real-time while improving accuracy and reliability. MX.3 helps anticipate the market by applying market data scenarios, shifting horizon, running stress tests and executing what-if simulations. Learn more in an introductory video. MX.3 features a rich set of data-driven business objects to support smooth trade processing, static data set-up and to ease maintenance: Counterparties: core data as well as settlement instructions and confirmation instructions. Murex 3 View on IT architecture In-house Package FIER Market Risk Data Warehouse triResolve Portfolio Reconciliation Intellimatch Reconciliation . Comply with evolving global and local regulations and standards. The XVA solution provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. Some of the built-in ledger functions include FX management, which balances calculations with the ability to book balance adjustments, as well as accounting periods management and automated feed to the general ledger. Its powerful Monte Carlo engine simulates counterparty credit risk measures. Mizuho Optimizes XVA Desk through MX.3 Extension. MX.3 offers strong analysis capabilities to risk officers. Manage market risk for trading and banking books in one system. Murex Collateral Workflow Resource. Posted: February 28, 2023. Development/Support in Murex Collateral Management. Head of Operations Head of finance Head Product Control Head of collateral Back-office analyst Data specialist Pamela Hacker Download the brochure: MX.3 for Operations and Finance. Our future-ready solutions include system transformation, DevOps enablers, cloud, continuous testing, upgrades and managed services. It has been an impressive journey with Murex as they continued to invest in all parts of their MX.3 platform, not just the front-office piece for which we originally used them. 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. 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. It automates and controls the banks value chain. 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. On-screen drilldown analysis and reporting allow for a performance hierarchy consolidation down to transaction and position levels, with the ability to check transaction and market data details. The MX.3 platform offers banking book integration, a centralized inventory of all securities including from trading activity, securities lending and borrowing, repo collateral and securities held or pledged as collateral assets. Cross-asset platform MX.3 business processes cover all asset classes and functions for treasury, trading and investment activities. It is designed to be flexible enough to support changing regulatory requirements while centralizing and simplifying them, ensuring . Infrastructure provisioning linked to intraday corrections is optimized because of a surgical recomputation based on what is impacted by changes. Knowledge of collateral management a big plus but not a must. Limits can be temporarily increased, or the limit line can be reallocated across business units and desks. #murex #riskmathics #latam #fintech #traditionalbanking . 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. It eliminates unnecessary reconciliation between the front and back offices. This is a permanent full-time role, where employees are required onsite 3 days per week. It is an integrating platform to optimize liquidity management, precisely measure risk and control operational cost. 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. In summary, before, repos in Murex meant you like making your life a challenge. Such a process involves several steps: identify those counterparties which are subject to IM rules, compare trading relationships with active CSAs, negotiate contract clauses, including applicable jurisdictions, choice of calculation method (ISDA SIMM vs Schedule-based), choice of custodians, etc. MX.3 offers a fund transfer pricing (FTP) framework integrating the bank's activities to our capital markets solution. To obtain or maintain an internal model method (IMM) waiver, the PFE solution can complement SA-CCR in capital calculation. Mizuho Optimizes XVA Desk through MX.3 Extension, 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, Sibos 2022: Rabobank, Accenture and Murex Discuss Platform Transformation, ICBC Standard Bank COO Reveals Deciding Factors in Selecting Murex as Partner, ICBC Standard Bank Details Main Benefits of Using MX.3 for Commodities Trading, Bankdata Details Largest Re-platforming Program, Rabobank Chief Digital Officer Details the Transformation Journey with MX.3, MX.3 Enterprise Risk and Regulatory Suite. It provides a common trade repository and valuation engine for front, risk, collateral and accounting to fulfill multiple regulatory requirements. Q: How can firms ensure that their collateral management operations and technology are able to support SIMM? 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 Stress-testing supports historical scenarios as well as the design of hypothetical adverse scenarios, leveraging criteria-based shifts and proxies, addressing risk management and regulatory purposes such as stressed risk measures. Exceptions are handled manually from a dashboard with a birds eye view. Download our MX.3 for Enterprise Risk Management brochure. Central management enables consistent and efficient monitoring of intraday limit usage. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. Dedicated alliance managers define relevant strategies with system integrators, connectivity partners, technology partners and industry associations across all regions. Larger firms that were part of earlier phases, might be using our platform from a front-office perspective, where we are focusing on making sure they can generate sensitivities across asset classes. The MX.3 platform offers banking book integration, a centralized inventory of all securities including from trading activity, securities lending and borrowing, repo collateral and securities held or pledged as collateral assets. To serve large and complex computations, MX.3 provides a proprietary grid or can be integrated with the IBM Symphony grid, and supports both CPU and GPU engines. MX.3 enables the management of corporate actions, from sourcing to settlement across various asset classesequities, fixed income and securities finance: Voluntary, mandatory and mandatory with choice events management for securities, listed and OTC derivatives, Full life cycle management, including notification, simulation of elections, reconciliation, settlement and accounting, Corporate actions journal management and automatic propagation to positions, trades and static data, Automated allocation to internal books through configurable rules. It enables treasury management for subsidiaries, special purpose vehicle (SPV) and branches either in a centralized or a decentralized model. It became apparent that we had the right chemistry to build such a long-term strategic partnership, and the Murex solution provided the opportunity to simplify our systems architecture, build a single, fully integrated front-to-back solution for all our treasury needs. 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