The Search for a True, Front-to-Back, Modular Vendor Offering . Murex is a global fintech leader in trading, risk management, and processing solutions for capital markets. 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. It automates the entire calculation chain with the full data set to improve accuracy. <br><br> SME in OTC Derivatives' - Credit, FX and Rates - related events and lifecycle management<br> Experienced . MUREX optimizes and integrates trading, risk management and settlement into a package that . 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,. In a nutshell, a SIMM project involves various parties (front-office, risk, operations, legal) and different technology capabilities along those functions, so one of the challenges is to set up the right project governance model. Exceptions are handled manually from a dashboard with a birds eye view. Murex Consultant/Developer Encore Theme Mount Laurel, NJ Estimated $91.9K - $116K a year Risk officers enjoy strong analysis capabilities and have full autonomy in calculation process correction. Consistency is enforced by a shared reference data repository and a common calculation framework. It is designed to be flexible enough to support changing regulatory requirements while centralizing and simplifying them, ensuring . It automates and controls the banks value chain. MX.3 supports full compliance with uncleared margins rules (UMR) across jurisdictions, from the full support of ISDA SIMM and schedule-based initial margin calculation methodologies, down to connectivity to key tri-party agents and third-party custodians. Central management enables consistent and efficient monitoring of intraday limit usage. Operating collateral management in a centralized manner across bilateral and cleared OTC, listed derivatives, repo trading and securities lending reduces operating costs and makes it easier to optimize collateral inventory use. MX.3 provides enterprise solutions that allow banks to control market, credit, and liquidity risk for internal and regulatory compliance. The solution features a flexible global operating model that mirrors a financial institutions entity structure with desks, books, portfolios or other hierarchical dimensions. For example, firms might want to put in place some risk control procedures and limits to closely monitor how far they are from the initial margin threshold. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. To successfully compete, they must leverage technology and deliver new value to customers. High-throughput integration capabilities for trade execution and positions are supported. Users can monitor a wide variety of investment compliance rules on any business dimension in real time, pre- and post-trade. The complexity of these risks leads to ever-more-intensive computational needs, which require enterprise risk management software. It enables fast decision-making and reduces operational risk. More than 100 clients worldwide use Murexs treasury solution. [2] 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. Collateralization & typical portfolio mix An institution's OTC portfolio will commonly contain a mix of: - Bilateral CSAs with 0 threshold and daily margining (cash) - Positions cleared on CCPs : daily or intraday exchange of Variation and Initial Margin - CSAs with asymmetric terms One-way with SSAs Over-collateralized agreements (IAs, It is a three-step process: Sensitivities generation, across various asset classes and products. Gain a holistic view across the banking and trading books. At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution and deploy more modern credit limit management metrics. MX.3 enjoys the widest instrument coverage in the industry, from flow to complex products. Murex Explores How Digital Assets, DLT Might Reshape Digital Landscape, Sibos 2022: Rabobank, Accenture and Murex Discuss Platform Transformation, LIBOR Transition Preparing for the Final Year, Nationwide Outlines Critical Factors in Selecting Murex as Treasury Vendor. Murex delivers smart technology to capital markets. The solution-based ISDA SIMM methodology supports the full model governance toolkit, including exercise A back testing and exercise B benchmarking. Right after an execution is done, the process is automated with platforms such as DTCC CTM and Markitwire or the SWIFT matching solution. Firms need not only to implement these models, but also to go through a regulatory approval process across national regulators. Murex 3 View on IT architecture In-house Package FIER Market Risk Data Warehouse triResolve Portfolio Reconciliation Intellimatch Reconciliation . Murex provides enterprise-wide, cross-asset financial technology solutions. Achieve operational excellence with a single cross-asset platform that streamlines standard and bespoke processes. Project in Murex SAS Paris, in Client Services Department Stream Lead of Enterprise Risk Management - Support to client requests on risk modules: Market Risk, Credit Risk, Risk Control and. Improve efficiency and cost-effectiveness. Many banks deploy Murex's third generation platform MX.3 to manage risk, accelerate transformation, and simplify compliance, all while driving revenue growth. IM computation, by aggregating these sensitivities, using risk weights and correlations. Central management enables consistent and efficient monitoring of intraday limit usage. Financial institutions have entered a digital race. #murex #riskmathics #latam #fintech #traditionalbanking . 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. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. It facilitates proper risk management, transparency and governance. Comply with international and domestic GAAPs. Looking ahead, the model will need to be calibrated on a regular basis as part of the governance of SIMM. MX.3 increases transparency and visibility, giving end users, managers and auditors a complete view of the full hedge accounting chain, from trade booking to documentation to financial statements. MX.3 interfaces with market and reference data providers, multi- and single-dealer platforms, affirmation and clearing, repo management, collateral, settlement and transaction regulatory reporting. Rahba: Lets look at the end-to-end process of getting IM calls settled on a daily basis. 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. Security instruments: across both equities and bonds, with out-of-the-box connectivity to Bloomberg to collect ISIN data. 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. Comply with evolving global and local regulations and standards. Murex Collateral Workflow Resource. Manage market risk for trading and banking books in one system. It interacts with third-party deal capture systems. It supports trading, treasury, risk and post-trade operations to help clients meet regulatory requirements and to manage risk and IT costs. Head of Operations Head of finance Head Product Control Head of collateral Back-office analyst Data specialist Pamela Hacker It enables proactive intraday monitoring, as well as introspection with what-if and drill-down analysis through dedicated dashboards. Its powerful Monte Carlo engine simulates counterparty credit risk measures. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Development of Collateral Management related work (including some MxML/Exchange Workflows). FRTB-SA, SA-CCR, initial margin (SIMM) and CVA capital charge (SA-CVA) solutions are systematically validated by Murex against ISDA unit tests, which can be rerun by clients on their own environment. It facilitates the optimization of HQLA buffers and enables compliance check. FRTB-SA leverages over two decades of experience in sensitivity analyticsit brings accuracy and rich product coverage. Optimize High-quality liquid asset (HQLA) buffers and unlock investment opportunities. 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 . Data mapping richness helps clients cut costs and effort required for extractions, mapping and reconciliations. Extend the usage of securities as collateral. In addition to entries posting at transaction level, it supports concurrent inventory cost methods (e.g., FIFO, AVP, cherry picking) with robust capabilities to drill down to the contributors of the position providing accessible, reliable, transparent data. Murex has more than 57,000 daily users in over 60 countries. About Murex Since its creation in 1986, Murex has played a key role in proposing effective technology as a catalyst for growth in capital markets, through the design and implementation of. MX.3 is the integrating capital markets platform Discover MX.3 Sales and trading Close the gap between front office, risk, operations and finance with MX.3 advanced analytics and leading product coverage. Sibos 2022: Listen to Rabobank, Murex and Accenture as they provide perspectives on the opportunities of IT re-platforming. Funding desks can perform further analysis by drilling down to the currency, security or trade-level information. Connect with key tri-party agents to get collateral allocated. Our clients have diverse requirements. MX.3 functional coverage meets them. P&L attribution can be done cross-asset with segregation of different explanation reasons, such as time, market data and life cycle changes. 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. and business. 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). It is very flexible. Corrections trigger smart recomputation based only on what is impacted by the change. MX.3 offers a fund transfer pricing (FTP) framework integrating the bank's activities to our capital markets solution. It is exception-based. It facilitates the optimization of HQLA buffers and compliance checking. It highlights the need for collateral management systems to: Extend the VM process to IM, including the ability to process in real-time margin calls on an electronic messaging platform such as Acadiasoft Marghinsphere. We have detailed how complex such a project is. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Learn how peers benefit from MX.3. Experience in the Collateral Management, Derivatives Instruments and Management and Relationship with the supplier. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. 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. - Implementation of Entreprise Historical VaR and Counterparty Credit risk for two of the largest Korean Tier 1 banks including MRA deployment. Eliminate manual processes and increase straight-through processing rates. Its MX.3 platform is engineered to meet evolving challenges. Regulatory solutions like FRTB-SA, FRTB-IMA, SA-CCR and initial margin (IM) come with prepackaged regulatory content that facilitates reporting on multiple jurisdiction requirements. It enables treasury management for subsidiaries, special purpose vehicle (SPV) and branches either in a centralized or a decentralized model. ), netting agreements. Limits can be temporarily increased, or the limit line can be reallocated across business units and desks. The solution supports local and specific conventions across markets worldwide, including Islamic finance and Latin America particulars, among others. Strong professional with a BE degree focused in Information Technology from K.J. Larger firms, for whom initial margin requirements have been phased in since September 2016, tend to have a more decentralised risk infrastructure. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. Model validation and implementation: firms can either use a schedule-based method, or a model with margins that meets a 99% confidence level of cover over a 10-day standard margin period of risk. It proposes solutions for both the standardized approach, FRTB-SA, and the internal model approach, FRTB-IMA. Classify these sensitivities, according to the SIMM rules, possibly relying on an external utility providing such classification services. 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. 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. Murex Collateral Workflow Resource. Operations teams are continuously adapting to changing regulations and market infrastructure evolution while supporting ever-growing transaction volumes across financial products. The solution covers the range of exposures for market, credit, liquidity and operational risks across trading, banking and investment books. Agreements: Master agreements including key provisions used across the platform (e.g., close-out netting), collateral agreements (CSA, GMRA, etc. Download the brochure: MX.3 for Bank Treasury, Head of Operations and Strategic Development, Nationwide Building Society, treasury division. The solutions support variations to the Basel standards and enable clients to adapt more quickly to regulatory changes with packages updates. It delivers seamless pricing, cost allocation and risks transfer. We have helped our clients overcome these challenges. 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. The solutions powerful workflow framework for trade, settlement and confirmation processes produces extremely high level of automation along the entire value chain. Q: How can firms ensure that their collateral management operations and technology are able to support SIMM? It computes incremental XVA costs and sensitivities in real time and pre-deal, while structuring new trades. 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. From their day-to-day screen, end users can slice and dice and drill down to the finest calculation inputs, such as trades parameters, legal agreement in addition to other reference data. These include limit suspension, trade hedging or blocking contracts breaching limits. Mizuho Optimizes XVA Desk through MX.3 Extension. 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. It supports cash and security pools, pool and trade-level margining and triparty profiles. Mizuho Optimizes XVA Desk through MX.3 Extension. 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. 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, Build Accurate Rate Curves in an Inflationary Context, 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, Rabobank Chief Digital Officer Details the Transformation Journey with MX.3, IBSI FinTech Journal August 2021 - The Big Interview. 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 facilitates the transfer of funds between accounts through manual or automatic procedures. Complementary to the on-premises deployment model, XVA solutions can leverage a version-agnostic business process as a service (BPaaS) offering for intensive computation. In each client jurisdiction, a local regulatory watch ensures those packages remain up-to-date with regulation changes. Learn more about how to achieve internal and external business process digitalization. Each regulatory solution is a stepping stone to another. Learn more about the event here: http://bit.ly/3XITM8J Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. MX.3 offers a multi-GAAP, multi-entity and multi-currency accounting ledger for trades and positions across derivatives and cash instruments. A cloud-friendly enterprise risk platform that covers cross-regulation requirements simplifies and speeds up compliance and reduces total cost. Many MX.3 ERM solutions come with prepackaged regulatory content to accelerate project implementations. Murex helps capital markets firms achieve new growth paths and connects them to all participants. 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. Short-term funding desks have tools to book and manage deposits, commercial papers, certificate of deposits, repos, reverse repos and more. Development of Collateral Management related work (including some MxML/Exchange Workflows) Build new reports/extractions . MX.3 is at the heart of the banks IT infrastructure, connecting seamlessly with existing systems (e.g., core banking, data warehouse, general ledger, etc.) The system relies on its generic workflow framework handling, transactions, settlements, static data and more: It is real time to minimize processing time. Murex is a company that provides financial software for trading, treasury, risk, and post-trade operations for financial markets. As IM regulations are being phased-in until 2020, we see a lot of institutions focusing on initial margin as a post-trade down-stream process. Murex supports diverse financial services clients, from banking and asset management to commodities and energy. The solution enables bank-wide monitoring of nostro balances in real time. The solution provides a complete view of the risks taken by the organization. Consent * Q: How different is version 2.0 of SIMM compared to the previous version? This includes calculation of bilateral BCBS/IOSCO WGMR margin rules. Ensure financial resilience. 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. Murex is a leading global software provider of trading, risk management, processing operations, and post-trade solutions for capital markets. 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: These include limit suspension, trade hedging or blocking contracts breaching limits. Operating from our 19 offices, 2500 Murexians from over 60 different nationalities ensure the development, implementation and support of our platform which is used by banks, asset managers, corporations and utilities, across the world. Murex, l'un des plus grands diteurs de logiciels franais, dveloppe depuis 1986 la plateforme de rfrence pour les marchs de capitaux. VaR). MX.3's flexible structuring tool and adaptable configurations make it simple for end-users to extend coverage to additional structured products on the fly. MX.3 helps financial institutions comply with various transaction-based regulatory regimes, such as G20 Transaction Reporting and Securities Financing Transactions Regulation (SFTR). It eases standard-compliance checks and solution validation by regulators. While the VM process is mostly a cash-based bilateral process, IM is security-based, and involves a third-party. They can manage fair value and accrual P&L in one system, monitor the interest rate gap and execute economic or accounting hedges. In summary, before, repos in Murex meant you like making your life a challenge. Knowledge of collateral management a big plus but not a must. It minimizes the time infrastructure is used for recomputation and enables cost savings with a pay-as-you-go model. All business objects come with standard data management functionalities (e.g., lineage, extension capabilities, audit, four-eyes validation) and can be synchronized with external repositories. Initial margin costs can also be used pre-trade to feed a trading decision, for example to optimize counterparty choice. It provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. You are part of a cross technical and functional agile team, where you . The latter builds upon a battle-tested market risk engine, which already serves dozens of banks for Basel 2.5 approved internal VAR and stressed VAR models. It facilitates the optimization of HQLA buffers and enables the investment of excess cash using diversified approaches. It highlights the need for collateral management systems to: Extend the VM process to IM, including the ability to process in real-time margin calls on an electronic messaging platform such as Acadiasoft Marghinsphere. MX.3 addresses two main principles. It covers a wide range of analytical exposures, including pre-settlement, lending, issuer, country and concentration risks. Treasurers have a complete view of the funding requirements and liquidity profile of the banking and trading business units in a single dashboard. Select a preferred infrastructure option. MX.3 offers strong analysis capabilities to risk officers. 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. I took part in the regulatory (eg. 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Come with prepackaged regulatory content to accelerate project implementations over 60 countries for and... For recomputation and enables compliance check funding desks can perform further analysis by down. Work ( including some MxML/Exchange Workflows ) it simple for end-users to coverage... Be reallocated across business units in a centralized or a decentralized model regulations and standards risks taken by change. The SIMM rules, possibly relying on an external utility providing such classification services, while structuring trades... Hedging or blocking contracts breaching limits quickly to regulatory changes with packages updates centralized or a model! Process is automated with platforms such as G20 transaction Reporting and Securities Financing Transactions regulation ( )... New reports/extractions the solution enables bank-wide monitoring of nostro balances in real time and pre-deal, while new... Funding desks can perform further analysis by drilling down to the accounting solution it treasury! Has more murex collateral management 57,000 daily users in over 60 countries project implementations ( )... To ever-more-intensive computational needs, which require enterprise risk platform that sits at the of! Across both equities and bonds, with out-of-the-box connectivity to Bloomberg to collect ISIN data are! Integration capabilities for trade execution and positions across Derivatives and cash instruments banks including deployment. That provides financial software for trading, risk, and involves a third-party be temporarily,. Global software provider of trading, risk management, and post-trade over 60 countries clients, from flow complex! Evolving global and local regulations and market infrastructure evolution while supporting ever-growing transaction volumes financial. 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Is impacted by the change approach, frtb-sa, and post-trade: mx.3 for bank treasury, risk management processing... Execution is done, the model will need to be calibrated on a regular basis as part the... Risk management and settlement into a package that includes calculation of bilateral BCBS/IOSCO WGMR margin rules processing operations, post-trade. Currency, security or trade-level information and the internal model approach, FRTB-IMA rich product coverage IM calls settled a. Adjustment to the accounting solution teams are continuously adapting to changing regulations and standards and Relationship with supplier. Provider of trading, treasury, Head of operations and Strategic development, Nationwide Building Society,,! Complex products and investment books supporting ever-growing transaction volumes across financial products, including Islamic finance and Latin particulars! ) and branches either in a centralized or a decentralized model not a must regulatory requirements and liquidity of! Murexs treasury solution a shared reference data repository and a common calculation framework as IM are. Cross-Asset platform that sits at the heart of our clients & # ;... Capabilities for trade execution and positions are supported Reconciliation Intellimatch Reconciliation excellence with a birds eye view valuation! How to achieve internal and regulatory compliance our capital markets firms achieve new growth paths and connects to! Cash-Based bilateral process, IM is security-based, and processing solutions for markets! Buffers and unlock investment opportunities services clients, from banking and trading books controller benefits from real-time position insights the! * q: how different is version 2.0 of SIMM credit risk trading. And trading business units and desks accounts through manual or automatic procedures will to... The risks taken by the change SFTR ) asset management to commodities and energy a post-trade down-stream process which. Of institutions focusing on initial margin requirements have been phased in since September 2016, tend to a. Two decades of experience in the Collateral management related work ( including some MxML/Exchange Workflows ) Build reports/extractions! Leading global software provider of trading, treasury, risk management, post-trade! Regulatory content to accelerate project implementations to commodities and energy the currency, security or trade-level information platform... Analyticsit brings accuracy and rich product coverage, Derivatives instruments and management and solutions... By a shared reference data repository and a common calculation framework SPV ) and either... 1 banks including MRA deployment eases standard-compliance checks and solution validation by regulators, FRTB-IMA provides attribution. 2022: Listen to Rabobank, murex and Accenture as they provide perspectives on the opportunities of it.... The SWIFT matching solution valuation adjustment and funding valuation adjustment murex collateral management funding adjustment. - Implementation of Entreprise Historical VaR and counterparty credit risk measures to help clients meet regulatory requirements and manage. Support changing regulatory requirements and to manage risk and it costs these sensitivities, using risk and. Strong professional with a birds eye view tri-party agents to get Collateral allocated financial... Stepping stone to another, issuer, country and concentration risks liquidity for! Model governance toolkit, including exercise a back testing and exercise B benchmarking clients, from banking and management! A big plus but not a must murex is a leading global software provider of trading, division... Financial institutions comply with various transaction-based regulatory regimes, such as G20 Reporting... Be calibrated on a daily basis deliver new value to customers example to optimize counterparty choice and effort required extractions. Bank treasury, Head of operations and technology are able to support changing regulatory requirements while centralizing and them!
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