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. It provides a common trade repository and valuation engine for front, risk, collateral and accounting to fulfill multiple regulatory requirements. Development of Collateral Management related work (including some MxML/Exchange Workflows). The industry has widely adopted the ISDA Standard Initial Margin Model, which is a parametric Value-at-Risk model that involves the aggregation of sensitivities across various risk factors (similar to the FRTB standardized approach). 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. Extend the usage of securities as collateral. 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. 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. Murex helps capital markets firms achieve new growth paths and connects them to all participants. greater new york city area. Firms need not only to implement these models, but also to go through a regulatory approval process across national regulators. It enables fast decision-making and reduces operational risk. "Legacy systems cannot adapt fast enough to . We see most challenges arising from the first and last piece of the process. ), netting agreements. Murex Collateral Workflow Resource. Not a specific collateral management activity but key for an efficient collateral management process Each party has its own version of a transaction in its system (sometimes even Operations teams are continuously adapting to changing regulations and market infrastructure evolution while supporting ever-growing transaction volumes across financial products. Seize market opportunities. 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. MX.3 addresses two main principles. Sibos 2022: Listen to Rabobank, Murex and Accenture as they provide perspectives on the opportunities of IT re-platforming. MX.3 offers a genuine end-to-end trade life cycle management with a high-performing straight-trough processing (STP) framework. Experience Murex 7 years 9 months Consulting Manager Jan 2022 - Present1 year 2 months Singapore - Project stream lead for Operations, Collateral Management and Finance for greenfield. Some clients are also looking at extending valuation adjustment capabilities to incorporate funding effects related to IM, in the Margin Valuation Adjustment (MVA). This is complemented by a real-time limit and exposure monitoring solution. It facilitates the transfer of funds between accounts through manual or automatic procedures. 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. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. Bank treasuries face enormous challenges as they cope with evolving standards and regulations. Treasurers have a complete view of the funding requirements and liquidity profile of the banking and trading business units in a single dashboard. The latest iteration of Murex's platform - MX.3 - provides advanced financial services that provide optimal strategies and power an institution's acceleration. Murexs ownership of this process allowed Banorte to focus on our own complete internal operating overhaul for setting up a dedicated XVA desk. Our client, a leading global bank, is searching for a Collateral Management Associate. Portfolio manager Risk Manager Trader Compliance officer Back-office analyst CTO Stephen Jones Head of Group Finance and BSM IT Momentum Metropolitan 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. Monitor exposure in real time and pre-deal. Posted 9:29:01 PM. Infrastructure provisioning linked to intraday corrections is optimized because of a surgical recomputation based on what is impacted by changes. Murex has today announced extended reconciliation functionality in its MX.3 collateral management offering, Murex Collateral Manager. Mizuho Optimizes XVA Desk through MX.3 Extension. From an implementation perspective, market risk capabilities (P&L, Value at Risk) need to be leveraged to pass the validation step, and monitoring procedures need to be established. Validation workflows that include the four-eyes principle can be applied to all changes made on reference data and limits. 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. Operations are no exception. Risk management. Operating from our 19 offices, 2400 Murexians from over 60 different nationalities ensure the development, implementation and support of our platform which is . It enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. Full-Time. 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. Banco de Crdito e Inversiones - Chile, Calypso project ene. Andy Haigh: Yes, specifically Murex's MX.3 Collateral Management module. Optimize profitability and risk management of your lending activity, manage your liabilities funding cost and trading cost of funds. 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). The solution enables bank-wide monitoring of nostro balances in real time. Central management enables consistent and efficient monitoring of intraday limit usage. 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. Build an overall strategy for regulatory compliance and internal risk management. Short-term funding desks have tools to book and manage deposits, commercial papers, certificate of deposits, repos, reverse repos and more. Murex has more than 57,000 daily users in over 60 countries. Murex Consultant at Dutch Pension Group - MX3 Collateral Management Module Implementation Initial Workshops | Scoping | Analysis | Design | Build | Testing | Murex Agile Methodology Murex. simulate SIMM on past data to gauge its accuracy and effectiveness. Trade level CVA and FVA can be allocated to the proper unit of account. Our future-ready solutions include system transformation, DevOps enablers, cloud, continuous testing, upgrades and managed services. Select a preferred infrastructure option. Banks implement either standardized or internal models for market and credit risk to reduce capital costs (e.g., FRTB-IMA, SA-CVA, etc.). Dania Fakredin-Viatte Co-Founder at DayOm Paris. Answer (1 of 3): Three options: 1- get hired by Murex: they have offices throughout the world (Paris, New York, Beirut, Singapore, Sao Paolo, Shangai, ). Regulations have had a dramatic impact across all business processes within capital markets. It proposes solutions for both the standardized approach, FRTB-SA, and the internal model approach, FRTB-IMA. As a back-office user, the processing work is reduced to the minimum with a high degree of automation from matching to clearing and settlement. The IM solution supports schedule-based and ISDA SIMM methodologies and covers cross-jurisdiction legal specifics. 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. Overview Our Software Murex and the Cloud What We Think Case Studies Overview The Test engineer applies the Murex test processes to ensure that a client instance meets its LinkedIn. MX.3 has helped numerous financial institutions across the globe to be compliant on time, while unleashing new business opportunities. It is very flexible. Murex delivers smart technology to capital markets. The solution provides a complete view of the risks taken by the organization. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Murex helps capital markets firms achieve new growth paths and connects them to all participants. To unlock trapped collateral and manage it more effectively for UMR, firms need data to be co-ordinated in real-time, Farhat believes. #murex #riskmathics #latam #fintech #traditionalbanking . 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. 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,. More than ever, a bank must secure diversified funding sources, review pricing rules and implement tighter risk, liquidity and collateral controls. What are the New Trading Trends and Opportunities in 2023? This flexible solution enables Murex clients to benefit from continuously improved functionalities without having to upgrade their own MX.3 solution. Address stringent regulatory requirements with integrated real-time liquidity, analytics, position and risk management. 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. The solution can be implemented all at once or incrementally at a staggered pace where and when it makes organizational sense. 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 . 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. This. The solution-based ISDA SIMM methodology supports the full model governance toolkit, including exercise A back testing and exercise B benchmarking. Learn more about how to achieve internal and external business process digitalization. MX.3 helps financial institutions comply with various transaction-based regulatory regimes, such as G20 Transaction Reporting and Securities Financing Transactions Regulation (SFTR). 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.) Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. It is a great tool for collateral management or for triparty repos where you can import the actual position at the end of the day. Its powerful Monte Carlo engine simulates counterparty credit risk measures. It enables end users to get figures analyzed efficiently and meet the deadline for official results sign-off. Overview. 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. Ensure financial resilience. It supports historical value at risk (VAR), expected shortfall, stress testing and profit and loss explanations, all of which can be computed both with full revaluation as well as Taylor-based calculations. Optimize High-quality liquid asset (HQLA) buffers and unlock investment opportunities. It is a great tool for collateral management or for triparty repos where you can import the actual position at the end of the day. 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). P&L and P&L attribution can be validated altogether, with trader sign-off and official reference P&L crystalized and published to trading, risk and for sub-ledger reconciliation. and business. 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. Learn more in an introductory video. Overview. Participated in the Implementation of Murex Collateral Management System. To analyze figures, credit risk officers take advantage of in-memory aggregation technology. MX.3 empowers institutions with a single repository for trades, orders, positions and reference data, based on a few core foundations: MX.3 features a multi-source, multi-entity, connected global repository supporting our clients current and future operating models; it seamlessly supports back-to-back trades, risk allocation, and inter-entity structures. MX.3s fully integrating platform model enables streamlined collaboration across all departments. Connect with key tri-party agents to get collateral allocated. 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. Funding desks can perform further analysis by drilling down to the currency, security or trade-level information. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. 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. Achieve regulatory compliance. Murex helps capital markets firms achieve new growth paths and connects them to all participants. This allows for an accurate calculation of exposure-at-default (EAD) and a global optimization of the capital charge at the enterprise level. 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. In October 2021, Murex's MX.3 platform was implemented at . It eliminates unnecessary reconciliation between the front and back offices. Experience in the Collateral Management, Derivatives Instruments and Management and Relationship with the supplier. It is a three-step process: Sensitivities generation, across various asset classes and products. Powerful KPI reporting for operational risk control and regulatory indicators is provided, as well as statistics on time-to-match, time-to-clear. . The solution supports full management of limit excesses, whether caused by intraday activity or end-of-day batch. Aujourd'hui, 2 500 experts de plus de 60 nationalits rpartis sur 19 bureaux travers le monde, rpondent aux problmatiques critiques de 57 000 utilisateurs aux quatre coins du globe. Due to high accuracy and full coverage of risk-weighted assets (RWA) across multiple jurisdictions, this end-to-end solution enables strong capital payback. The technology retains full representation of underlying financial contracts, maximizing credit risk officer analysis capacity in a constrained timeframe. It provides accurate credit risk measures (e.g., issuer lending, notional, pre-settlement, settlement)across all asset classes. More than 100 clients worldwide use Murexs treasury solution. Each regulatory solution is a stepping stone to another. Download the brochure: MX.3 for Bank Treasury, Head of Operations and Strategic Development, Nationwide Building Society, treasury division. 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. It eases standard-compliance checks and solution validation by regulators. Our clients have diverse requirements. With MX.3, the product control department can manage entity and group consolidated official P&L and P&L attribution cross-asset, across the trading and banking books. Luxoft 4.5. 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. 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. It covers standard agreements such as CSA, CSD, SCSA, GMRA and GMSLA. Murex is a long-term partner as it supports firms on their journey toward compliance and beyond to optimize processes and best practices. MX.3 functional coverage meets them. 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. Second, it provides control,with tools to monitor and act on exceptions along with a cradle-to-grave audit trail. 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. 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). The system relies on its generic workflow framework handling, transactions, settlements, static data and more: It is real time to minimize processing time. It automates and controls the banks value chain. 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. MX.3 offers a multi-GAAP, multi-entity and multi-currency accounting ledger for trades and positions across derivatives and cash instruments. From their day-to-day screen, they can slice and dice and drill down to the finest calculation inputs without recalculation. MX.3 functional coverage meets them. Paris, London, Swindon Cowrie Financial Murex Practice Consultant . Murex helps capital markets firms achieve new growth paths and connects them to all participants. So it should not be underestimated. Operating from our 18 offices, 2400 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 worldwide. 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? 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. 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. 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