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. All rights reserved 4 5. Consistency is enforced by a shared reference data repository and a common calculation framework. Murex is a leading global software provider of trading, risk management, processing operations, and post-trade solutions for capital markets. This report examines top innovative trends in collateral management adopted by central banks, institutions managing banking books and trading books, and the buy-side. Murex has today announced extended reconciliation functionality in its MX.3 collateral management offering, Murex Collateral Manager. It eases standard-compliance checks and solution validation by regulators. Operating from our 19 offices, 2400 Murexians from over 60 different nationalities ensure the development, implementation and support of our platform which is . 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. In short, to ensure that collateral operations and technology both support these regulatory margin requirements using the SIMM, and to be ready by the deadline, financial institutions need to look at the collateral management process front to back and holistically, across these several dimensions, and make sure an appropriate level of governance is put in place. Murex Collateral Workflow Resource. To successfully compete, they must leverage technology and deliver new value to customers. The complexity of these risks leads to ever-more-intensive computational needs, which require enterprise risk management software. We provide end-to end project services and have delivered over 200 successful Murex projects across all major asset-classes and sectors including investment banking, asset management, corporate treasury and insurance. To meet the growing demand for our First Derivative services, we are looking to hire a Murex Business Analyst in South Africa to work with our production support and development team. Provide capabilities to output various types of sensitivities delta, vega, curvature. 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. Mizuho Optimizes XVA Desk through MX.3 Extension. MX.3 offers an end-to-end enterprise-wide solution used by more than 120 customers across all tiers to meet regulatory requirements. Learn more about how to achieve internal and external business process digitalization. Banco Galicia Collateral Management jul. MX.3 provides enterprise solutions that allow banks to control market, credit, and liquidity risk for internal and regulatory compliance. The custodian is then automatically notified through SWIFT. MX.3 features a leading limits and exposure monitoring solution across multiple source systems in real -time. 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Limits can be temporarily increased, or the limit line can be reallocated across business units and desks. Integrate front-to-back-to-risk offices. 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. #fintech #technology #DigitalBanking. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. 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. High-throughput integration capabilities for trade execution and positions are supported. 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. 04 Aug 2022. Build Accurate Rate Curves in an Inflationary Context. Development/Support in Murex Collateral Management. MX.3 functional coverage meets them. Simultaneously, achieving cost savings and control of operational risks is a conundrum. It enables fast decision-making and reduces operational risk. Format results as per the standard ISDA CRIF (Common Risk Interchange Format). 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. Andy Haigh: Yes, specifically Murex's MX.3 Collateral Management module. cross-currency swaps). Positions are natively represented to serve different business processes. Exceptions are handled manually from a dashboard with a birds eye view. It enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. Validation workflows that include the four-eyes principle can be applied to all changes made on reference data and limits. Paris, London, Swindon Cowrie Financial Murex Practice Consultant . MX.3 helps control capital costs. Overview. These include limit suspension, trade hedging or blocking contracts breaching limits. It facilitates the optimization of HQLA buffers and compliance checking. and business. The solution features an automated framework for collateral processing that covers margining, allocation, dispute, substitution, cash and securities settlement, and accounting. The MX.3 enterprise market risk solution provides a complete view of risks across the organization. It proposes solutions for both the standardized approach, FRTB-SA, and the internal model approach, FRTB-IMA. The XVA solution provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. The solution provides a complete view of the risks taken by the organization. From their day-to-day screen, they can slice and dice and drill down to the finest calculation inputs, such as trades, sensitivities, reference data and scenarios. The latest iteration of Murex's platform - MX.3 - provides advanced financial services that provide optimal strategies and power an institution's acceleration. Operational efficiency can be maximized with bilateral and cleared relationships seamlessly managed within one system. It automates the entire calculation chain with the full data set to improve accuracy. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. 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. We are a top-tier Murex Alliance Partner and a market leader in implementation, integration, upgrade and migration. 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.) In each client jurisdiction, a local regulatory watch ensures those packages remain up-to-date with regulation changes. 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). Q: Are firms looking at initial margin as a post-trade down-stream process, or is it influencing trading decisions? Short-term funding desks have tools to book and manage deposits, commercial papers, certificate of deposits, repos, reverse repos and more. 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. With automated and integrated business processes, including trade management, document management, risk calculation, reporting and sub-ledger functionality, this solution helps reduce operational risk by providing: Smart designation of hedges by traders and product control with pre-defined strategies, Specific events (e.g., de-designation, rebalancing, refresh) with a full audit trail, Retrospective and prospective effectiveness measurements using various qualitative and quantitative methods, Dashboard to monitor effectiveness and P&L impacts of designated hedges, Automatic generation of documentation with hedge characteristics, A process for bucketing macro-hedge relationship flows and optimization of asset and liability usage, Prepackaged and customizable hedge accounting schemas, dedicated reporting tools and live screen reporting. Multiple relational database management systems (RDBMS) choices are available between Microsoft SQL Server, SAP ASE or Oracle. Powerful KPI reporting for operational risk control and regulatory indicators is provided, as well as statistics on time-to-match, time-to-clear. The technology retains full representation of underlying financial contracts, maximizing credit risk officer analysis capacity in a constrained timeframe. 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. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. To obtain or maintain an internal model method (IMM) waiver, the PFE solution can complement SA-CCR in capital calculation. Rahba: First and foremost, firms need to be regulatory compliant by exchanging margins on a daily basis. 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. 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: It interacts with third-party deal capture systems. 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. de 2019 - feb. de 2020. 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. MX.3 offers strong analysis capabilities to risk officers. MX.3 functional coverage meets them. Holiday calendars: with connectivity to market utilities such as Swaps Monitor. To analyze figures, credit risk officers take advantage of in-memory aggregation technology. 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. 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). 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. It facilitates the optimization of HQLA buffers and enables the investment of excess cash using diversified approaches. Nos vemos en CDMX entre el 7-9 Marzo!. Alternatively, it can be provided via the triparty collateral management systems CmaX (CBL). Key Responsibilities Inspect system generated collateral calls for accuracy prior to making margin calls. The SA-CCR solution includes necessary documents to reduce documentation efforts for clients. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. . The solution supports full management of limit excesses, whether caused by intraday activity or end-of-day batch. Consent * 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. Leverage innovation, scale and amplify with the power of the cloud. Dedicated alliance managers define relevant strategies with system integrators, connectivity partners, technology partners and industry associations across all regions. So it should not be underestimated. The solution supports local and specific conventions across markets worldwide, including Islamic finance and Latin America particulars, among others. #murex #riskmathics #latam #fintech #traditionalbanking . These include limit suspension, trade hedging or blocking contracts breaching limits. MX.3 can be deployed on-premises or on the cloud. Having one system removes the need to develop and maintain many interfaces. 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. It supports trading, treasury, risk and post-trade operations to help clients meet regulatory requirements and to manage risk and IT costs. P&L attribution can be done cross-asset with segregation of different explanation reasons, such as time, market data and life cycle changes. AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment . The solutions powerful workflow framework for trade, settlement and confirmation processes produces extremely high level of automation along the entire value chain. MUREX MX.3 software handles all aspects of derivatives and cash management trading and processing for Banks, Buy Side, Clearing CCP's, Energies, and Corporates. 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? 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 Murex has more than 57,000 daily users in over 60 countries. 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. Download the brochure: MX.3 for Operations and Finance. We see most challenges arising from the first and last piece of the process. New York, NY. Murex Collateral Workflow Resource. Comply with evolving global and local regulations and standards. 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. MX.3 centralizes the processing and reporting of trades, positions, margin calls and settlements across all instrument types, trading sources and settlement routes. 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. Seamlessly connect in batch and real time. Murex provides integrated trading, risk management and processing solutions for banks, asset managers, hedge funds, corporations and energy utilities. The solution-based ISDA SIMM methodology supports the full model governance toolkit, including exercise A back testing and exercise B benchmarking. To unlock trapped collateral and manage it more effectively for UMR, firms need data to be co-ordinated in real-time, Farhat believes. Treasurers have a complete view of the funding requirements and liquidity profile of the banking and trading business units in a single dashboard. Murex Specialist at iNovoTek Solutions United Kingdom. Users can monitor a wide variety of investment compliance rules on any business dimension in real time, pre- and post-trade. Fully managed by Murex, the solution leverages a shared and elastic infrastructure. This. Regulatory and market evolutions require risk managers to monitor more granular and diversified types of risks. Connect with key tri-party agents to get collateral allocated. MX.3 helps anticipate the market by applying market data scenarios, shifting horizon, running stress tests and executing what-if simulations. The XVA solution provides a complete view of the funding requirements and to manage risk it! Maintain an internal model approach, FRTB-SA, and post-trade risk Interchange format ) used by than. Compete, they must leverage technology and deliver new value to customers complement SA-CCR in capital calculation Practice.. Facilitates the optimization of HQLA buffers and enables the investment of excess cash using approaches! 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