This rollout of PFE was made possible thanks to our partnership with Murex and its upgrade as a service. #fintech #technology #DigitalBanking. Innovate and improve customer experience and personalization. MX.3 features a leading limits and exposure monitoring solution across multiple source systems in real-time. Select a preferred infrastructure option. Regulations have had a dramatic impact across all business processes within capital markets. Build Accurate Rate Curves in an Inflationary Context. Regardless of whether MX.3 is used as an end-to-end enterprise solution or a building block, its integration capabilities enable straightforward integration into an existing system landscape. 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. 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. Be flexible enough to cater for SIMM specifics on top of an existing usage (e.g. The MX.3 enterprise market risk solution provides a complete view of risks across the organization. simulate SIMM on past data to gauge its accuracy and effectiveness. 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. Murex Consultant at Dutch Pension Group - MX3 Collateral Management Module Implementation Initial Workshops | Scoping | Analysis | Design | Build | Testing | Murex Agile Methodology Murex. 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. Provide capabilities to output various types of sensitivities delta, vega, curvature. The solution-based ISDA SIMM methodology supports the full model governance toolkit, including exercise A back testing and exercise B benchmarking. 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. Skilled in Murex Collateral Management, Integration, MxML, BO, SWIFT, Confirmations and Notification. MX.3 functional coverage meets them. Q: Are firms looking at initial margin as a post-trade down-stream process, or is it influencing trading decisions? Learn more about the event here: http://bit.ly/3XITM8J Firms need not only to implement these models, but also to go through a regulatory approval process across national regulators. It facilitates the optimization of HQLA buffers and enables the investment of excess cash using diversified approaches. High-throughput integration capabilities for trade execution and positions are supported. The latest iteration of Murex's platform - MX.3 - provides advanced financial services that provide optimal strategies and power an institution's acceleration. Build an overall strategy for regulatory compliance and internal risk management. It enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. MUREX optimizes and integrates trading, risk management and settlement into a package that . In each client jurisdiction, a local regulatory watch ensures those packages remain up-to-date with regulation changes. Banco de Crdito e Inversiones - Chile, Calypso project ene. Used by more than 200 customers across all tiers, MX.3 offers end-to-end enterprise-wide and cross-asset solutions covering over 300 payoffs. 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). Responsibilities. Infrastructure provisioning linked to intraday corrections is optimized because of a surgical recomputation based on what is impacted by changes. 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.3 evolves with accounting market practices and its integrated nature allows any new products to be easily handled and speedily released to trading teams. 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. We can see that multiple departments are thus impacted including front office, collateral management operations, risk and legal departments. A cloud-friendly enterprise risk platform that covers cross-regulation requirements simplifies and speeds up compliance and reduces total cost. This report examines top innovative trends in collateral management adopted by central banks, institutions managing banking books and trading books, and the buy-side. It is exception-based. 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. <br><br> SME in OTC Derivatives' - Credit, FX and Rates - related events and lifecycle management<br> Experienced . They can manage fair value and accrual P&L in one system, monitor the interest rate gap and execute economic or accounting hedges. The platform empowers leading teams to streamline standard and bespoke processes across all product types in a 24/7 trading world. 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. MX.3 is a scalable, multi-entity platform. It enables treasury management for subsidiaries, special purpose vehicle (SPV) and branches either in a centralized or a decentralized model. This enables risk officers to get corrected figures efficiently and meet the deadline for official results. Murex supports diverse financial services clients, from banking and asset management to commodities and energy. 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. 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. These include potential future exposure (PFE) and expected exposure (EE). 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 . We are expecting updates of this model on a yearly basis, meaning new parameters as part of this calibration exercise, and feedback from market participants, as well as a methodology review. At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution and deploy more modern credit limit management metrics. Click here FormGroup-1 * First Name * Last Name * Job Title * Company * Email * Country FormGroup-3 Do You Have a Project? Dania Fakredin-Viatte Co-Founder at DayOm Paris. The solution covers credit valuation adjustment (CVA), debt valuation adjustment (DVA), funding valuation adjustment (FVA), initial margin valuation adjustment (MVA) and capital valuation adjustment (KVA). Overview Our Software Murex and the Cloud What We Think Case Studies Overview Remote. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. and business. It enables fast decision-making and reduces operational risk. [1] Murex was founded in 1986 in Paris by Laurent Nel and Salim Edde, who were soon followed by Salim's three brothers and his brother-in-law. de 2016. It facilitates proper risk management, transparency and governance. 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 near 30 years. The solution supports local and specific conventions across markets worldwide, including Islamic finance and Latin America particulars, among others. Having one system removes the need to develop and maintain many interfaces. These include limit suspension, trade hedging or blocking contracts breaching limits. MX.3 includes an XVA management solution. 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. Murex Information We are the long-term technology partner for the capital markets, working with financial institutions in over 60 countries to adapt and evolve their IT systems. This new version has been in effect since the end of 2017. It supports trading, treasury, risk and post-trade operations to help clients meet regulatory requirements and to manage risk and IT costs. 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. This allows for an accurate calculation of exposure-at-default (EAD) and a global optimization of the capital charge at the enterprise level. 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 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. Murex is a long-term partner as it supports firms on their journey toward compliance and beyond to optimize processes and best practices. With a clear focus on openness through public APIs, smooth integration and digitalization use cases are enabled at lower cost within financial institutions ecosystems. Risk officers enjoy strong analysis capabilities and have full autonomy in calculation process correction. 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. Rahba: Lets look at the end-to-end process of getting IM calls settled on a daily basis. To successfully compete, they must leverage technology and deliver new value to customers. More than 100 clients worldwide use Murexs treasury solution. Participated in the Implementation of Murex Collateral Management System. Multiple payment methods (e.g., gross, net, CLS, DVP, FOP, PVP, pre-delivery) and channels (SWIFT, over account, RTGS), Real time view of nostro cash and security accounts for intraday settlement and next day projections for accurate funding and security inventory monitoring, with interfaces to reconciliations tools. Financial institutions have entered a digital race. Extend the usage of securities as collateral. These include limit suspension, trade hedging or blocking contracts breaching limits. MX.3 helps financial institutions comply with various transaction-based regulatory regimes, such as G20 Transaction Reporting and Securities Financing Transactions Regulation (SFTR). 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 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,. It offers a wide integration capability that enables a smooth fit within existing IT landscapes. MX.3 is delivered with standard out-of-the-box processes, which can be customized to fit the target operational process of the institution. Somaiya COE, Mumbai | Learn more about Sachin . 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. MX.3 maximizes STP, decreases operational risk, and enhances operational control. Market conditions demand prioritized bank focus on treasury departments. ), netting agreements. 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. 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. 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. MX.3 achieves Fundamental Review of the Trading Book (FRTB) compliance. Firms will need to be able to comply with these basic SIMM calculation models, and methodology reviews, and maintain these calculation calibrations on a yearly basis. Operational efficiency can be maximized with bilateral and cleared relationships seamlessly managed within one system. It covers standard agreements such as CSA, CSD, SCSA, GMRA and GMSLA. MX.3 streamlines the full hedge accounting process end-to-end, be it micro-hedge or macro-hedge, with a broad coverage of hedge types (e.g., fair value hedge, cash flow hedge, net investment in foreign currency hedge). MX.3 features a leading limits and exposure monitoring solution across multiple source systems in real -time. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. The solutions support variations to the Basel standards and enable clients to adapt more quickly to regulatory changes with packages updates. Corporate and retail activities can be integrated in MX.3. Connect with key tri-party agents to get collateral allocated. Additionally, the common technical framework ensures that consultants reuse existing skills to speed up FRTB-SA projects. The solution enables bank-wide monitoring of nostro balances in real time. 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