Improve efficiency and cost-effectiveness. Posted: February 28, 2023. Positions are natively represented to serve different business processes. Murex has over 2,500 team members across 19 locations who provide cutting-edge technology, superior customer service and unique product innovation. 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. All exposures can be checked against limits pre-trade and in real time to optimize decisions and reduce operational risk. Murex is a company that provides financial software for trading, treasury, risk, and post-trade operations for financial markets. 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. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Users are prompted for manual review and action only if an exception check fails. Central management enables consistent and efficient monitoring of intraday limit usage. Empower the buy side to manage positions, cash and securities inventories, and risk across asset classes in real-time with MX.3. 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. 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 gives a consolidated view of exposures across entities with incremental intraday variation computed in batch or in real-time. Experience of front to back/risk trade lifecycle, trade workflow, business functionality. It provides a common trade repository and valuation engine for front, risk, collateral and accounting to fulfill multiple regulatory requirements. Limits can be temporarily increased, or the limit line can be reallocated across business units and desks. 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. Build an overall strategy for regulatory compliance and internal risk management. This enables risk officers to get corrected figures efficiently and meet the deadline for official results. It enables end users to get figures analyzed efficiently and meet the deadline for official results sign-off. Maintained up to date through a local regulatory watch, it enables clients to adapt more quickly to regulatory changes and ensures that solutions support Basel standards exceptions. Head of Operations Head of finance Head Product Control Head of collateral Back-office analyst Data specialist Pamela Hacker Development/Support in Murex Collateral Management. Corporate and retail activities can be integrated in MX.3. The solution features an IFRS 9 compliant hedge accounting module that provides end-to-end management of both micro and macro hedging from real-time hedge proposition, designation to daily effectiveness measurement and impact on accounting results through reclassification entries. Murex is a long-term partner as it supports firms on their journey toward compliance and beyond to optimize processes and best practices. Security instruments: across both equities and bonds, with out-of-the-box connectivity to Bloomberg to collect ISIN data. Q: Are firms looking at initial margin as a post-trade down-stream process, or is it influencing trading decisions? The solution supports historical value at risk (VAR), expected shortfall, stress testing and profit and loss explanations. Address stringent regulatory requirements with integrated real-time liquidity, analytics, position and risk management. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. 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. To successfully compete, they must leverage technology and deliver new value to customers. 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. . Somaiya COE, Mumbai | Learn more about Sachin . 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. MX.3 offers an enterprise-wide solution for global credit risk management. Overview. It recognizes that collateral management has become very intertwined with many business functions within financial institutions. 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, Back-testing / Benchmarking: as part of this validation process, firms need to provide back-testing results for portfolios in scope, i.e. Its MX.3 platform is engineered to meet evolving challenges. Paris, London, Swindon Cowrie Financial Murex Practice Consultant . Central management enables consistent and efficient monitoring of intraday limit usage. 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. de 2016. Extend the usage of securities as collateral. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. Independent market data and models support an Independent Price Verification (IPV) framework. 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. At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution and deploy more modern credit limit management metrics. Operating from our 19 offices, 2400 Murexians from over 60 different nationalities ensure the development, implementation and support of our platform which is . Responsibilities. Control total cost of ownership. Murex Credit Risk and Collateral Management consultant Currently Collateral stream lead on a new front to back Murex Implementation in New York, managing a small team on the collateral. More than 100 clients worldwide use Murexs treasury solution. Manages report preparers, control and governance process Securitization and Equity RWA Manager - Basel III Director (Regulatory Reporting) Manages team of SMEs through quarterly and monthly. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. 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. Optimize High-quality liquid asset (HQLA) buffers and unlock investment opportunities. Additionally, the common technical framework ensures that consultants reuse existing skills to speed up FRTB-SA projects. [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. Regulations have had a dramatic impact across all business processes within capital markets. 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. Larger firms, for whom initial margin requirements have been phased in since September 2016, tend to have a more decentralised risk infrastructure. It interacts with third-party deal capture systems. Murex provides integrated trading, risk management and processing solutions for banks, asset managers, hedge funds, corporations and energy utilities. Aug 2013 - Jun 20162 years 11 months. 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. With a clear focus on openness through public APIs, smooth integration and digitalization use cases are enabled at lower cost within financial institutions ecosystems. Andy Haigh: Yes, specifically Murex's MX.3 Collateral Management module. Connect with key tri-party agents to get collateral allocated. MX.3 can be managed by the customer or delivered in SaaS by Murex. To analyze figures, credit risk officers take advantage of in-memory aggregation technology. The MX.3 multi-GAAP, multi-entity and multi-currency solution provides accurate financial information for all asset classes, leveraging front office and risk calculation engines for valuations, accruals, amortizations and hedge reclassifications. Murex helps capital markets firms achieve new growth paths and connects them to all participants. These firms might therefore need to have a decentralised way of managing SIMM, generating risk sensitivities across these systems. Nowadays, they are very simple, very easy to use with most if not all functions your repo desk will need. It is powered by a robust, high-volume infrastructure with a global real-time operating model. MX.3 can be deployed on-premises or on the cloud. Murex Recent Developments. Risk officers enjoy strong analysis capabilities and have full autonomy in calculation process correction. 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,. 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. Posted 9:29:01 PM. Treasurers have a complete view of the funding requirements and liquidity profile of the banking and trading business units in a single dashboard. The solution enables bank-wide monitoring of nostro balances in real time. 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. 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. MX.3 helps financial institutions comply with various transaction-based regulatory regimes, such as G20 Transaction Reporting and Securities Financing Transactions Regulation (SFTR). It provides critical pricing, desk management and accounting capabilities to hedge and optimize XVA costs. A cloud-friendly enterprise risk platform that covers cross-regulation requirements simplifies and speeds up compliance and reduces total cost. ), netting agreements. It supports trading, treasury, risk and post-trade operations to help clients meet regulatory requirements and to manage risk and IT costs. 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. MX.3 centralizes collateral processing across entities and business lines. Portfolio manager Risk Manager Trader Compliance officer Back-office analyst CTO Stephen Jones Head of Group Finance and BSM IT Momentum Metropolitan 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. 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. Out-of-the-box connectivity to reconciliation tools facilitates cash, security position and collateral exposure reconciliation. In each client jurisdiction, a local regulatory watch ensures those packages remain up-to-date with regulation changes. Refocus and expand business. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. These include potential future exposure (PFE) and expected exposure (EE). We have detailed how complex such a project is. 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. It specializes in all asset classes while managing collateral, margins, and OTC positions. 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. While the VM process is mostly a cash-based bilateral process, IM is security-based, and involves a third-party. 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. This rollout of PFE was made possible thanks to our partnership with Murex and its upgrade as a service. Break silos. 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. It enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. Mizuho Optimizes XVA Desk through MX.3 Extension. 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. Complementary to the on-premises deployment model, XVA solutions can leverage a version-agnostic business process as a service (BPaaS) offering for intensive computation. 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. I took part in the regulatory (eg. 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 proposes solutions for both the standardized approach, FRTB-SA, and the internal model approach, FRTB-IMA. This ensures high STP rates while controlling operational risk through dedicated dashboards, across all business lines and asset types, leveraging: Automatic assignment of standing settlement instructions (SSI), Multiple payment methods (e.g., gross, net, CLS, DVP, FOP, PVP, pre-delivery) and channels (e.g., SWIFT, over account, RTGS), Full support of the transition from SWIFT MT to SWIFT MX (i.e., ISO 20022), compliant with cross-border payments guidelines and local real-time gross settlement systems (e.g., TARGET2, CHAPS, FEDWIRE), 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. 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. Download the brochure: MX.3 for Bank Treasury, Head of Operations and Strategic Development, Nationwide Building Society, treasury division. Our clients have diverse requirements. Exceptions are handled manually from a dashboard with a birds eye view. Mizuho Optimizes XVA Desk through MX.3 Extension. 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. Funding desks can perform further analysis by drilling down to the currency, security or trade-level information. Murex helps capital markets firms achieve new growth paths and connects them to all participants. It offers a wide integration capability that enables a smooth fit within existing IT landscapes. The solution includes full access rights management and audit procedures. Comply with evolving global and local regulations and standards. A similar approach has been taken for FRTB-SA, FRTB-IMA, initial margin, SA-CCR and CVA capital charge. Cash collateral is provided to Eurex Clearing by way of full title transfer. The solution provides a complete view of the risks taken by the organization. A common data model allows the solutions to seamlessly interact with one another. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. 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. Knowledge of collateral management a big plus but not a must. These include limit suspension, trade hedging or blocking contracts breaching limits. MX.3 functional coverage meets them. Infrastructure provisioning linked to intraday corrections is optimized because of a surgical recomputation based on what is impacted by changes. Murex's modular platform includes products such as MX.3 for Risk Control and MX.3 for Collateral Management, both of which have won a growing following among customers that have begun to standardize on Murex's trading and risk management product portfolio.
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