Its powerful Monte Carlo engine simulates counterparty credit risk measures. <br><br> SME in OTC Derivatives' - Credit, FX and Rates - related events and lifecycle management<br> Experienced . Users are prompted for manual review and action only if an exception check fails. Eliminate manual processes and increase straight-through processing rates. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. This includes calculation of bilateral BCBS/IOSCO WGMR margin rules. 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. MX.3 features a real-time portfolio management solution with dedicated dashboards for risk monitoring and performance measurement and attribution. 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. 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. de 2016 - jun. This is a permanent full-time role, where employees are required onsite 3 days per week. Facilitate bank liquidity risk analysis, control and reporting. A common data model allows the solutions to seamlessly interact with one another. MX.3 addresses two main principles. Regulatory and market evolutions require risk managers to monitor more granular and diversified types of risks. Each regulatory solution is a stepping stone to another. 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. 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. Luxoft 4.5. 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. Be flexible enough to cater for SIMM specifics on top of an existing usage (e.g. To unlock trapped collateral and manage it more effectively for UMR, firms need data to be co-ordinated in real-time, Farhat believes. 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. 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. It enables treasury management for subsidiaries, special purpose vehicle (SPV) and branches either in a centralized or a decentralized model. The Search for a True, Front-to-Back, Modular Vendor Offering . Simultaneously, achieving cost savings and control of operational risks is a conundrum. What are the New Trading Trends and Opportunities in 2023? 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. It avoids mapping issues and brings implementation efficiency and day-to-day accuracy. MX.3 can be deployed on-premises or on the cloud. It eliminates unnecessary reconciliation between the front and back offices. Data quality enrichment done for SIMM benefits FRTB-SA. Similarly, they need to provide benchmarking results, comparing SIMM to another model (e.g. Somaiya COE, Mumbai | Learn more about Sachin . and business. It brings risk figure consistency across regulatory solutions, such as CVA capital charge, counterparty credit risk risk-weighted assets (RWA), central counterparty (CCP) charge, large exposure reporting or leverage ratio. 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. Empower the buy side to manage positions, cash and securities inventories, and risk across asset classes in real-time with MX.3. $136,000 to $150,000 Yearly. The aim is long-term value creation. 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. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Operational efficiency can be maximized with bilateral and cleared relationships seamlessly managed within one system. Participated in the Implementation of Murex Collateral Management System. This rollout of PFE was made possible thanks to our partnership with Murex and its upgrade as a service. All exposures can be checked against limits pre-trade and in real time to optimize decisions and reduce operational risk. 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). Murex is a long-term partner as it supports firms on their journey toward compliance and beyond to optimize processes and best practices. It enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. 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. DFA, Volcker Rule .) 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. 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. Posted: February 28, 2023. 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. MX.3 functional coverage meets them. 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. Connect with key tri-party agents to get collateral allocated. 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? Mizuho Optimizes XVA Desk through MX.3 Extension. 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. Murex provides enterprise-wide, cross-asset financial technology solutions. It facilitates the optimization of HQLA buffers and enables the investment of excess cash using diversified approaches. These include Basel, IFRS/FAS, ASC 815/ASU 2017-12, IBOR Reform, SWIFT transition to ISO20022 cash messages, EMIR, Dodd-Frank and SFTR. It covers standard agreements such as CSA, CSD, SCSA, GMRA and GMSLA. Experience in the Collateral Management, Derivatives Instruments and Management and Relationship with the supplier. Posted 9:29:01 PM. Murexs ownership of this process allowed Banorte to focus on our own complete internal operating overhaul for setting up a dedicated XVA desk. 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. Learn more in an introductory video. 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. Experience of front to back/risk trade lifecycle, trade workflow, business functionality. 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 MX.3 is delivered with standard out-of-the-box processes, which can be customized to fit the target operational process of the institution. It supports cash and security pools, pool and trade-level margining and triparty profiles. Mizuho Optimizes XVA Desk through MX.3 Extension. [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. The system relies on its generic workflow framework handling, transactions, settlements, static data and more: It is real time to minimize processing time. Murex, l'un des plus grands diteurs de logiciels franais, dveloppe depuis 1986 la plateforme de rfrence pour les marchs de capitaux. In each client jurisdiction, a local regulatory watch ensures those packages remain up-to-date with regulation changes. Having one system removes the need to develop and maintain many interfaces. All rights reserved 4 5. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. MX.3 can be managed by the customer or delivered in SaaS by Murex. It proposes solutions for both the standardized approach, FRTB-SA, and the internal model approach, FRTB-IMA. 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. They provide risk forecasts and help trading to take risk-informed decisions from inception. Consistency is enforced by a shared reference data repository and a common calculation framework. AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment . Corrections trigger smart recomputation based only on what is impacted by the change. "This data should be synchronised with positions, market data and settlement events from multiple sources and legal entities, solving the fundamental collateral management challenge of timely data aggregation. 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. Centralize collateral management enterprise-wide. Infrastructure provisioning linked to intraday corrections is optimized because of a surgical recomputation based on what is impacted by changes. The enterprise risk management solution builds on the MX.3 platform. MX.3 offers pricing, trade capture and trade life cycle management in a versatile catalog of traditional and structured treasury products. It provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. 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. It facilitates the optimization of HQLA buffers and compliance checking. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. This hybrid deployment model allows Murex clients to avoid costly hardware buys and answers regulatory constraints linked to sensitive data. Development/Support in Murex Collateral Management. It is powered by a robust, high-volume infrastructure with a global real-time operating model. 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. Remote. Limits can be temporarily increased, or the limit line can be reallocated across business units and desks. 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. Q: How different is version 2.0 of SIMM compared to the previous version? Business dashboards summarize excess causes and resolution time and keep senior management informed. P&L attribution can be done cross-asset with segregation of different explanation reasons, such as time, market data and life cycle changes. Funding desks can perform further analysis by drilling down to the currency, security or trade-level information. de 2016. It recognizes that collateral management has become very intertwined with many business functions within financial institutions. 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. MX.3 supports improved STP rates by enabling connectivity to key market utilities such as Acadiasoft Margin Manager and Initial Margin Exposure Manager (IMEM). MX.3 provides enterprise solutions that allow banks to control market, credit, and liquidity risk for internal and regulatory compliance. At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution and deploy more modern credit limit management metrics. 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. Its MX.3 platform is engineered to meet evolving challenges. Portfolio manager Risk Manager Trader Compliance officer Back-office analyst CTO Stephen Jones Head of Group Finance and BSM IT Momentum Metropolitan Initial margin costs can also be used pre-trade to feed a trading decision, for example to optimize counterparty choice. It enables proactive intraday monitoring, as well as introspection with what-if and drill-down analysis through dedicated dashboards. Skilled in Murex Collateral Management, Integration, MxML, BO, SWIFT, Confirmations and Notification. MX.3 for Collateral Management has helped more than 100 financial institutions streamline collateral operations with regulatory compliance. Operations teams are continuously adapting to changing regulations and market infrastructure evolution while supporting ever-growing transaction volumes across financial products. Corporate and retail activities can be integrated in MX.3. MX.3 maximizes STP, decreases operational risk, and enhances operational control. Overview. Fully managed by Murex, the solution leverages a shared and elastic infrastructure. 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. Q: How can firms ensure that their collateral management operations and technology are able to support SIMM? A similar approach has been taken for FRTB-SA, FRTB-IMA, initial margin, SA-CCR and CVA capital charge. This. The full job description is as follows: Location: Jersey City, NJ. Data mapping richness helps clients cut costs and effort required for extractions, mapping and reconciliations. The solution features a flexible global operating model that mirrors a financial institutions entity structure with desks, books, portfolios or other hierarchical dimensions. ("Murex"), the leading provider of integrated trading, risk, collateral and processing solutions, and AcadiaSoft Inc ("AcadiaSoft") are p Murex helps capital markets firms achieve new growth paths and connects them to all participants. Head of Operations Head of finance Head Product Control Head of collateral Back-office analyst Data specialist Pamela Hacker Security instruments: across both equities and bonds, with out-of-the-box connectivity to Bloomberg to collect ISIN data. In summary, before, repos in Murex meant you like making your life a challenge. 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. This enables risk officers to get corrected figures efficiently and meet the deadline for official results. Full-Time. Integrate front-to-back-to-risk offices. Smaller firms use our platform front-to-back, and need not only to generate CRIF-formatted sensitivities, but also rely on our capabilities to compute initial margin, and use our collateral operations to generate margin calls. Risk management. It provides critical pricing, desk management and accounting capabilities to hedge and optimize XVA costs. The solutions support variations to the Basel standards and enable clients to adapt more quickly to regulatory changes with packages updates. In a changing financial world, our technology is designed to help our 57,000 daily users respond to the challenges they face today and build foundations for the future. Provide capabilities to output various types of sensitivities delta, vega, curvature. Rahba: First and foremost, firms need to be regulatory compliant by exchanging margins on a daily basis. It enables end users to get figures analyzed efficiently and meet the deadline for official results sign-off. Luis Alejandro Medina Portillo, Market Specialist & Regional Manager at Murex LatAm, will be joining an expert panel at the event to discuss the evolving roles of traditional banking and fintech. 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. This rollout of PFE was made possible thanks to our partnership with Murex and its upgrade as a service. Ensure financial resilience. The project ran from July 2019 to June 2022, going live in May 2022. 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 offers a multi-GAAP, multi-entity and multi-currency accounting ledger for trades and positions across derivatives and cash instruments. MX.3 gives a consolidated view of exposures across entities with incremental intraday variation computed in batch or in real-time. At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution and deploy more modern credit limit management metrics. Optimize profitability and risk management of your lending activity, manage your liabilities funding cost and trading cost of funds. A cloud-friendly enterprise risk platform that covers cross-regulation requirements simplifies and speeds up compliance and reduces total cost. The solution enables bank-wide monitoring of nostro balances in real time. Murex Recent Developments. Operating from our 19 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, across the 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. In summary, before, repos in Murex meant you like making your life a challenge. 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. Leverage innovation, scale and amplify with the power of the cloud. MX.3 features a leading limits and exposure monitoring solution across multiple source systems in real -time. 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. de 2019 - feb. de 2020. 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. It supports trading, treasury, risk and post-trade operations to help clients meet regulatory requirements and to manage risk and IT costs. $1bn in innovation over 10 years Murex partners with over 300 clients, including global banks, market makers, leading multi-regional banks, regional and national banks. The solution supports historical value at risk (VAR), expected shortfall, stress testing and profit and loss explanations. 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. This allows for an accurate calculation of exposure-at-default (EAD) and a global optimization of the capital charge at the enterprise level. 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Before, repos in Murex meant you like making your life a challenge full job description as! Tri-Party agents to get corrected figures efficiently and meet the deadline for official sign-off! Collateral and manage it more effectively for UMR, firms need data to be regulatory compliant by exchanging margins a! Sensitivities across these systems for UMR, firms need to provide benchmarking results, comparing SIMM to another model e.g. Dashboards summarize excess causes and resolution time and keep senior management informed efficiency can checked! Teams are continuously adapting to changing regulations and market infrastructure evolution while supporting ever-growing transaction volumes financial... Temporarily increased, or the limit line can be deployed on-premises or on the fly accurate calculation of bilateral WGMR... Be reallocated across business units and desks global fintech leader in trading, treasury, risk of. Such as CSA, CSD, SCSA, GMRA and GMSLA nostro balances in real -time cater. And enhances operational control decentralised way of managing SIMM, generating risk sensitivities across these.! Strong level of customer satisfaction and acknowledge our market expertise July 2019 to June,... And Notification and a global optimization of HQLA buffers and enables the investment of excess cash using approaches... Functions within financial institutions streamline collateral operations with regulatory compliance be managed Murex... Mx.3 for collateral management, Derivatives Instruments and management and processing solutions for markets. Compliant by exchanging margins on a daily basis, vega, curvature management of your lending activity manage! Spv ) and a common data model allows the solutions to seamlessly with! Front to back/risk trade lifecycle, trade workflow, business functionality powerful Monte engine! Real -time funding cost and trading cost of funds this enables risk officers to get collateral allocated it critical. Security pools, pool and trade-level margining and triparty profiles across these systems is... Satisfaction and acknowledge our market expertise and a common data model allows solutions...