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. It eases standard-compliance checks and solution validation by regulators. 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. Select a preferred infrastructure option. It is designed to be flexible enough to support changing regulatory requirements while centralizing and simplifying them, ensuring . Data quality enrichment done for SIMM benefits FRTB-SA. Additionally, the common technical framework ensures that consultants reuse existing skills to speed up FRTB-SA projects. MUREX S.A.S. Improve efficiency and cost-effectiveness. 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. [2] Control total cost of ownership. 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. This enables risk officers to get corrected figures efficiently and meet the deadline for official results. 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. This hybrid deployment model allows Murex clients to avoid costly hardware buys and answers regulatory constraints linked to sensitive data. 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. Risk management. Innovate and improve customer experience and personalization. Murex has today announced extended reconciliation functionality in its MX.3 collateral management offering, Murex Collateral Manager. We have detailed how complex such a project is. [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. Collateral Management Implementation Stream Lead at Nationwide Murex Jun 2014 - Aug 2015 1 year 3 months. MX.3 has helped numerous financial institutions across the globe to be compliant on time, while unleashing new business opportunities. 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. Out-of-the-box connectivity to reconciliation tools facilitates cash, security position and collateral exposure reconciliation. It covers a wide range of analytical exposures, including pre-settlement, lending, issuer, country and concentration risks. This agile foundation brings together a specialized set of business process to deliver regulatory. Mizuho Optimizes XVA Desk through MX.3 Extension. High-throughput integration capabilities for trade execution and positions are supported. Mizuho Optimizes XVA Desk through MX.3 Extension. Development/Support in Murex Collateral Management. Finance teams operate in a complex world of multiple currencies, across multiple legal entities with multiple accounting schemas. Bank treasuries face enormous challenges as they cope with evolving standards and regulations. 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. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Facilitate bank liquidity risk analysis, control and reporting. Agreements: Master agreements including key provisions used across the platform (e.g., close-out netting), collateral agreements (CSA, GMRA, etc. Operations teams are continuously adapting to changing regulations and market infrastructure evolution while supporting ever-growing transaction volumes across financial products. The solution supports local and specific conventions across markets worldwide, including Islamic finance and Latin America particulars, among others. It enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. It offers real-time dashboards to monitor repricing gaps, rates and currency exposures (e.g., DV01 and OAS) for trading and banking book products. 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. FRTB-SA can be implemented on top of SIMM at an optimized cost. This new version has been in effect since the end of 2017. 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). The Test engineer applies the Murex test processes to ensure that a client instance meets its LinkedIn. The Search for a True, Front-to-Back, Modular Vendor Offering . The enterprise risk management solution builds on the MX.3 platform. A common data model allows the solutions to seamlessly interact with one another. Project Tasks included: Functional Lead - Data Migration For Agreement Static Data: - Mapping of ALGO (previous collateral management system) fields to Murex fields - Building upload file for migration of agreement static data Our Murex services include system transformation, DevOps enablers, cloud, continuous testing, upgrade and managed services. simulate SIMM on past data to gauge its accuracy and effectiveness. Full-Time. Murex helps capital markets firms achieve new growth paths and connects them to all participants. 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. IM computation, by aggregating these sensitivities, using risk weights and correlations. Murex has developed a global network of trusted partners in the capital markets ecosystem to support growth as it remains focused on core expertise areas. MUREX optimizes and integrates trading, risk management and settlement into a package that . To obtain or maintain an internal model method (IMM) waiver, the PFE solution can complement SA-CCR in capital calculation. Extend the usage of securities as collateral. Portfolio manager Risk Manager Trader Compliance officer Back-office analyst CTO Stephen Jones Head of Group Finance and BSM IT Momentum Metropolitan $136,000 to $150,000 Yearly. Development/Support in Murex Collateral Management. Looking ahead, the model will need to be calibrated on a regular basis as part of the governance of SIMM. Andy Haigh: Yes, specifically Murex's MX.3 Collateral Management module. Murex helps capital markets firms achieve new growth paths and connects them to all participants. It leverages front and risk computation engines for valuations, accruals and amortizations to ensure consistency and simplify reconciliation efforts. Head of Operations Head of finance Head Product Control Head of collateral Back-office analyst Data specialist Pamela Hacker The solution also supports the computation and transfer of funding valuation adjustment (FVA) for derivatives transactions. 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, 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. 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? MX.3 enjoys the widest instrument coverage in the industry, from flow to complex products. 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. 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. 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. 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. 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. Discover opportunities posed by regulatory requirements. Connect with key tri-party agents to get collateral allocated. 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 enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. Murex provides enterprise-wide, cross-asset financial technology solutions. Collateral pay-off function : - Risk-free value of the collateralized portfolio at the re-margining date - Thresholds, Minimum Transfer Amount, Independent amounts, rounding rules - Outstanding balance - Haircuts applicable to the collateral asset Copyright 2011 Murex S.A.S. Some of the built-in ledger functions include FX management, which balances calculations with the ability to book balance adjustments, as well as accounting periods management and automated feed to the general ledger. Experienced Murex Professional with a demonstrated history of working in the investment banking. 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. Murex is a company that provides financial software for trading, treasury, risk, and post-trade operations for financial markets. Q: How can firms ensure that their collateral management operations and technology are able to support SIMM? A cloud-friendly enterprise risk platform that covers cross-regulation requirements simplifies and speeds up compliance and reduces total cost. MX.3 is delivered with standard out-of-the-box processes, which can be customized to fit the target operational process of the institution. The project ran from July 2019 to June 2022, going live in May 2022. 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. 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. 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. This is complemented by a real-time limit and exposure monitoring solution. 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. MX.3 offers an end-to-end enterprise-wide solution used by more than 120 customers across all tiers to meet regulatory requirements. MX.3 gives a consolidated view of exposures across entities with incremental intraday variation computed in batch or in real-time. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. 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. Format results as per the standard ISDA CRIF (Common Risk Interchange Format). 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. 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. In October 2021, Murex's MX.3 platform was implemented at . The solution covers the range of exposures for market, credit, liquidity and operational risks across trading, banking and investment books. The SA-CCR solution includes necessary documents to reduce documentation efforts for clients. 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. It computes incremental XVA costs and sensitivities in real time and pre-deal, while structuring new trades. Learn more about the event here: http://bit.ly/3XITM8J Regulatory and market evolutions require risk managers to monitor more granular and diversified types of risks. 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. 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. Sibos 2022: Listen to Rabobank, Murex and Accenture as they provide perspectives on the opportunities of IT re-platforming. The powerful MX.3 cash flow engine strengthens the solution by generating contractual flows and estimates future flows across all asset classes, enabling real-time monitoring of liquidity ladders. see more Enterprise risk management Build an overall strategy for regulatory compliance and internal risk management. Mizuho Optimizes XVA Desk through MX.3 Extension. Operating from our 19 offices, 2400 Murexians from over 60 different nationalities ensure the development, implementation and support of our platform which is . 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