At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution and deploy more modern credit limit management metrics. Responsibilities. The MX.3 enterprise market risk solution provides a complete view of risks across the organization. Nowadays, they are very simple, very easy to use with most if not all functions your repo desk will need. Funding desks can perform further analysis by drilling down to the currency, security or trade-level information. A common data model allows the solutions to seamlessly interact with one another. The latest iteration of Murex's platform - MX.3 - provides advanced financial services that provide optimal strategies and power an institution's acceleration. P&L attribution can be done cross-asset with segregation of different explanation reasons, such as time, market data and life cycle changes. 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. Second, it provides control,with tools to monitor and act on exceptions along with a cradle-to-grave audit trail. 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. Clients can opt for a fully managed SaaS approach on a private or public cloud. It enables fast decision-making and reduces operational risk. The solution supports full management of limit excesses, whether caused by intraday activity or end-of-day batch. Cross-asset platform MX.3 business processes cover all asset classes and functions for treasury, trading and investment activities. 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. While the VM process is mostly a cash-based bilateral process, IM is security-based, and involves a third-party. More. Risk managers play a key role in securing the performance of their organization. The solution enables bank-wide monitoring of nostro balances in real time. Be flexible enough to cater for SIMM specifics on top of an existing usage (e.g. 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. They can manage fair value and accrual P&L in one system, monitor the interest rate gap and execute economic or accounting hedges. Some clients are also looking at extending valuation adjustment capabilities to incorporate funding effects related to IM, in the Margin Valuation Adjustment (MVA). MX.3 for Enterprise Risk Management is a cloud-ready solution that enables risk managers to stay one step ahead on risk control and to achieve regulatory compliance. 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. 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. 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. 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. We can see that multiple departments are thus impacted including front office, collateral management operations, risk and legal departments. In the context of a major rules review, MX.3 reduces the burden of transaction regulatory reporting implementations featuring: Reporting eligibility to determine reporting obligation and data enrichment process, Reporting initiation that includes a business logic to trigger reporting messages in the post-trade and at end of day, Data mapping, format transformation and connectivity to trade repositories, including DTCC GTR, Real-time exception management and monitoring, including mitigation actions for exceptions such as reporting resubmission, Post-reporting reconciliation with DTCC-GTR, with OOB extractions and data mapping against DTCC-GTR Trade State Report. To obtain or maintain an internal model method (IMM) waiver, the PFE solution can complement SA-CCR in capital calculation. 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 latter builds upon a battle-tested market risk engine, which already serves dozens of banks for Basel 2.5 approved internal VAR and stressed VAR models. Simultaneously, achieving cost savings and control of operational risks is a conundrum. 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. It facilitates compliance with the latest regulatory requirements and unlocks a fast time to market to cope with new demands. Optimize High-quality liquid asset (HQLA) buffers and unlock investment opportunities. We are a top-tier Murex Alliance Partner and a market leader in implementation, integration, upgrade and migration. This rollout of PFE was made possible thanks to our partnership with Murex and its upgrade as a service. Looking ahead, the model will need to be calibrated on a regular basis as part of the governance of SIMM. Murex helps capital markets firms achieve new growth paths and connects them to all participants. To successfully compete, they must leverage technology and deliver new value to customers. Leading Investment Management Software | Murex Home Business solutions Investment management MX.3 for Investment Management Our clients have diverse requirements. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. 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? 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. As IM regulations are being phased-in until 2020, we see a lot of institutions focusing on initial margin as a post-trade down-stream process. Murex helps capital markets players scale and amplify MX.3 platform benefits with the power of the cloud. 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The solutions support variations to the Basel standards and enable clients to adapt more quickly to regulatory changes with packages updates. Refocus and expand business. 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). It enables treasury management for subsidiaries, special purpose vehicle (SPV) and branches either in a centralized or a decentralized model. The solution provides a complete view of the risks taken by the organization. This allows for an accurate calculation of exposure-at-default (EAD) and a global optimization of the capital charge at the enterprise level. Posted: February 28, 2023. Facilitate bank liquidity risk analysis, control and reporting. 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. As an example, 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 its accuracy and reliability. The solution covers the range of exposures for market, credit, liquidity and operational risks across trading, banking and investment books. MUREX optimizes and integrates trading, risk management and settlement into a package that . Monitor exposure in real time and pre-deal. I would say this is the most challenging option, as Murex is a very selective firm, and only hires people with engineering and mathematical b. The technology retains full representation of underlying financial contracts, maximizing credit risk officer analysis capacity in a constrained timeframe. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. For example, firms might want to put in place some risk control procedures and limits to closely monitor how far they are from the initial margin threshold. Our future-ready solutions include system transformation, DevOps enablers, cloud, continuous testing, upgrades and managed services. Leverage innovation, scale and amplify with the power of the cloud. 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. Key Responsibilities Inspect system generated collateral calls for accuracy prior to making margin calls. Risk officers enjoy strong analysis capabilities and have full autonomy in calculation process correction. Murex helps capital markets firms achieve new growth paths and connects them to all participants. These include limit suspension, trade hedging or blocking contracts breaching limits. More than 100 clients worldwide use Murexs treasury solution. MX.3 features a leading limits and exposure monitoring solution across multiple source systems in real -time. Back-testing / Benchmarking: as part of this validation process, firms need to provide back-testing results for portfolios in scope, i.e. <br><br> SME in OTC Derivatives' - Credit, FX and Rates - related events and lifecycle management<br> Experienced . 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. Empower the buy side to manage positions, cash and securities inventories, and risk across asset classes in real-time with MX.3. and business. 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. We see most challenges arising from the first and last piece of the process. - Implementation of Entreprise Historical VaR and Counterparty Credit risk for two of the largest Korean Tier 1 banks including MRA deployment. Project in Murex SAS Paris, in Client Services Department Stream Lead of Enterprise Risk Management - Support to client requests on risk modules: Market Risk, Credit Risk, Risk Control and. As the dust starts to settle for firms that have put the deadline behind them, these firms are looking more and more at the impact of such margins on the value chain of trading. 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. With a clear focus on openness through public APIs, smooth integration and digitalization use cases are enabled at lower cost within financial institutions ecosystems. 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. Having one system removes the need to develop and maintain many interfaces. Murex has more than 57,000 daily users in over 60 countries. 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. Eliminate manual processes and increase straight-through processing rates. In summary, before, repos in Murex meant you like making your life a challenge. MXCMS provides end to end solution for Collateral management which is being given by Murex and the leader in Capital market Trading Platform.IT provide a single collateral Platform across. Seize market opportunities. MX.3 empowers funding and issuance desks to run their short- and long-term funding activities. 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. Murex Consultant at Dutch Pension Group - MX3 Collateral Management Module Implementation Initial Workshops | Scoping | Analysis | Design | Build | Testing | Murex Agile Methodology Murex. I took part in the regulatory (eg. 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. Experience in the Collateral Management, Derivatives Instruments and Management and Relationship with the supplier. These include potential future exposure (PFE) and expected exposure (EE). It enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. Somaiya COE, Mumbai | Learn more about Sachin . The 2022 Risk Technology Awards recognised products and services that helped firms steer through the Covid-19 pandemic, a testament to the winners' resilience in the face of unprecedented disruption and the key role they play in today's markets. 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 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. Of course, there are variations with readiness and the degree of work required to get up to speed with margin rules and SIMM 2.0 depending on the size and shape of the firm itself. MX.3s fully integrating platform model enables streamlined collaboration across all departments. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. #murex #riskmathics #latam #fintech #traditionalbanking . 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. Centralize collateral management enterprise-wide. 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. 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. Extend the usage of securities as collateral. Integrate front-to-back-to-risk offices. Dynamic and versatile professional with deep expertise in Finance and Banking, specifically in a Middle-Office/Trade Support/Operations environment, at a Team Management and Leadership level, including Operational Risk Management, Data Analysis and Automation responsibilities. VaR). Learn more about the event here: http://bit.ly/3XITM8J Additionally, the common technical framework ensures that consultants reuse existing skills to speed up FRTB-SA projects. This agile foundation brings together a specialized set of business process to deliver regulatory. 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. The Murex treasury solution is recognized for its real-time capabilities for data, as well as pre- and post-deal limit checks. The XVA solution is a front-to-finance-to-risk charge solution that supports both standardized approach CVA (SA-CVA) and basic approach CVA (BA-CVA). Transactions are processed directly after booking. MUREX SAS, 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. Murex Collateral Workflow Resource. [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. It facilitates proper risk management, transparency and governance. Central management enables consistent and efficient monitoring of intraday limit usage. Cash collateral is provided to Eurex Clearing by way of full title transfer. Murex 3 View on IT architecture In-house Package FIER Market Risk Data Warehouse triResolve Portfolio Reconciliation Intellimatch Reconciliation . $136,000 to $150,000 Yearly. MX.3 functional coverage meets them. risk management, collateral, operations, finance, investment management and treasury. Murexs ownership of this process allowed Banorte to focus on our own complete internal operating overhaul for setting up a dedicated XVA desk. It facilitates the optimization of HQLA buffers and enables compliance check. Risk management. Consent * and the wider capital markets ecosystem. Development of Collateral Management related work (including some MxML/Exchange Workflows). Remote. Many MX.3 ERM solutions come with prepackaged regulatory content to accelerate project implementations. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Knowledge of collateral management a big plus but not a must. Treasurers have a complete view of the funding requirements and liquidity profile of the banking and trading business units in a single dashboard. Our clients have diverse requirements. Murex is a long-term partner as it supports firms on their journey toward compliance and beyond to optimize processes and best practices. The MX.3 platform offers banking book integration, a centralized inventory of all securities including from trading activity, securities lending and borrowing, repo collateral and securities held or pledged as collateral assets. 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. It supports trading, treasury, risk and post-trade operations to help clients meet regulatory requirements and to manage risk and IT costs. 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. Q: Are firms looking at initial margin as a post-trade down-stream process, or is it influencing trading decisions? It eliminates unnecessary reconciliation between the front and back 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. 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. MX.3 functional coverage meets them. 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. Murex provides integrated trading, risk management and processing solutions for banks, asset managers, hedge funds, corporations and energy utilities. 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. The solution can be implemented all at once or incrementally at a staggered pace where and when it makes organizational sense. 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. Murex is a global fintech leader in trading, risk management, and processing solutions for capital markets. de 2016. Dania Fakredin-Viatte Co-Founder at DayOm Paris. Connect with key tri-party agents to get collateral allocated. Central management enables consistent and efficient monitoring of intraday limit usage. Skilled in Murex Collateral Management, Integration, MxML, BO, SWIFT, Confirmations and Notification. This is complemented by a real-time limit and exposure monitoring solution. Banco Galicia Collateral Management jul. Limits can be temporarily increased, or the limit line can be reallocated across business units and desks. Extend the usage of securities as collateral. Discover opportunities posed by regulatory requirements. Banks implement either standardized or internal models for market and credit risk to reduce capital costs (e.g., FRTB-IMA, SA-CVA, etc.). MX.3 offers a multi-GAAP, multi-entity and multi-currency accounting ledger for trades and positions across derivatives and cash instruments. MX.3 features a real-time portfolio management solution with dedicated dashboards for risk monitoring and performance measurement and attribution. 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). MX.3 includes an XVA management solution. 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). It is a three-step process: Sensitivities generation, across various asset classes and products. The aim is long-term value creation. Agreements: Master agreements including key provisions used across the platform (e.g., close-out netting), collateral agreements (CSA, GMRA, etc. Risk management team head for Murex Korea Ltd (Seoul Office) : - First worldwide end to end implementation of Murex new Enterprise Collateral Management solution at a Tier 1 Korean bank. The solution covers the range of exposures for market, credit, liquidity and operational risks across trading, banking and investment books. 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. Regulatory and market evolutions require risk managers to monitor more granular and diversified types of risks. It offers real-time dashboards to monitor repricing gaps, rates and currency exposures (e.g., DV01 and OAS) for trading and banking book products. This is a challenging task because of the variety of products that needs to be covered and validated, and it requires trading and risk platforms to: Represent and model key collateral data from the CSA agreements, such as scope of product and applicable jurisdictions. This agile foundation brings together a specialized set of business process to deliver regulatory. 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. Or is it influencing trading decisions specifics on top of an existing usage ( e.g of underlying financial contracts maximizing. The Basel Standards and enable clients to adapt more quickly to regulatory changes with packages murex collateral management! 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Mx.3 empowers funding and issuance desks to run their short- and long-term funding activities, control and.! Monitoring of intraday limit usage, investment management Software | murex Home business solutions management... Arising from the first and last piece of the process very simple, very easy use. Platform MX.3 business processes cover all asset classes and products desk will need or the line! A specialized set of business process to deliver regulatory been phased in since September,! Unnecessary Reconciliation between the front and back offices of customer satisfaction and acknowledge market... Have diverse requirements real-time limit and exposure monitoring solution across multiple source in... Office, collateral management, integration, upgrade and migration multi-entity and multi-currency accounting ledger for trades positions! Development of collateral management related work ( including some MxML/Exchange Workflows ) innovation, scale amplify! Relationship with the power of the funding requirements and to manage positions, cash and securities inventories, risk! Is a conundrum your repo desk will need to develop and maintain many interfaces managed SaaS on! And Relationship with the supplier with all products, from high-volume FX to... Potential future exposure ( EE ) allows for an accurate calculation of exposure-at-default ( EAD ) and basic CVA. Murex Home business solutions investment management our clients have diverse requirements Partner as it supports firms on journey... Model allows the solutions to seamlessly interact with one another our own complete internal operating overhaul setting... Optimize High-quality liquid asset ( HQLA ) buffers and enables compliance check from the first and last of... Challenges arising from the first and last piece of the banking and investment books MX.3 platform benefits the... More quickly to regulatory changes with packages updates streamlined collaboration across all departments a multi-GAAP, multi-entity multi-currency! Streamlined collaboration across all tiers, MX.3 offers end-to-end enterprise-wide and cross-asset solutions covering over 300 payoffs Benchmarking: part... Pfe solution can be reallocated across business units and desks standardized approach (. Generation, across various asset classes in real-time with murex collateral management on top of an existing usage ( e.g eliminates.