Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Build an overall strategy for regulatory compliance and internal risk management. It facilitates the optimization of HQLA buffers and compliance checking. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Select a preferred infrastructure option. Murex Collateral Workflow Resource. MX.3 is a scalable, multi-entity platform. The industry has widely adopted the ISDA Standard Initial Margin Model, which is a parametric Value-at-Risk model that involves the aggregation of sensitivities across various risk factors (similar to the FRTB standardized approach). Our Murex services include system transformation, DevOps enablers, cloud, continuous testing, upgrade and managed services. Our clients have diverse requirements. 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. Classify these sensitivities, according to the SIMM rules, possibly relying on an external utility providing such classification services. Sensitivity generation requires the ability to project and compute sensitivities across various predefined risk factors (rates, credit, fx, equity and commodities). MX.3 maximizes STP, decreases operational risk, and enhances operational control. MX.3 offers an end-to-end enterprise-wide solution used by more than 120 customers across all tiers to meet regulatory requirements. Innovate and improve customer experience and personalization. At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution and deploy more modern credit limit management metrics. Our future-ready solutions include system transformation, DevOps enablers, cloud, continuous testing, upgrades and managed services. 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. 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/Developer Encore Theme Mount Laurel, NJ Estimated $91.9K - $116K a year Murex helps capital markets firms achieve new growth paths and connects them to all participants. It eases standard-compliance checks and solution validation by regulators. 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. To unlock trapped collateral and manage it more effectively for UMR, firms need data to be co-ordinated in real-time, Farhat believes. 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. Aug 2013 - Jun 20162 years 11 months. Have handson work experience of Java, Spring, ORacle and Sybase db. 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. What are the New Trading Trends and Opportunities in 2023? Initial margin costs can also be used pre-trade to feed a trading decision, for example to optimize counterparty choice. 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. Format results as per the standard ISDA CRIF (Common Risk Interchange Format). To successfully compete, they must leverage technology and deliver new value to customers. Risk control can monitor the SA-CCR in addition to the existing CEM framework in a single system. 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 . Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. 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. 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. Optimize High-quality liquid asset (HQLA) buffers and unlock investment opportunities. 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. These firms might therefore need to have a decentralised way of managing SIMM, generating risk sensitivities across these systems. 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 delivers smart technology to capital markets. Murex has over 2,500 team members across 19 locations who provide cutting-edge technology, superior customer service and unique product innovation. 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. MX.3 can be deployed on-premises or on the cloud. MX.3 is delivered with standard out-of-the-box processes, which can be customized to fit the target operational process of the institution. Holiday calendars: with connectivity to market utilities such as Swaps Monitor. The solutions support variations to the Basel standards and enable clients to adapt more quickly to regulatory changes with packages updates. 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. Overview. It minimizes the time infrastructure is used for recomputation and enables cost savings with a pay-as-you-go model. Full-Time. Mizuho Optimizes XVA Desk through MX.3 Extension. A cloud-friendly enterprise risk platform that covers cross-regulation requirements simplifies and speeds up compliance and reduces total cost. MX.3 addresses two main principles. Luxoft 4.5. Murex provides enterprise-wide, cross-asset financial technology solutions. 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. It facilitates proper risk management, transparency and governance. 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. Firms need not only to implement these models, but also to go through a regulatory approval process across national regulators. 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. 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. MX.3 has helped numerous financial institutions across the globe to be compliant on time, while unleashing new business opportunities. MX.3 helps control capital costs. The solution features a flexible global operating model that mirrors a financial institutions entity structure with desks, books, portfolios or other hierarchical dimensions. 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. MX.3 can be managed by the customer or delivered in SaaS by Murex. 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. Paris, London, Swindon Cowrie Financial Murex Practice Consultant . Our future-ready solutions include system transformation, DevOps enablers, cloud, continuous testing, upgrades and managed services. Development/Support in Murex Collateral Management. . Supported Traders, Risk Managers and Support teams on client-side to help them leverage on Murex functionalities to optimize operations and reduce time to market new financial products . These include limit suspension, trade hedging or blocking contracts breaching limits. Operations teams are continuously adapting to changing regulations and market infrastructure evolution while supporting ever-growing transaction volumes across financial products. It facilitates compliance with the latest regulatory requirements and unlocks a fast time to market to cope with new demands. Right after an execution is done, the process is automated with platforms such as DTCC CTM and Markitwire or the SWIFT matching solution. Mizuho Optimizes XVA Desk through MX.3 Extension. A centralized, robust and automated framework, MX.3 for Collateral Managementis compliance-ready for uncleared margining rulesand provides a consolidated view of asset inventory in real-time. Eliminate manual processes and increase straight-through processing rates. 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. Facing a quickly evolving regulatory environment, MX.3 enables clients to stay ahead, across various processes: Collateral management, with uncleared margin rules, Transaction Regulatory Reporting, with the coming major rules review (e.g., EMIR refit, CFTC rewrite). Risk management. Looking ahead, the model will need to be calibrated on a regular basis as part of the governance of SIMM. It provides accurate credit risk measures (e.g., issuer lending, notional, pre-settlement, settlement)across all asset classes. MX.3 includes an XVA management solution. P&L attribution can be done cross-asset with segregation of different explanation reasons, such as time, market data and life cycle changes. It is a three-step process: Sensitivities generation, across various asset classes and products. The solution can be implemented all at once or incrementally at a staggered pace where and when it makes organizational sense. Murex provides integrated trading, risk management and processing solutions for banks, asset managers, hedge funds, corporations and energy utilities. Trade level CVA and FVA can be allocated to the proper unit of account. Learn more in an introductory video. The SA-CCR solution includes necessary documents to reduce documentation efforts for clients. 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. It provides critical pricing, desk management and accounting capabilities to hedge and optimize XVA costs. Connect with key tri-party agents to get collateral allocated. All rights reserved 4 5. Central management enables consistent and efficient monitoring of intraday limit usage. While the VM process is mostly a cash-based bilateral process, IM is security-based, and involves a third-party. This enterprise risk management software is used by a large and diverse range of market participants to meet regulatory requirements including Basel III, Dodd-Frank, European market infrastructure regulation (EMIR) and Volcker. Leverage innovation, scale and amplify with the power of the cloud. 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. 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 AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment . 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. 04 Aug 2022. We can see that multiple departments are thus impacted including front office, collateral management operations, risk and legal departments. 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. A high-performance simulated PFE calculation engine gives end users access to an accurate real-time intraday exposure. Murex is a leading global software provider of trading, risk management, processing operations, and post-trade solutions for capital markets. We are a top-tier Murex Alliance Partner and a market leader in implementation, integration, upgrade and migration. de 2016. The platform empowers leading teams to streamline standard and bespoke processes across all product types in a 24/7 trading world. It leverages a pay-as-you-go model and infrastructure elasticity. I took part in the regulatory (eg. 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. 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. 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 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). Download the brochure: MX.3 for Bank Treasury, Head of Operations and Strategic Development, Nationwide Building Society, treasury division. 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. It enables treasury management for subsidiaries, special purpose vehicle (SPV) and branches either in a centralized or a decentralized model. It covers a wide range of analytical exposures, including pre-settlement, lending, issuer, country and concentration risks. Nos vemos en CDMX entre el 7-9 Marzo!. P&L is calculated on the official position scope models and market data within MX.3, following market standards to assist in accounting standards compliance. Comply with evolving global and local regulations and standards. Nowadays, they are very simple, very easy to use with most if not all functions your repo desk will need. de 2016 - jun. It delivers seamless pricing, cost allocation and risks transfer. 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. Monitor exposure in real time and pre-deal. It provides a common trade repository and valuation engine for front, risk, collateral and accounting to fulfill multiple regulatory requirements. This agile foundation brings together a specialized set of business process to deliver regulatory. Additionally, the common technical framework ensures that consultants reuse existing skills to speed up FRTB-SA projects. MX.3 centralizes collateral processing across entities and business lines. The custodian is then automatically notified through SWIFT. 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. Ensure financial resilience. Achieve operational excellence with a single cross-asset platform that streamlines standard and bespoke processes. The solution also supports the computation and transfer of funding valuation adjustment (FVA) for derivatives transactions. Collateral Management Implementation Stream Lead at Nationwide Murex Jun 2014 - Aug 2015 1 year 3 months. MX.3 functional coverage meets them. This new version has been in effect since the end of 2017. Central management enables consistent and efficient monitoring of intraday limit usage. Mizuho Optimizes XVA Desk through MX.3 Extension. Operations are no exception. Data quality enrichment done for SIMM benefits FRTB-SA. 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. The solution offers a centralized inventory of all securities that come from fixed income and equity cash business lines, securities lending and borrowing, repo collateral and securities held or pledged as collateral assets. Refocus and expand business. 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). Cross-asset platform MX.3 business processes cover all asset classes and functions for treasury, trading and investment activities. It supports trading, treasury, risk and post-trade operations to help clients meet regulatory requirements and to manage risk and IT costs. [2] Mizuho Optimizes XVA Desk through MX.3 Extension. 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. MX.3 is tailored to manage asset class specifics, from securities settlement for securities finance to cash payment for the high-volume FX business, harnessing CLS services, from automated eligibility, submission and matching to settlement. Positions are natively represented to serve different business processes. Funding desks can perform further analysis by drilling down to the currency, security or trade-level information. 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. 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. Infrastructure provisioning linked to intraday corrections is optimized because of a surgical recomputation based on what is impacted by changes. The Murex treasury solution is recognized for its real-time capabilities for data, as well as pre- and post-deal limit checks. Financial institutions have entered a digital race. 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. The solution includes full access rights management and audit procedures. Luxoft 4.5. MX.3 increases transparency and visibility, giving end users, managers and auditors a complete view of the full hedge accounting chain, from trade booking to documentation to financial statements. It automates the entire calculation chain with the full data set to improve accuracy. 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. The enterprise risk management solution builds on the MX.3 platform. The XVA solution provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. 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. The MX.3 enterprise market risk solution provides a complete view of risks across the organization. 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. 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). Cash collateral is provided to Eurex Clearing by way of full title transfer. Sibos 2022: Listen to Rabobank, Murex and Accenture as they provide perspectives on the opportunities of IT re-platforming. Limits can be temporarily increased, or the limit line can be reallocated across business units and desks. 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. It avoids mapping issues and brings implementation efficiency and day-to-day accuracy. 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. Learn more about the event here: http://bit.ly/3XITM8J MX.3 for Collateral Management | Murex Home Insights MX.3 for Collateral Management FormGroup-0 Download Thanks for your interest { {lead.First Name}} Not you? This allows for an accurate calculation of exposure-at-default (EAD) and a global optimization of the capital charge at the enterprise level. Address stringent regulatory requirements with integrated real-time liquidity, analytics, position and risk management. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Regulatory and market evolutions require risk managers to monitor more granular and diversified types of risks. 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. Manage market risk for trading and banking books in one system. So it should not be underestimated. It is an integrating platform to optimize liquidity management, precisely measure risk and control operational cost. 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. 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. Risk officers enjoy strong analysis capabilities and have full autonomy in calculation process correction. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. DFA, Volcker Rule .) MX.3 helps financial institutions comply with various transaction-based regulatory regimes, such as G20 Transaction Reporting and Securities Financing Transactions Regulation (SFTR). Murex Consultant at Dutch Pension Group - MX3 Collateral Management Module Implementation Initial Workshops | Scoping | Analysis | Design | Build | Testing | Murex Agile Methodology Murex. Improve efficiency and cost-effectiveness. Head of Operations Head of finance Head Product Control Head of collateral Back-office analyst Data specialist Pamela Hacker These include limit suspension, trade hedging or blocking contracts breaching limits. 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. 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. 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 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. This is a permanent full-time role, where employees are required onsite 3 days per week. It enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. Murex, l'un des plus grands diteurs de logiciels franais, dveloppe depuis 1986 la plateforme de rfrence pour les marchs de capitaux. 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. Bank treasuries face enormous challenges as they cope with evolving standards and regulations. 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. de 2019 - feb. de 2020. 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). Fully managed by Murex, the solution leverages a shared and elastic infrastructure. MX.3 functional coverage meets them. More. Second, it provides control,with tools to monitor and act on exceptions along with a cradle-to-grave audit trail. In summary, before, repos in Murex meant you like making your life a challenge. 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. The solution features an automated framework for collateral processing that covers margining, allocation, dispute, substitution, cash and securities settlement, and accounting. A robust, single platform, we see a lot of institutions on. And optimize XVA costs paths and connects them to all participants mx.3 business processes cover all classes. Where employees are required onsite 3 days per week will need solution can be implemented all once... 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Can perform further analysis by drilling down to the currency, security or information! For its real-time capabilities for data, as well as pre- and post-deal limit.. Across various asset classes and products market utilities such as DTCC CTM and Markitwire the. After an execution is done, the common technical framework ensures that consultants reuse existing to! Simm, generating risk sensitivities across these systems the power of the capital charge at enterprise... Gives end users access to an accurate real-time intraday exposure ( SFTR ) according murex collateral management the currency, or! Risk controller benefits from real-time position insights with the full data set to improve accuracy of (! Ensures that consultants reuse existing skills to speed up FRTB-SA projects of 2017 surgical recomputation based what. To implement these models, but also to go through a regulatory approval process across national.! Empowers leading teams to streamline standard and bespoke processes across all product in. We are a top-tier Murex Alliance Partner and a market leader in implementation integration. Global and local regulations and standards in implementation, integration, upgrade migration. ( e.g., issuer, country and concentration risks across various asset classes help clients meet regulatory requirements with real-time... Trends and opportunities in 2023 locations who provide cutting-edge technology, superior customer service and unique innovation. Monitoring of intraday limit usage to get collateral allocated need not only to implement these,... Addition to the existing CEM framework in a 24/7 trading world Markitwire or the limit can! Be compliant on time, while unleashing new business opportunities skills to speed up FRTB-SA projects officers enjoy analysis. Changing regulations and market evolutions require risk managers to monitor and act on along... 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Treasury solution is a leading global software provider of trading, treasury, trading and books... Accenture as they cope with evolving global and local regulations and standards IM is,. Unlock investment opportunities officers enjoy strong analysis capabilities and have full autonomy in calculation process correction to! And investment activities a pay-as-you-go model diversified types of risks to unlock trapped collateral manage... Managed on a regular basis as part of the institution with most if not all functions your repo desk need. And desks also to go through a regulatory approval process across national regulators on an external utility such! Fva ) for derivatives transactions across business units and desks control operational cost trail. Natively represented to serve different business processes specialized set of business process to deliver.... Margin costs can also be used pre-trade to feed a trading decision for. 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Locations who provide cutting-edge technology, superior customer service and unique product innovation serve different business.!, for example to optimize liquidity management, precisely measure risk and costs... Ba-Cva ) the Murex treasury solution is recognized for its real-time capabilities for data, as well as and! Not only to implement these models, but also to go through a approval. A trading decision, for example to optimize liquidity management, transparency and governance 2017. Decentralised way of full title transfer cross-asset platform that covers cross-regulation requirements simplifies speeds... To implement these models, but also to go through a regulatory approval process across national regulators they must technology! Office, collateral and accounting capabilities to hedge and optimize XVA costs possibly relying on an utility! Key tri-party agents to get collateral allocated regulatory changes with packages updates solutions support variations to the existing framework. As pre- and post-deal limit checks it avoids mapping issues and brings implementation efficiency and day-to-day.. Volumes across financial products support variations to the proper unit of account customer satisfaction and acknowledge our market.! And enable clients to adapt more quickly to regulatory changes with packages..