The solution provides access to denormalized data via its powerful business intelligence tool or through APIs and batch extractions to downstream systems. Banks implement either standardized or internal models for market and credit risk to reduce capital costs (e.g., FRTB-IMA, SA-CVA, etc.). Users are prompted for manual review and action only if an exception check fails. In October 2021, Murex's MX.3 platform was implemented at . 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. Clients can opt for a fully managed SaaS approach on a private or public cloud. At Banorte, we successfully implemented the Murex PFE solution to enhance the analytical credit risk solution and deploy more modern credit limit management metrics. 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. 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 invested early in regulatory risk solutions, and has been following evolutions with clients ever since, often offering updated packages for legacy installations to meet overlapping and shifting regulatory deadlines. It facilitates the optimization of HQLA buffers and enables compliance check. It recognizes that collateral management has become very intertwined with many business functions within financial institutions. 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. 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. The solution features a flexible global operating model that mirrors a financial institutions entity structure with desks, books, portfolios or other hierarchical dimensions. First, it saves costs by maximizing automated STP processes and reducing manual intervention to where it adds value. Learn more about how to achieve internal and external business process digitalization. Limits can be temporarily increased, or the limit line can be reallocated across business units and desks. The solution supports full management of limit excesses, whether caused by intraday activity or end-of-day batch. This agile foundation brings together a specialized set of business process to deliver regulatory. MX.3 is the integrating capital markets platform Discover MX.3 Sales and trading Close the gap between front office, risk, operations and finance with MX.3 advanced analytics and leading product coverage. 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. Powerful KPI reporting for operational risk control and regulatory indicators is provided, as well as statistics on time-to-match, time-to-clear. 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. It leverages front and risk computation engines for valuations, accruals and amortizations to ensure consistency and simplify reconciliation efforts. Murex is a company that provides financial software for trading, treasury, risk, and post-trade operations for financial markets. Achieve regulatory compliance. The solution covers the range of exposures for market, credit, liquidity and operational risks across trading, banking and investment books. 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). Posted: February 28, 2023. Download the brochure: MX.3 for Bank Treasury, Head of Operations and Strategic Development, Nationwide Building Society, treasury division. Dania Fakredin-Viatte Co-Founder at DayOm Paris. Consent * Andy Haigh: Yes, specifically Murex's MX.3 Collateral Management module. 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Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. Murex has over 2,500 team members across 19 locations who provide cutting-edge technology, superior customer service and unique product innovation. Learn how peers benefit from MX.3. The solution-based ISDA SIMM methodology supports the full model governance toolkit, including exercise A back testing and exercise B benchmarking. Rahba: The new version of the SIMM, 2.0 introduces risk factors for three product types volatility indices, quanto CDS and municipal swaps and includes a full recalibration of parameters (correlations and risk weights). This allows for an accurate calculation of exposure-at-default (EAD) and a global optimization of the capital charge at the enterprise level. 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, It avoids mapping issues and brings implementation efficiency and day-to-day accuracy. 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. Regulatory and market evolutions require risk managers to monitor more granular and diversified types of risks. 04 Aug 2022. "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. 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 . Right after an execution is done, the process is automated with platforms such as DTCC CTM and Markitwire or the SWIFT matching solution. Second, it provides control,with tools to monitor and act on exceptions along with a cradle-to-grave audit trail. FRTB-SA leverages over two decades of experience in sensitivity analyticsit brings accuracy and rich product coverage. Alternately, P&L can be imported from other system sources, with the ability to correct and enrich the figures in MX.3 (e.g., adjustments, reserves) and recalculate on demand. Have handson work experience of Java, Spring, ORacle and Sybase db. 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. Build Accurate Rate Curves in an Inflationary Context. 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. Murex helps capital markets firms achieve new growth paths and connects them to all participants. It delivers seamless pricing, cost allocation and risks transfer. This is complemented by a real-time limit and exposure monitoring solution. #fintech #technology #DigitalBanking. Nowadays, they are very simple, very easy to use with most if not all functions your repo desk will need. In 2019, the collateral management and OTC derivatives processing vendor solutions space is dominated by two questions from a Tier I and Tier II investment bank selection process perspective: Data quality enrichment done for SIMM benefits FRTB-SA. 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. Leverage innovation, scale and amplify with the power of the cloud. We can see that multiple departments are thus impacted including front office, collateral management operations, risk and legal departments. The Murex treasury solution is recognized for its real-time capabilities for data, as well as pre- and post-deal limit checks. As a back-office user, the processing work is reduced to the minimum with a high degree of automation from matching to clearing and settlement. 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. 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. You are part of a cross technical and functional agile team, where you . 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. Development/Support in Murex Collateral Management. Remote. Central management enables consistent and efficient monitoring of intraday limit usage. It interacts with third-party deal capture systems. MX.3 includes an XVA management solution. 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. Multiple relational database management systems (RDBMS) choices are available between Microsoft SQL Server, SAP ASE or Oracle. Risk officers enjoy strong analysis capabilities and have full autonomy in calculation process correction. simulate SIMM on past data to gauge its accuracy and effectiveness. It provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. Murex helps capital markets firms achieve new growth paths and connects them to all participants. MX.3 offers strong analysis capabilities to risk officers. MUREX optimizes and integrates trading, risk management and settlement into a package that . It covers standard agreements such as CSA, CSD, SCSA, GMRA and GMSLA. Integrate front-to-back-to-risk offices. 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. Knowledge of collateral management a big plus but not a must. 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 centralizes collateral processing across entities and business lines. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. 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. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. MX.3 achieves Fundamental Review of the Trading Book (FRTB) compliance. High-throughput integration capabilities for trade execution and positions are supported. 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. Risk management. Some clients are also looking at extending valuation adjustment capabilities to incorporate funding effects related to IM, in the Margin Valuation Adjustment (MVA). This hybrid deployment model allows Murex clients to avoid costly hardware buys and answers regulatory constraints linked to sensitive data. A cloud-friendly enterprise risk platform that covers cross-regulation requirements simplifies and speeds up compliance and reduces total cost. 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 supports diverse financial services clients, from banking and asset management to commodities and energy. Simultaneously, achieving cost savings and control of operational risks is a conundrum. 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