It enables proactive intraday monitoring, as well as introspection with what-if and drill-down analysis through dedicated dashboards. MX.3 maximizes STP, decreases operational risk, and enhances operational control. 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. Mizuho Optimizes XVA Desk through MX.3 Extension. The MX.3 enterprise market risk solution provides a complete view of risks across the organization. MX.3 offers a multi-GAAP, multi-entity and multi-currency accounting ledger for trades and positions across derivatives and cash instruments. Banco de Crdito e Inversiones - Chile, Calypso project ene. It is an integrating platform to optimize liquidity management, precisely measure risk and control operational cost. #murex #riskmathics #latam #fintech #traditionalbanking . It facilitates the transfer of funds between accounts through manual or automatic procedures. The IM solution supports schedule-based and ISDA SIMM methodologies and covers cross-jurisdiction legal specifics. Operational efficiency can be maximized with bilateral and cleared relationships seamlessly managed within one system. 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. Close the gap between front office, risk, operations and finance with MX.3 advanced analytics and leading product coverage. Consistency is enforced by a shared reference data repository and a common calculation framework. Similarly, they need to provide benchmarking results, comparing SIMM to another model (e.g. Murex helps capital markets firms achieve new growth paths and connects them to all participants. 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. Cash collateral is provided to Eurex Clearing by way of full title transfer. Risk officers enjoy strong analysis capabilities and have full autonomy in calculation process correction. Learn more about how to achieve internal and external business process digitalization. Firms need not only to implement these models, but also to go through a regulatory approval process across national regulators. 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. Luxoft 4.5. 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). More. 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. It facilitates compliance with the latest regulatory requirements and unlocks a fast time to market to cope with new demands. Operating from our 19 offices, 2400 Murexians from over 60 different nationalities ensure the development, implementation and support of our platform which is . New York, NY. The solution features an automated framework for collateral processing that covers margining, allocation, dispute, substitution, cash and securities settlement, and accounting. 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. It recognizes that collateral management has become very intertwined with many business functions within financial institutions. Exceptions are handled manually from a dashboard with a birds eye view. Agreements: Master agreements including key provisions used across the platform (e.g., close-out netting), collateral agreements (CSA, GMRA, etc. The system relies on its generic workflow framework handling, transactions, settlements, static data and more: It is real time to minimize processing time. Murex has more than 57,000 daily users in over 60 countries. While the VM process is mostly a cash-based bilateral process, IM is security-based, and involves a third-party. 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. More than 100 clients worldwide use Murexs treasury solution. Murex Consultant at Dutch Pension Group - MX3 Collateral Management Module Implementation Initial Workshops | Scoping | Analysis | Design | Build | Testing | Murex Agile Methodology Murex. 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. 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, Build Accurate Rate Curves in an Inflationary Context. Development of Collateral Management related work (including some MxML/Exchange Workflows). It specializes in all asset classes while managing collateral, margins, and OTC positions. The latest iteration of Murex's platform - MX.3 - provides advanced financial services that provide optimal strategies and power an institution's acceleration. The solution features a flexible global operating model that mirrors a financial institutions entity structure with desks, books, portfolios or other hierarchical dimensions. It is a three-step process: Sensitivities generation, across various asset classes and products. The Search for a True, Front-to-Back, Modular Vendor Offering . MX.3 features a rich set of data-driven business objects to support smooth trade processing, static data set-up and to ease maintenance: Counterparties: core data as well as settlement instructions and confirmation instructions. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. 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. Clients can opt for a fully managed SaaS approach on a private or public cloud. Because of its global client community, Murex can support new clients in all regions with experienced consultants and guide them through the challenging process of regulatory rules interpretation and validation on any jurisdictions. 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. - Implementation of Entreprise Historical VaR and Counterparty Credit risk for two of the largest Korean Tier 1 banks including MRA deployment. Murex Workflow and Collateral Management experienced resource needed for a remote role supporting aSee this and similar jobs on LinkedIn. VaR). MX.3's dashboards offer treasurers a bird's-eye view of liquidity ladders, liquid asset buffers and cash and securities inventory to aid secured and unsecured funding decisions. 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. Its MX.3 platform is engineered to meet evolving challenges. MX.3 enables institutions to achieve these objectives from trade booking to affirmation / confirmation, down to settlement and position management. Trade level CVA and FVA can be allocated to the proper unit of account. The enterprise risk management solution builds on the MX.3 platform. Participated in the Implementation of Murex Collateral Management System. 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. 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). Mizuho Optimizes XVA Desk through MX.3 Extension. It is based on qualitative interviews with over 30 market participants conducted in the second and third quarters of 2020. It computes incremental XVA costs and sensitivities in real time and pre-deal, while structuring new trades. Monitor exposure in real time and pre-deal. They can manage fair value and accrual P&L in one system, monitor the risk and execute economic or accounting hedges. Fully managed by Murex, the solution leverages a shared and elastic infrastructure. It is designed to be flexible enough to support changing regulatory requirements while centralizing and simplifying them, ensuring . Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Improve efficiency and cost-effectiveness. 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. FRTB-SA leverages over two decades of experience in sensitivity analyticsit brings accuracy and rich product coverage. Banks implement either standardized or internal models for market and credit risk to reduce capital costs (e.g., FRTB-IMA, SA-CVA, etc.). Market conditions demand prioritized bank focus on treasury departments. Comply with international and domestic GAAPs. 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. Skilled in Murex Collateral Management, Integration, MxML, BO, SWIFT, Confirmations and Notification. Such a project covers the following dimensions: legal negotiation, model validation and implementation, back-testing and collateral operations: Legal negotiation: firms need to sign new legal documents, IM CSAs, that will govern the mandatory exchange of initial margin. 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. Murex helps capital markets players scale and amplify MX.3 platform benefits with the power of the cloud. Rahba: First and foremost, firms need to be regulatory compliant by exchanging margins on a daily basis. Users are prompted for manual review and action only if an exception check fails. These include limit suspension, trade hedging or blocking contracts breaching limits. Murex is a software company offering a wide range of products and tools necessary for the success of financial institutions in today's digital world. 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. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. The solution covers credit valuation adjustment (CVA), debt valuation adjustment (DVA), funding valuation adjustment (FVA), initial margin valuation adjustment (MVA) and capital valuation adjustment (KVA). Andy Haigh: Yes, specifically Murex's MX.3 Collateral Management module. A common data model allows the solutions to seamlessly interact with one another. This. greater new york city area. 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? Our future-ready solutions include system transformation, DevOps enablers, cloud, continuous testing, upgrades and managed services. Full-Time. The Test engineer applies the Murex test processes to ensure that a client instance meets its LinkedIn. WHAT WE DELIVERED: With the successful introduction of collateral management on Murex, the client achieved their goal of setting up a future-proof and cost-effective collateral management architecture and platform. It enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. Achieve regulatory compliance. Security instruments: across both equities and bonds, with out-of-the-box connectivity to Bloomberg to collect ISIN data. The XVA solution provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. ), netting agreements. 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. 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. The SA-CCR solution includes necessary documents to reduce documentation efforts for clients. Q: How different is version 2.0 of SIMM compared to the previous version? MX.3 runs each process in a fully automated manner, such as routing or exception checks based on a set of predefined rules. Responsibilities. 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. Due to high accuracy and full coverage of risk-weighted assets (RWA) across multiple jurisdictions, this end-to-end solution enables strong capital payback. It is exception-based. It leverages a pay-as-you-go model and infrastructure elasticity. Build an overall strategy for regulatory compliance and internal risk management. The solution supports full management of limit excesses, whether caused by intraday activity or end-of-day batch. As a result, we have significantly improved our STP rates and streamlined our processes. 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, ). Validation workflows that include the four-eyes principle can be applied to all changes made on reference data and limits. It offers a wide integration capability that enables a smooth fit within existing IT landscapes. Rahba: Lets look at the end-to-end process of getting IM calls settled on a daily basis. 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, Amid Hiring Drive, Ranked Second-Best Place to Work in France, Glassdoo, Anadolubank Goes Live on MX.3 with MXGO for Treasury and Trading Management, Murex Sees Strong Recognition at Asia Risk Technology Awards 2022, Murex Develops Interface that Offers Fixed Income, Derivatives Data from ICE, Murex Extends Winning Streak in IBSi Sales League Table, MX.3 Again Named Software Solution of the Year at the FTF Awards, Bank Pekao SA Selects Murex to Optimize Total Cost of Ownership, Piraeus Bank Completes Rationalization Project with Murex, Murex Ranked as a Top 10 Place to Work in France on Glassdoor, Murex Expands Mexico City Offices and Bolsters Americas Presence, At Murex, were pleased to be attending and supporting the RiskMathics Digital Banking & Financial Technologies Forum, taking place in Santa Fe from 7th-9th March. 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. 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