The XVA solution provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. Out-of-the-box connectivity to reconciliation tools facilitates cash, security position and collateral exposure reconciliation. Murex Specialist at iNovoTek Solutions United Kingdom. #fintech #technology #DigitalBanking. In summary, before, repos in Murex meant you like making your life a challenge. The technology retains full representation of underlying financial contracts, maximizing credit risk officer analysis capacity in a constrained timeframe. New York, NY. MX.3 helps financial institutions comply with various transaction-based regulatory regimes, such as G20 Transaction Reporting and Securities Financing Transactions Regulation (SFTR). MX.3 interfaces with market and reference data providers, multi- and single-dealer platforms, affirmation and clearing, repo management, collateral, settlement and transaction regulatory reporting. $1bn in innovation over 10 years Murex partners with over 300 clients, including global banks, market makers, leading multi-regional banks, regional and national banks. What are the New Trading Trends and Opportunities in 2023? Bank treasuries face enormous challenges as they cope with evolving standards and regulations. These include potential future exposure (PFE) and expected exposure (EE). 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). Manage market risk for trading and banking books in one system. Risk officers enjoy strong analysis capabilities and have full autonomy in calculation process correction. MX.3 can be managed by the customer or delivered in SaaS by Murex. 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. Monitor exposure in real time and pre-deal. Paris, London, Swindon Cowrie Financial Murex Practice Consultant . 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. 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. Business dashboards summarize excess causes and resolution time and keep senior management informed. Murex is a leading global software provider of trading, risk management, processing operations, and post-trade solutions for capital markets. Similarly, they need to provide benchmarking results, comparing SIMM to another model (e.g. MX.3 reduces IT cost and improves the time to market as regulatory changes unfold. Comply with evolving global and local regulations and standards. 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. Validation workflows that include the four-eyes principle can be applied to all changes made on reference data and limits. 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. 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. Skilled in Murex Collateral Management, Integration, MxML, BO, SWIFT, Confirmations and Notification. 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. Holiday calendars: with connectivity to market utilities such as Swaps Monitor. 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. $136,000 to $150,000 Yearly. Connect with key tri-party agents to get collateral allocated. MUREX optimizes and integrates trading, risk management and settlement into a package that . Central management enables consistent and efficient monitoring of intraday limit usage. Security instruments: across both equities and bonds, with out-of-the-box connectivity to Bloomberg to collect ISIN data. Leading Investment Management Software | Murex Home Business solutions Investment management MX.3 for Investment Management Our clients have diverse requirements. MX.3 offers a genuine end-to-end trade life cycle management with a high-performing straight-trough processing (STP) framework. To unlock trapped collateral and manage it more effectively for UMR, firms need data to be co-ordinated in real-time, Farhat believes. Exceptions are handled manually from a dashboard with a birds eye view. It facilitates the transfer of funds between accounts through manual or automatic procedures. The Murex treasury solution is recognized for its real-time capabilities for data, as well as pre- and post-deal limit checks. The IM solution supports schedule-based and ISDA SIMM methodologies and covers cross-jurisdiction legal specifics. Our clients have diverse requirements. In summary, before, repos in Murex meant you like making your life a challenge. "Legacy systems cannot adapt fast enough to . The system relies on its generic workflow framework handling, transactions, settlements, static data and more: It is real time to minimize processing time. Each regulatory solution is a stepping stone to another. and the wider capital markets ecosystem. It eliminates unnecessary reconciliation between the front and back offices. 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. 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. Address stringent regulatory requirements with integrated real-time liquidity, analytics, position and risk management. MX.3 helps control capital costs. de 2016. Empower the buy side to manage positions, cash and securities inventories, and risk across asset classes in real-time with MX.3. Complementary to the on-premises deployment model, XVA solutions can leverage a version-agnostic business process as a service (BPaaS) offering for intensive computation. MX.3 helps anticipate the market by applying market data scenarios, shifting horizon, running stress tests and executing what-if simulations. 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. Q: How different is version 2.0 of SIMM compared to the previous version? The solution supports historical value at risk (VAR), expected shortfall, stress testing and profit and loss explanations. Murex provides integrated trading, risk management and processing solutions for banks, asset managers, hedge funds, corporations and energy utilities. 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. Operational efficiency can be maximized with bilateral and cleared relationships seamlessly managed within one system. 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. MX.3 centralizes the processing and reporting of trades, positions, margin calls and settlements across all instrument types, trading sources and settlement routes. This agile foundation brings together a specialized set of business process to deliver regulatory. The last piece of the process, margin call processing, has similarities with the variation margin process, but it comes with some specificities: in particular, once firms have agreed with their counterparties on the amounts of initial margin and additional collateral, they are then generally relying on tri-party agents to fulfil their collateral requirements. We can see that multiple departments are thus impacted including front office, collateral management operations, risk and legal departments. 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 enables compliance with Accounting Standards Committee topic 820 and the International Financial Reporting Standards (IFRS) 13. It facilitates the optimization of HQLA buffers and enables compliance check. Murex helps capital markets firms achieve new growth paths and connects them to all participants. 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. 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. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. It delivers seamless pricing, cost allocation and risks transfer. Larger firms, for whom initial margin requirements have been phased in since September 2016, tend to have a more decentralised risk infrastructure. Our future-ready solutions include system transformation, DevOps enablers, cloud, continuous testing, upgrades and managed services. We have detailed how complex such a project is. [2] Positions are natively represented to serve different business processes. 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. 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. Having one system removes the need to develop and maintain many interfaces. Murex Consultant at Dutch Pension Group - MX3 Collateral Management Module Implementation Initial Workshops | Scoping | Analysis | Design | Build | Testing | Murex Agile Methodology Murex. While the VM process is mostly a cash-based bilateral process, IM is security-based, and involves a third-party. Portfolio manager Risk Manager Trader Compliance officer Back-office analyst CTO Stephen Jones Head of Group Finance and BSM IT Momentum Metropolitan Discover opportunities posed by regulatory requirements. The solutions support variations to the Basel standards and enable clients to adapt more quickly to regulatory changes with packages updates. Not a specific collateral management activity but key for an efficient collateral management process Each party has its own version of a transaction in its system (sometimes even The platform empowers leading teams to streamline standard and bespoke processes across all product types in a 24/7 trading world. These include limit suspension, trade hedging or blocking contracts breaching limits. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. It automates the entire calculation chain with the full data set to improve accuracy. Firms need not only to implement these models, but also to go through a regulatory approval process across national regulators. MX.3 features a real-time portfolio management solution with dedicated dashboards for risk monitoring and performance measurement and attribution. The solution-based ISDA SIMM methodology supports the full model governance toolkit, including exercise A back testing and exercise B benchmarking. Format results as per the standard ISDA CRIF (Common Risk Interchange Format). 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. Operations and Finance Software For Capital Markets | Murex Home Business solutions Operations and finance MX.3 for Operations and Finance Our clients have diverse requirements. Download the brochure: MX.3 for Operations and Finance. Mizuho Optimizes XVA Desk through MX.3 Extension. 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. 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. cross-currency swaps). MX.3 functional coverage meets them. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Participated in the Implementation of Murex Collateral Management System. 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. 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. They can manage fair value and accrual P&L in one system, monitor the interest rate gap and execute economic or accounting hedges. 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. The solution includes full access rights management and audit procedures. 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). MX.3 functional coverage meets them. Cash collateral is provided to Eurex Clearing by way of full title transfer. Luxoft 4.5. Fully managed by Murex, the solution leverages a shared and elastic infrastructure. Many banks deploy Murex's third generation platform MX.3 to manage risk, accelerate transformation, and simplify compliance, all while driving revenue growth. Build Accurate Rate Curves in an Inflationary Context. The custodian is then automatically notified through SWIFT. Infrastructure provisioning linked to intraday corrections is optimized because of a surgical recomputation based on what is impacted by changes. It offers real-time dashboards to monitor repricing gaps, rates and currency exposures (e.g., DV01 and OAS) for trading and banking book products. 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: 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. They provide risk forecasts and help trading to take risk-informed decisions from inception. Rahba: First and foremost, firms need to be regulatory compliant by exchanging margins on a daily basis. Murex helps capital markets firms achieve new growth paths and connects them to all participants. AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment . 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. 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). 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. Regulations have had a dramatic impact across all business processes within capital markets. 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. Key Responsibilities Inspect system generated collateral calls for accuracy prior to making margin calls. Risk managers play a key role in securing the performance of their organization. Knowledge of collateral management a big plus but not a must. 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. All rights reserved 4 5. To successfully compete, they must leverage technology and deliver new value to customers. I took part in the regulatory (eg. 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? FRTB-SA can be implemented on top of SIMM at an optimized cost. MX.3 for Collateral Management has helped more than 100 financial institutions streamline collateral operations with regulatory compliance. Somaiya COE, Mumbai | Learn more about Sachin . Extend the usage of securities as collateral. Consistency is enforced by a shared reference data repository and a common calculation framework. Users can monitor a wide variety of investment compliance rules on any business dimension in real time, pre- and post-trade. Luxoft 4.5. 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. 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. 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. Posted: February 28, 2023. Right after an execution is done, the process is automated with platforms such as DTCC CTM and Markitwire or the SWIFT matching solution. 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The International financial Reporting standards ( IFRS ) 13, MxML, BO, SWIFT, and... To take effective actions immediately dimension in real time, pre- and post-deal checks! Business dimension in real time, pre- and post-deal limit checks not a must maintain many interfaces, comparing to. Represented to serve different business processes participated in the Implementation of Murex collateral management, Integration,,. Across all tiers, mx.3 offers a genuine end-to-end trade life cycle with... In calculation process correction set to improve accuracy have a more decentralised risk.! Executing what-if simulations regulations have had a dramatic impact across all tiers, mx.3 offers end-to-end enterprise-wide and solutions... Connect with key tri-party agents to get collateral allocated, as well as pre- and post-deal limit checks principle. Foundation brings together a specialized set of business process to deliver regulatory SWIFT matching solution office, collateral management,. Standard ISDA CRIF ( Common risk Interchange format ) linked to intraday is...
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