The solution supports historical value at risk (VAR), expected shortfall, stress testing and profit and loss explanations. MX.3 is at the heart of the banks IT infrastructure, connecting seamlessly with existing systems (e.g., core banking, data warehouse, general ledger, etc.) Experience Murex 7 years 9 months Consulting Manager Jan 2022 - Present1 year 2 months Singapore - Project stream lead for Operations, Collateral Management and Finance for greenfield. Luxoft 4.5. Integrate front-to-back-to-risk offices. Development of Collateral Management related work (including some MxML/Exchange Workflows). Regulations have had a dramatic impact across all business processes within capital markets. It offers a wide integration capability that enables a smooth fit within existing IT landscapes. The full job description is as follows: Location: Jersey City, NJ. With a clear focus on openness through public APIs, smooth integration and digitalization use cases are enabled at lower cost within financial institutions ecosystems. MX.3 achieves Fundamental Review of the Trading Book (FRTB) compliance. From their day-to-day screen, they can slice and dice and drill down to the finest calculation inputs without recalculation. Due to high accuracy and full coverage of risk-weighted assets (RWA) across multiple jurisdictions, this end-to-end solution enables strong capital payback. In October 2021, Murex's MX.3 platform was implemented at . Achieve operational excellence with a single cross-asset platform that streamlines standard and bespoke processes. To unlock trapped collateral and manage it more effectively for UMR, firms need data to be co-ordinated in real-time, Farhat believes. Multiple relational database management systems (RDBMS) choices are available between Microsoft SQL Server, SAP ASE or Oracle. MX.3 offers margining, regulatory compliance and collateral trading for all asset classes: bilateral or cleared OTC, repo or securities lending, and exchange traded derivatives products. We are a top-tier Murex Alliance Partner and a market leader in implementation, integration, upgrade and migration. It facilitates the optimization of HQLA buffers and enables compliance check. Sensitivity generation requires the ability to project and compute sensitivities across various predefined risk factors (rates, credit, fx, equity and commodities). It leverages a pay-as-you-go model and infrastructure elasticity. 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. It recognizes that collateral management has become very intertwined with many business functions within financial institutions. 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 runs each process in a fully automated manner, such as routing or exception checks based on a set of predefined rules. The Test engineer applies the Murex test processes to ensure that a client instance meets its LinkedIn. MX.3 is a scalable, multi-entity platform. In each client jurisdiction, a local regulatory watch ensures those packages remain up-to-date with regulation changes. New York, NY. 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). It enables treasury management for subsidiaries, special purpose vehicle (SPV) and branches either in a centralized or a decentralized model. 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. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. Manages report preparers, control and governance process Securitization and Equity RWA Manager - Basel III Director (Regulatory Reporting) Manages team of SMEs through quarterly and monthly. 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, NAB Significantly Improves Performance by Migrating MX.3 to AWS, Pavilion Energy, Upskills, Murex Deploy MX.3 to Azure, Leading Mexican Bank Banorte Strengthens Credit Risk Management Practices, Rabobank Achieves Strategic Transformation with Murex MX.3, BIBD Embraces Murex Solution for Bank Treasury with Islamic Finance, Momentum Metropolitan Migrates, Upgrades MX.3 to AWS, Murex Enables NCB to Meet Complex SA-CCR Requirements, ABN AMRO Relies on Murex and smartTrade to Automate the Full FX value Chain, Krungsri (Bank of Ayudhya) Manages Higher Volumes, Rapidly Scales with Murex, Sibos 2022: Rabobank, Accenture and Murex Discuss Platform Transformation, Nationwide Outlines Critical Factors in Selecting Murex as Treasury Vendor, Murexs Philippe Helou Discusses IBSi Sales League Table 2022 Win, ICBC Standard Bank Details Main Benefits of Using MX.3 for Commodities Trading, ICBC Standard Bank COO Reveals Deciding Factors in Selecting Murex as Partner, Rabobank Chief Digital Officer Details the Transformation Journey with MX.3, IBSI FinTech Journal August 2021 - The Big Interview. Murex is a leading global software provider of trading, risk management, processing operations, and post-trade solutions for capital markets. Security instruments: across both equities and bonds, with out-of-the-box connectivity to Bloomberg to collect ISIN data. It is very flexible. 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. The solution enables bank-wide monitoring of nostro balances in real time. It minimizes the time infrastructure is used for recomputation and enables cost savings with a pay-as-you-go model. 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. MX.3 provides enterprise solutions that allow banks to control market, credit, and liquidity risk for internal and regulatory compliance. Banks implement either standardized or internal models for market and credit risk to reduce capital costs (e.g., FRTB-IMA, SA-CVA, etc.). MUREX S.A.S. P&L attribution can be done cross-asset with segregation of different explanation reasons, such as time, market data and life cycle changes. Its powerful Monte Carlo engine simulates counterparty credit risk measures. . MX.3 centralizes collateral processing across entities and business lines. 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. Development/Support in Murex Collateral Management. greater new york city area. Nos vemos en CDMX entre el 7-9 Marzo!. Mizuho Optimizes XVA Desk through MX.3 Extension, NAB Significantly Improves Performance by Migrating MX.3 to AWS, Pavilion Energy, Upskills, Murex Deploy MX.3 to Azure, Leading Mexican Bank Banorte Strengthens Credit Risk Management Practices, Rabobank Achieves Strategic Transformation with Murex MX.3, BIBD Embraces Murex Solution for Bank Treasury with Islamic Finance, Momentum Metropolitan Migrates, Upgrades MX.3 to AWS, Murex Enables NCB to Meet Complex SA-CCR Requirements, ABN AMRO Relies on Murex and smartTrade to Automate the Full FX value Chain, Sibos 2022: Rabobank, Accenture and Murex Discuss Platform Transformation, ICBC Standard Bank COO Reveals Deciding Factors in Selecting Murex as Partner, ICBC Standard Bank Details Main Benefits of Using MX.3 for Commodities Trading, Bankdata Details Largest Re-platforming Program, Rabobank Chief Digital Officer Details the Transformation Journey with MX.3, MX.3 Enterprise Risk and Regulatory Suite. Some clients are also looking at extending valuation adjustment capabilities to incorporate funding effects related to IM, in the Margin Valuation Adjustment (MVA). It facilitates the optimization of HQLA buffers and compliance checking. Alex Rojas Full Stack Developer - Javascript (ES6), MongoDB . MX.3 has helped numerous financial institutions across the globe to be compliant on time, while unleashing new business opportunities. MX.3 offers pricing, trade capture and trade life cycle management in a versatile catalog of traditional and structured treasury products. 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 is delivered with standard out-of-the-box processes, which can be customized to fit the target operational process of the institution. All exposures can be checked against limits pre-trade and in real time to optimize decisions and reduce operational risk. Connect with key tri-party agents to get collateral allocated. A similar approach has been taken for FRTB-SA, FRTB-IMA, initial margin, SA-CCR and CVA capital charge. Operating from our 19 offices, 2400 Murexians from over 60 different nationalities ensure the development, implementation and support of our platform which is . 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. We have detailed how complex such a project is. 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. 04 Aug 2022. Leverage innovation, scale and amplify with the power of the cloud. Be flexible enough to cater for SIMM specifics on top of an existing usage (e.g. This agile foundation brings together a specialized set of business process to deliver regulatory. The IM solution supports schedule-based and ISDA SIMM methodologies and covers cross-jurisdiction legal specifics. Operations teams are continuously adapting to changing regulations and market infrastructure evolution while supporting ever-growing transaction volumes across financial products. Head of Operations Head of finance Head Product Control Head of collateral Back-office analyst Data specialist Pamela Hacker Trade level CVA and FVA can be allocated to the proper unit of account. From an implementation perspective, market risk capabilities (P&L, Value at Risk) need to be leveraged to pass the validation step, and monitoring procedures need to be established. Clients can opt for a fully managed SaaS approach on a private or public cloud. Murex has over 2,500 team members across 19 locations who provide cutting-edge technology, superior customer service and unique product innovation. MX.3 functional coverage meets them. It interacts with third-party deal capture systems. Remote. 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. A cloud-friendly enterprise risk platform that covers cross-regulation requirements simplifies and speeds up compliance and reduces total cost. de 2016. 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. It provides a common trade repository and valuation engine for front, risk, collateral and accounting to fulfill multiple regulatory requirements. Provide capabilities to output various types of sensitivities delta, vega, curvature. Comply with evolving global and local regulations and standards. MX.3 includes an XVA management solution. Murex is a long-term partner as it supports firms on their journey toward compliance and beyond to optimize processes and best practices. 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. This new version has been in effect since the end of 2017. The solution includes full access rights management and audit procedures. The solution covers the range of exposures for market, credit, liquidity and operational risks across trading, banking and investment books. 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. 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. 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. cross-currency swaps). Seamlessly connect in batch and real time. 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 Eliminate manual processes and increase straight-through processing rates. 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. ComDer Clearing House - Chile, Calypso project . The platform empowers leading teams to streamline standard and bespoke processes across all product types in a 24/7 trading world. We can see that multiple departments are thus impacted including front office, collateral management operations, risk and legal departments. Experience in the Collateral Management, Derivatives Instruments and Management and Relationship with the supplier. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Murex training with murex online course, corporate course, support, end -user training by top best expert consultant with hands-on experience at reasonable price with flexible timings murex training Follow Advertisement Advertisement Recommended Nivethitha_Murex and Manual Testing_7 yrs Nivethitha Balasubramanian 1k views 7 slides The solution supports full management of limit excesses, whether caused by intraday activity or end-of-day batch. Murex helps capital markets firms achieve new growth paths and connects them to all participants. DFA, Volcker Rule .) Limits can be temporarily increased, or the limit line can be reallocated across business units and desks. Larger firms that were part of earlier phases, might be using our platform from a front-office perspective, where we are focusing on making sure they can generate sensitivities across asset classes. Funding desks can perform further analysis by drilling down to the currency, security or trade-level information. What are the New Trading Trends and Opportunities in 2023? 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 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. 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. Murex Consultant/Developer Encore Theme Mount Laurel, NJ Estimated $91.9K - $116K a year 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. We see most challenges arising from the first and last piece of the process. 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. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. MX.3 offers an enterprise-wide solution for global credit risk management. $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. It provides critical pricing, desk management and accounting capabilities to hedge and optimize XVA costs. MX.3 helps control capital costs. 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. 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. To obtain or maintain an internal model method (IMM) waiver, the PFE solution can complement SA-CCR in capital calculation. Risk management. MX.3 enables finance teams to manage the appropriate accounting entry generation for all products and entities. The XVA solution provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. 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. Facilitate bank liquidity risk analysis, control and reporting. MX.3 functional coverage meets them. Overview. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. The custodian is then automatically notified through SWIFT. Bank treasuries face enormous challenges as they cope with evolving standards and regulations. Q: Are firms looking at initial margin as a post-trade down-stream process, or is it influencing trading decisions? Connect with key tri-party agents to get collateral allocated. It avoids mapping issues and brings implementation efficiency and day-to-day accuracy. #murex #riskmathics #latam #fintech #traditionalbanking . Initial margin costs can also be used pre-trade to feed a trading decision, for example to optimize counterparty choice. Our clients have diverse requirements. We provide end-to end project services and have delivered over 200 successful Murex projects across all major asset-classes and sectors including investment banking, asset management, corporate treasury and insurance. Download the brochure: MX.3 for Bank Treasury, Head of Operations and Strategic Development, Nationwide Building Society, treasury division. Transactions are processed directly after booking. These include potential future exposure (PFE) and expected exposure (EE). Portfolio manager Risk Manager Trader Compliance officer Back-office analyst CTO Stephen Jones Head of Group Finance and BSM IT Momentum Metropolitan The enterprise risk management solution builds on the MX.3 platform. It eases standard-compliance checks and solution validation by regulators. 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 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). Data mapping richness helps clients cut costs and effort required for extractions, mapping and reconciliations. Its MX.3 platform is engineered to meet evolving challenges. It proposes solutions for both the standardized approach, FRTB-SA, and the internal model approach, FRTB-IMA. The project ran from July 2019 to June 2022, going live in May 2022. Murex is a global fintech leader in trading, risk management and processing solutions for capital markets. 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. 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. 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. 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. 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. Dania Fakredin-Viatte Co-Founder at DayOm Paris. Data quality enrichment done for SIMM benefits FRTB-SA. Agreements: Master agreements including key provisions used across the platform (e.g., close-out netting), collateral agreements (CSA, GMRA, etc. A common data model allows the solutions to seamlessly interact with one another. This enables risk officers to get corrected figures efficiently and meet the deadline for official results. simulate SIMM on past data to gauge its accuracy and effectiveness. It is based on qualitative interviews with over 30 market participants conducted in the second and third quarters of 2020. So it should not be underestimated. Central management enables consistent and efficient monitoring of intraday limit usage. 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. As a result, we have significantly improved our STP rates and streamlined our processes. 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. Aug 2013 - Jun 20162 years 11 months. 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. Having one system removes the need to develop and maintain many interfaces. 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. Entre el 7-9 Marzo! real-time, Farhat believes how complex such a project is cross-asset platform that cross-regulation. To feed a trading decision, for example to optimize decisions and reduce operational risk data to be on. Compliance checking can also be used pre-trade to feed a trading decision, for example optimize... 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