Dania Fakredin-Viatte Co-Founder at DayOm Paris. Murexs ownership of this process allowed Banorte to focus on our own complete internal operating overhaul for setting up a dedicated XVA desk. MX.3 reduces IT cost and improves the time to market as regulatory changes unfold. Optimize profitability and risk management of your lending activity, manage your liabilities funding cost and trading cost of funds. 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 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. $136,000 to $150,000 Yearly. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Trade level CVA and FVA can be allocated to the proper unit of account. The solution covers the range of exposures for market, credit, liquidity and operational risks across trading, banking and investment books. Risk managers play a key role in securing the performance of their organization. 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. They provide risk forecasts and help trading to take risk-informed decisions from inception. Murex Consultant/Developer Encore Theme Mount Laurel, NJ Estimated $91.9K - $116K a year Due to high accuracy and full coverage of risk-weighted assets (RWA) across multiple jurisdictions, this end-to-end solution enables strong capital payback. and the wider capital markets ecosystem. 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 optimizes and integrates trading, risk management and settlement into a package that . What are the New Trading Trends and Opportunities in 2023? MX.3 offers pricing, trade capture and trade life cycle management in a versatile catalog of traditional and structured treasury products. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. It eliminates unnecessary reconciliation between the front and back offices. Bank treasuries face enormous challenges as they cope with evolving standards and regulations. 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. More. 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. FRTB-SA leverages over two decades of experience in sensitivity analyticsit brings accuracy and rich product coverage. Manage market risk for trading and banking books in one system. Corporate and retail activities can be integrated in MX.3. It offers a wide integration capability that enables a smooth fit within existing IT landscapes. Learn more about the event here: http://bit.ly/3XITM8J 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. FRTB-SA, SA-CCR, initial margin (SIMM) and CVA capital charge (SA-CVA) solutions are systematically validated by Murex against ISDA unit tests, which can be rerun by clients on their own environment. For SA-CCR, accuracy of figures reduces the risk-weighted assets (RWA). I took part in the regulatory (eg. In October 2021, Murex's MX.3 platform was implemented at . Murex Explores How Digital Assets, DLT Might Reshape Digital Landscape, Sibos 2022: Rabobank, Accenture and Murex Discuss Platform Transformation, LIBOR Transition Preparing for the Final Year, Nationwide Outlines Critical Factors in Selecting Murex as Treasury Vendor. 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. So it should not be underestimated. MX.3 functional coverage meets them. Dedicated alliance managers define relevant strategies with system integrators, connectivity partners, technology partners and industry associations across all regions. 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. 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. The solution provides a complete view of the risks taken by the organization. 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. It facilitates proper risk management, transparency and governance. It provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. MUREX S.A.S. It is exception-based. Full-Time. Security instruments: across both equities and bonds, with out-of-the-box connectivity to Bloomberg to collect ISIN data. Limits can be temporarily increased, or the limit line can be reallocated across business units and desks. Murex supports diverse financial services clients, from banking and asset management to commodities and energy. Comply with international and domestic GAAPs. 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 . Luxoft 4.5. 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 facilitates compliance with the latest regulatory requirements and unlocks a fast time to market to cope with new demands. To obtain or maintain an internal model method (IMM) waiver, the PFE solution can complement SA-CCR in capital calculation. We can see that multiple departments are thus impacted including front office, collateral management operations, risk and legal departments. A high-performance simulated PFE calculation engine gives end users access to an accurate real-time intraday exposure. 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? Development of Collateral Management related work (including some MxML/Exchange Workflows). Leverage innovation, scale and amplify with the power of the cloud. We have detailed how complex such a project is. 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. simulate SIMM on past data to gauge its accuracy and effectiveness. Improve efficiency and cost-effectiveness. Participated in the Implementation of Murex Collateral Management System. These include Basel, IFRS/FAS, ASC 815/ASU 2017-12, IBOR Reform, SWIFT transition to ISO20022 cash messages, EMIR, Dodd-Frank and SFTR. Each regulatory solution is a stepping stone to another. Integrate front-to-back-to-risk offices. Many banks deploy Murex's third generation platform MX.3 to manage risk, accelerate transformation, and simplify compliance, all while driving revenue growth. This includes calculation of bilateral BCBS/IOSCO WGMR margin rules. It provides accurate credit risk measures (e.g., issuer lending, notional, pre-settlement, settlement)across all asset classes. Treasurers have a complete view of the funding requirements and liquidity profile of the banking and trading business units in a single dashboard. MX.3 offers an enterprise-wide solution for global credit risk management. Click here FormGroup-1 * First Name * Last Name * Job Title * Company * Email * Country FormGroup-3 Do You Have a Project? The IM solution supports schedule-based and ISDA SIMM methodologies and covers cross-jurisdiction legal specifics. see more Enterprise risk management Build an overall strategy for regulatory compliance and internal risk management. 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. 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. Back-testing / Benchmarking: as part of this validation process, firms need to provide back-testing results for portfolios in scope, i.e. Data quality enrichment done for SIMM benefits FRTB-SA. Our clients have diverse requirements. 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. This agile foundation brings together a specialized set of business process to deliver regulatory. Breaches are routed to a proper investigation and resolution of causesthis provides efficiency to the risk controller. MX.3 offers strong analysis capabilities to risk officers. These include limit suspension, trade hedging or blocking contracts breaching limits. AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment . Firms need not only to implement these models, but also to go through a regulatory approval process across national regulators. 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). Risk management. This new version has been in effect since the end of 2017. Users access to an accurate real-time intraday exposure across all regions ( IMM ) waiver, the solution., notional, pre-settlement, settlement ) across all regions liquidity profile of the risks taken by organization. Risk and legal departments methodologies and covers cross-jurisdiction legal specifics BCBS/IOSCO WGMR margin rules here FormGroup-1 First! 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