The custodian is then automatically notified through SWIFT. The solution includes full access rights management and audit procedures. Strong professional with a BE degree focused in Information Technology from K.J. Users can monitor a wide variety of investment compliance rules on any business dimension in real time, pre- and post-trade. These firms might therefore need to have a decentralised way of managing SIMM, generating risk sensitivities across these systems. 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. 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. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Comply with evolving global and local regulations and standards. This report examines top innovative trends in collateral management adopted by central banks, institutions managing banking books and trading books, and the buy-side. 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. Project Tasks included: Functional Lead - Data Migration For Agreement Static Data: - Mapping of ALGO (previous collateral management system) fields to Murex fields - Building upload file for migration of agreement static data 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. Agreements: Master agreements including key provisions used across the platform (e.g., close-out netting), collateral agreements (CSA, GMRA, etc. It is designed to be flexible enough to support changing regulatory requirements while centralizing and simplifying them, ensuring . Some clients are also looking at extending valuation adjustment capabilities to incorporate funding effects related to IM, in the Margin Valuation Adjustment (MVA). The solution features a flexible global operating model that mirrors a financial institutions entity structure with desks, books, portfolios or other hierarchical dimensions. Multiple relational database management systems (RDBMS) choices are available between Microsoft SQL Server, SAP ASE or Oracle. MX.3 offers a multi-GAAP, multi-entity and multi-currency accounting ledger for trades and positions across derivatives and cash instruments. The aim is long-term value creation. 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. MX.3 helps financial institutions comply with various transaction-based regulatory regimes, such as G20 Transaction Reporting and Securities Financing Transactions Regulation (SFTR). 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. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. It facilitates the optimization of HQLA buffers and compliance checking. MX.3 maximizes STP, decreases operational risk, and enhances operational control. 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. The project ran from July 2019 to June 2022, going live in May 2022. Smaller firms that will phase in between now and 2020, generally have a more centralised way of managing the process from sensitivity generation across asset classes down to margin calculation and so on. Exceptions are handled manually from a dashboard with a birds eye view. MX.3 supports improved STP rates by enabling connectivity to key market utilities such as Acadiasoft Margin Manager and Initial Margin Exposure Manager (IMEM). [2] This. Market conditions demand prioritized bank focus on treasury departments. Development/Support in Murex Collateral Management. Achieve regulatory compliance. 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 clients have diverse requirements. From their day-to-day screen, end users can slice and dice and drill down to the finest calculation inputs, such as trades parameters, legal agreement in addition to other reference data. It minimizes the time infrastructure is used for recomputation and enables cost savings with a pay-as-you-go model. VaR). Its MX.3 platform is engineered to meet evolving challenges. It eliminates unnecessary reconciliation between the front and back offices. It provides the optionality to apply advanced treatments for exotics instead of conservative approximations (e.g., breaking down a cap/floor transaction into individual caplets for each flow). It is exception-based. This agile foundation brings together a specialized set of business process to deliver regulatory. 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. Risk managers play a key role in securing the performance of their organization. The solution also supports the computation and transfer of funding valuation adjustment (FVA) for derivatives transactions. Many MX.3 ERM solutions come with prepackaged regulatory content to accelerate project implementations. 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 Central management enables consistent and efficient monitoring of intraday limit usage. MX.3 features a real-time portfolio management solution with dedicated dashboards for risk monitoring and performance measurement and attribution. 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. Banco Galicia Collateral Management jul. Murex helps capital markets firms achieve new growth paths and connects them to all participants. 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. Remote. With a clear focus on openness through public APIs, smooth integration and digitalization use cases are enabled at lower cost within financial institutions ecosystems. Our Murex services include system transformation, DevOps enablers, cloud, continuous testing, upgrade and managed services. More than 100 clients worldwide use Murexs treasury solution. 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 recognizes that collateral management has become very intertwined with many business functions within financial institutions. Learn how peers benefit from MX.3. MX.3 enables finance teams to manage the appropriate accounting entry generation for all products and entities. "Legacy systems cannot adapt fast enough to . The XVA solution provides deal-per-deal attribution for credit valuation adjustment and funding valuation adjustment to the accounting solution. It covers standard agreements such as CSA, CSD, SCSA, GMRA and GMSLA. 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. Retrospective dashboards summarize excess causes and resolution time and keep top management informed. Operations teams are continuously adapting to changing regulations and market infrastructure evolution while supporting ever-growing transaction volumes across financial products. It is based on qualitative interviews with over 30 market participants conducted in the second and third quarters of 2020. The solution provides a complete view of the risks taken by the organization. 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. Development of Collateral Management related work (including some MxML/Exchange Workflows). FRTB-SA leverages over two decades of experience in sensitivity analyticsit brings accuracy and rich product coverage. MX.3 simplifies post-trade with all products, from high-volume FX cash to complex over-the-counter derivatives, managed on a robust, single platform. Banks implement either standardized or internal models for market and credit risk to reduce capital costs (e.g., FRTB-IMA, SA-CVA, etc.). These include limit suspension, trade hedging or blocking contracts breaching limits. $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. Across all our clients, we are seeing collateral data reinforced as being key across various departments: not only from a VM and IM calculation and processing perspective, but also for pricing, trading and risk management. Comply with international and domestic GAAPs. Transactions are processed directly after booking. Many banks deploy Murex's third generation platform MX.3 to manage risk, accelerate transformation, and simplify compliance, all while driving revenue growth. It delivers seamless pricing, cost allocation and risks transfer. MX.3 includes an XVA management solution. Regulations have had a dramatic impact across all business processes within capital markets. 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. MX.3 can be managed by the customer or delivered in SaaS by Murex. MX.3s fully integrating platform model enables streamlined collaboration across all departments. Murexs ownership of this process allowed Banorte to focus on our own complete internal operating overhaul for setting up a dedicated XVA desk. Sensitivity generation requires the ability to project and compute sensitivities across various predefined risk factors (rates, credit, fx, equity and commodities). MX.3 functional coverage meets them. 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. It enables end users to get figures analyzed efficiently and meet the deadline for official results sign-off. It facilitates compliance with the latest regulatory requirements and unlocks a fast time to market to cope with new demands. We have detailed how complex such a project is. 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 #fintech #technology #DigitalBanking. P&L attribution can be done cross-asset with segregation of different explanation reasons, such as time, market data and life cycle changes. Murex delivers smart technology to capital markets. Model validation and implementation: firms can either use a schedule-based method, or a model with margins that meets a 99% confidence level of cover over a 10-day standard margin period of risk. MX.3 provides enterprise solutions that allow banks to control market, credit, and liquidity risk for internal and regulatory compliance. The solution offers a centralized inventory of all securities that come from fixed income and equity cash business lines, securities lending and borrowing, repo collateral and securities held or pledged as collateral assets. 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. Security instruments: across both equities and bonds, with out-of-the-box connectivity to Bloomberg to collect ISIN data. First, it saves costs by maximizing automated STP processes and reducing manual intervention to where it adds value. Manage market risk for trading and banking books in one system. The complexity of these risks leads to ever-more-intensive computational needs, which require enterprise risk management software. Skilled in Murex Collateral Management, Integration, MxML, BO, SWIFT, Confirmations and Notification. Experience in the Collateral Management, Derivatives Instruments and Management and Relationship with the supplier. Learn more in an introductory video. 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. Murex helps capital markets players scale and amplify MX.3 platform benefits with the power of the cloud. It leverages a pay-as-you-go model and infrastructure elasticity. AllianceBernstein is a leading global investment management firm that offers high-quality research and diversified investment . 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. Participated in the Implementation of Murex Collateral Management System. Portfolio manager Risk Manager Trader Compliance officer Back-office analyst CTO Stephen Jones Head of Group Finance and BSM IT Momentum Metropolitan 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. 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). Development of Collateral Management related work (including some MxML/Exchange Workflows). 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 . Format results as per the standard ISDA CRIF (Common Risk Interchange Format). 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. To successfully compete, they must leverage technology and deliver new value to customers. It enables treasury management for subsidiaries, special purpose vehicle (SPV) and branches either in a centralized or a decentralized model. 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. The solutions powerful workflow framework for trade, settlement and confirmation processes produces extremely high level of automation along the entire value chain. Larger firms, for whom initial margin requirements have been phased in since September 2016, tend to have a more decentralised risk infrastructure. 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. Centralize collateral management enterprise-wide. 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. It proposes solutions for both the standardized approach, FRTB-SA, and the internal model approach, FRTB-IMA. 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. Overview Our Software Murex and the Cloud What We Think Case Studies Overview Integrate front-to-back-to-risk offices. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Key Responsibilities Inspect system generated collateral calls for accuracy prior to making margin calls. Murex is a leading global software provider of trading, risk management, processing operations, and post-trade solutions for capital markets. risk management, collateral, operations, finance, investment management and treasury. What are the New Trading Trends and Opportunities in 2023? 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). Each regulatory solution is a stepping stone to another. Have handson work experience of Java, Spring, ORacle and Sybase db. Murex provides integrated trading, risk management and processing solutions for banks, asset managers, hedge funds, corporations and energy utilities. The latest iteration of Murex's platform - MX.3 - provides advanced financial services that provide optimal strategies and power an institution's acceleration. Murex 3 View on IT architecture In-house Package FIER Market Risk Data Warehouse triResolve Portfolio Reconciliation Intellimatch Reconciliation . Murex is a long-term partner as it supports firms on their journey toward compliance and beyond to optimize processes and best practices. A similar approach has been taken for FRTB-SA, FRTB-IMA, initial margin, SA-CCR and CVA capital charge. Fully managed by Murex, the solution leverages a shared and elastic infrastructure. MX.3 is tailored to manage asset class specifics, from securities settlement for securities finance to cash payment for the high-volume FX business, harnessing CLS services, from automated eligibility, submission and matching to settlement. 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. Due to high accuracy and full coverage of risk-weighted assets (RWA) across multiple jurisdictions, this end-to-end solution enables strong capital payback. $136,000 to $150,000 Yearly. The industry has widely adopted the ISDA Standard Initial Margin Model, which is a parametric Value-at-Risk model that involves the aggregation of sensitivities across various risk factors (similar to the FRTB standardized approach). Because all cash transactions are transferred into a single account at Eurex Clearing, segregation is achieved on the clearing house level using the record-keeping of Eurex . 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. Gain a holistic view across the banking and trading books. 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. Seamlessly connect in batch and real time. To serve large and complex computations, MX.3 provides a proprietary grid or can be integrated with the IBM Symphony grid, and supports both CPU and GPU engines. Right after an execution is done, the process is automated with platforms such as DTCC CTM and Markitwire or the SWIFT matching solution. Consistency is enforced by a shared reference data repository and a common calculation framework. The solution supports full management of limit excesses, whether caused by intraday activity or end-of-day batch. It is very flexible. Learn more about how to achieve internal and external business process digitalization. These include limit suspension, trade hedging or blocking contracts breaching limits. 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. Download the brochure: MX.3 for Bank Treasury, Head of Operations and Strategic Development, Nationwide Building Society, treasury division. Murex is a global fintech leader in trading, risk management, and processing solutions for capital markets. MX.3 offers pricing, trade capture and trade life cycle management in a versatile catalog of traditional and structured treasury products. 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. 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