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). 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). More than ever, a bank must secure diversified funding sources, review pricing rules and implement tighter risk, liquidity and collateral controls. Mizuho Optimizes XVA Desk through MX.3 Extension. It is an integrating platform to optimize liquidity management, precisely measure risk and control operational cost. It facilitates the transfer of funds between accounts through manual or automatic procedures. MX.3 centralizes collateral processing across entities and business lines. On-screen drilldown analysis and reporting allow for a performance hierarchy consolidation down to transaction and position levels, with the ability to check transaction and market data details. 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. Data mapping richness helps clients cut costs and effort required for extractions, mapping and reconciliations. I took part in the regulatory (eg. Key Responsibilities Inspect system generated collateral calls for accuracy prior to making margin calls. It facilitates the optimization of HQLA buffers and enables the investment of excess cash using diversified approaches. 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. 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. This allows for an accurate calculation of exposure-at-default (EAD) and a global optimization of the capital charge at the enterprise level. It interacts with third-party deal capture systems. The custodian is then automatically notified through SWIFT. The risk controller benefits from real-time position insights with the ability to take effective actions immediately. 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: 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. $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. 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. It supports trading, treasury, risk and post-trade operations to help clients meet regulatory requirements and to manage risk and IT costs. This new version has been in effect since the end of 2017. 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. Skilled in Murex Collateral Management, Integration, MxML, BO, SWIFT, Confirmations and Notification. Its MX.3 platform is engineered to meet evolving challenges. Discover opportunities posed by regulatory requirements. For SA-CCR, accuracy of figures reduces the risk-weighted assets (RWA). It covers standard agreements such as CSA, CSD, SCSA, GMRA and GMSLA. 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 As a back-office user, the processing work is reduced to the minimum with a high degree of automation from matching to clearing and settlement. The bank already had Murex for their Money Market, FX, Equities and Rates business lines but not for collateral,. To unlock trapped collateral and manage it more effectively for UMR, firms need data to be co-ordinated in real-time, Farhat believes. Have handson work experience of Java, Spring, ORacle and Sybase db. Mizuho Optimizes XVA Desk through MX.3 Extension. Q: Are firms looking at initial margin as a post-trade down-stream process, or is it influencing trading decisions? Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Central management enables consistent and efficient monitoring of intraday limit usage. The solution features a flexible global operating model that mirrors a financial institutions entity structure with desks, books, portfolios or other hierarchical dimensions. [2] This hybrid deployment model allows Murex clients to avoid costly hardware buys and answers regulatory constraints linked to sensitive data. Data quality enrichment done for SIMM benefits FRTB-SA. MX.3 has helped numerous financial institutions across the globe to be compliant on time, while unleashing new business opportunities. 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. 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. In summary, before, repos in Murex meant you like making your life a challenge. Operational efficiency can be maximized with bilateral and cleared relationships seamlessly managed within one system. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. Murex helps capital markets firms achieve new growth paths and connects them to all participants. It avoids mapping issues and brings implementation efficiency and day-to-day accuracy. MX.3 features a real-time portfolio management solution with dedicated dashboards for risk monitoring and performance measurement and attribution. In a changing financial world, our technology is designed to help our 57,000 daily users respond to the challenges they face today and build foundations for the future. 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). 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. Comply with international and domestic GAAPs. 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. Extend the usage of securities as collateral. A cloud-friendly enterprise risk platform that covers cross-regulation requirements simplifies and speeds up compliance and reduces total cost. Cash collateral is provided to Eurex Clearing by way of full title transfer. 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,. Extend the usage of securities as collateral. 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. Infrastructure provisioning linked to intraday corrections is optimized because of a surgical recomputation based on what is impacted by changes. de 2016 - jun. Rahba: First and foremost, firms need to be regulatory compliant by exchanging margins on a daily basis. It facilitates proper risk management, transparency and governance. 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. Gain a holistic view across the banking and trading books. 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. MX.3 includes an XVA management solution. MX.3 features a leading limits and exposure monitoring solution across multiple source systems in real -time. MX.3 offers strong analysis capabilities to risk officers. cross-currency swaps). MX.3 achieves Fundamental Review of the Trading Book (FRTB) compliance. Murex has over 2,500 team members across 19 locations who provide cutting-edge technology, superior customer service and unique product innovation. Nos vemos en CDMX entre el 7-9 Marzo!. Mizuho Optimizes XVA Desk through MX.3 Extension. Murex Credit Risk and Collateral Management consultant Currently Collateral stream lead on a new front to back Murex Implementation in New York, managing a small team on the collateral. This report examines top innovative trends in collateral management adopted by central banks, institutions managing banking books and trading books, and the buy-side. The solution includes full access rights management and audit procedures. MX.3 empowers funding and issuance desks to run their short- and long-term funding activities. Murex is a company that provides financial software for trading, treasury, risk, and post-trade operations for financial markets. The solution can be implemented all at once or incrementally at a staggered pace where and when it makes organizational sense. 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 each client jurisdiction, a local regulatory watch ensures those packages remain up-to-date with regulation changes. The system relies on its generic workflow framework handling, transactions, settlements, static data and more: It is real time to minimize processing time. Looking ahead, the model will need to be calibrated on a regular basis as part of the governance of SIMM. Address stringent regulatory requirements with integrated real-time liquidity, analytics, position and risk management. To analyze figures, credit risk officers take advantage of in-memory aggregation technology. Facilitate bank liquidity risk analysis, control and reporting. We are expecting updates of this model on a yearly basis, meaning new parameters as part of this calibration exercise, and feedback from market participants, as well as a methodology review. It supports cash and security pools, pool and trade-level margining and triparty profiles. It is very flexible. 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. 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. MX.3 is our award-winning open platform that sits at the heart of our clients' IT infrastructure. Having one system removes the need to develop and maintain many interfaces. Some of the built-in ledger functions include FX management, which balances calculations with the ability to book balance adjustments, as well as accounting periods management and automated feed to the general ledger. It is powered by a robust, high-volume infrastructure with a global real-time operating model. 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. Murex delivers smart technology to capital markets. MX.3 is the integrating capital markets platform Discover MX.3 Sales and trading Close the gap between front office, risk, operations and finance with MX.3 advanced analytics and leading product coverage. The 2022 Risk Technology Awards recognised products and services that helped firms steer through the Covid-19 pandemic, a testament to the winners' resilience in the face of unprecedented disruption and the key role they play in today's markets. MX.3 centralizes the processing and reporting of trades, positions, margin calls and settlements across all instrument types, trading sources and settlement routes. "Legacy systems cannot adapt fast enough to . The full job description is as follows: Location: Jersey City, NJ. DFA, Volcker Rule .) The solution provides access to denormalized data via its powerful business intelligence tool or through APIs and batch extractions to downstream systems. This flexible solution enables Murex clients to benefit from continuously improved functionalities without having to upgrade their own MX.3 solution. Build an overall strategy for regulatory compliance and internal risk management. 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. It offers a wide integration capability that enables a smooth fit within existing IT landscapes. 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. Murex provides integrated trading, risk management and processing solutions for banks, asset managers, hedge funds, corporations and energy utilities. Murex helps capital markets players scale and amplify MX.3 platform benefits with the power of the cloud. Aug 2013 - Jun 20162 years 11 months. Overview. 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. These include limit suspension, trade hedging or blocking contracts breaching limits. Project in Murex SAS Paris, in Client Services Department Stream Lead of Enterprise Risk Management - Support to client requests on risk modules: Market Risk, Credit Risk, Risk Control and. Download the brochure: MX.3 for Operations and Finance. It provides accurate credit risk measures (e.g., issuer lending, notional, pre-settlement, settlement)across all asset classes. Centralize collateral management enterprise-wide. Limits can be temporarily increased, or the limit line can be reallocated across business units and desks. This is a challenging task because of the variety of products that needs to be covered and validated, and it requires trading and risk platforms to: Represent and model key collateral data from the CSA agreements, such as scope of product and applicable jurisdictions. 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. It is a three-step process: Sensitivities generation, across various asset classes and products. 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. 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. It provides critical pricing, desk management and accounting capabilities to hedge and optimize XVA costs. Powerful KPI reporting for operational risk control and regulatory indicators is provided, as well as statistics on time-to-match, time-to-clear. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. MX.3 functional coverage meets them. 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. 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. 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. Collateral operations: once firms are equipped with capabilities to compute regulatory-compliant initial margins, they need to update their collateral processes to ensure these margins get settled on time. Somaiya COE, Mumbai | Learn more about Sachin . Consistency is enforced by a shared reference data repository and a common calculation framework. FRTB-SA can be implemented on top of SIMM at an optimized cost. The enterprise risk management solution builds on the MX.3 platform. MX.3 gives a consolidated view of exposures across entities with incremental intraday variation computed in batch or in real-time. The Murex treasury solution is recognized for its real-time capabilities for data, as well as pre- and post-deal limit checks. 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. 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, Nowadays, they are very simple, very easy to use with most if not all functions your repo desk will need. It automates and controls the banks value chain. While the VM process is mostly a cash-based bilateral process, IM is security-based, and involves a third-party. A high-performance simulated PFE calculation engine gives end users access to an accurate real-time intraday exposure. 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). MX.3 enables finance teams to manage the appropriate accounting entry generation for all products and entities. Regulations have had a dramatic impact across all business processes within 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. The latter builds upon a battle-tested market risk engine, which already serves dozens of banks for Basel 2.5 approved internal VAR and stressed VAR models. It provides a common trade repository and valuation engine for front, risk, collateral and accounting to fulfill multiple regulatory requirements. XVA P&L can be fully broken down by various effects such as time decay, market (e.g., forex, interest rates or spreads movements), trade and market operation effects. 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. Murex helps capital markets firms achieve new growth paths and connects them to all participants. Independent market data and models support an Independent Price Verification (IPV) framework. Optimize profitability and risk management of your lending activity, manage your liabilities funding cost and trading cost of funds. Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise. 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. The latest iteration of Murex's platform - MX.3 - provides advanced financial services that provide optimal strategies and power an institution's acceleration. Our future-ready solutions include system transformation, DevOps enablers, cloud, continuous testing, upgrades and managed services. Many banks deploy Murex's third generation platform MX.3 to manage risk, accelerate transformation, and simplify compliance, all while driving revenue growth. Corporate and retail activities can be integrated in MX.3. 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? As a result, we have significantly improved our STP rates and streamlined our processes. 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. 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. Breaches are routed to a proper investigation and resolution of causesthis provides efficiency to the risk controller. 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. <br><br> SME in OTC Derivatives' - Credit, FX and Rates - related events and lifecycle management<br> Experienced . 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 Second, it provides control,with tools to monitor and act on exceptions along with a cradle-to-grave audit trail. Development of Collateral Management related work (including some MxML/Exchange Workflows) Build new reports/extractions . 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. In addition to entries posting at transaction level, it supports concurrent inventory cost methods (e.g., FIFO, AVP, cherry picking) with robust capabilities to drill down to the contributors of the position providing accessible, reliable, transparent data. 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