Modern slavery act

Public statement

Murex S.A.S. (“Murex”) and its affiliates (collectively, the “Murex group”) are dedicated to upholding the highest standards of integrity and ethics in the countries where they operate.  Pursuant to Section 54 (Part 6) of the United Kingdom Modern Slavery Act (2015), this statement outlines the steps Murex takes to ensure forced labor and human trafficking are not present in its supply chain or any part of its business. Murex takes its compliance seriously.

Context on the Murex business and structure

Murex develops, distributes and licenses MX.3, an integrated trading, risk management, processing and post-trade software platform used by capital markets customers. Murex also provides support services and technical assistance to clients. 

The Murex group operates globally through subsidiaries in Europe, the Middle East and Africa, Asia-Pacific and the Americas.  

The Murex group has offices in 19 countries, including in major financial centers. Murex’s main offices are in Paris, New York, Beirut and Singapore. The location of main regional hubs and spoke offices is accessible on the Murex website at https://www.murex.com/offices.

MX.3 is developed by Murex, a privately held company incorporated in France. With approximately 1,000 team members in Paris, Murex is the largest affiliate.

Murex is a wholly owned subsidiary of Murex International Luxembourg S.A., a Luxembourg company that directly or indirectly controls all Murex group affiliates.

Murex licenses MX.3 software and provides related maintenance services and technical assistance to its customers in the U.K. from its Paris offices, with the assistance of Murex (U.K.) Limited, an affiliate registered in England and Wales, whose head office is located at 108 Cannon Street, London EC4N 6EU.

Murex (U.K.) Limited primarily provides MX.3 software maintenance services and technical assistance to clients.

Murex employment, anti-discrimination and anti-harassment policies

Internally, Murex’s workforce diversity is considered a core strength. Murex endeavors to provide a safe and open work environment that promotes dialogue, teamwork and collegiality.

Murex is committed to implementing strict anti-discrimination and anti-harassment rules. The internal regulation of Murex specifically prohibits, in particular, any form of moral or sexual harassment.

Murex team members are generally highly skilled and educated. They hold business, engineering and/or computer science degrees, among others, and work with Murex under standard employment contracts. All Murex candidates undergo intensive screening by the Murex human resources department and other teams before an offer of employment is made.  In some cases, Murex also obtains references from prospective employees and conducts background checks (as appropriate and to the extent permitted by applicable laws).

Murex partners with system integrators and technology firms

The Murex group has partnership programs with system integrators and technology firms that provide a range of services related to the Murex software program directly to Murex clients and to Murex or its affiliates.

Murex may request that these partners provide services for the direct benefit of Murex or to act as Murex subcontractors in connection with certain projects, particularly those relating to the implementation or Murex software upgrades.

The Murex alliance team is responsible for identifying and selecting such partners and for managing partner relationships.

Potential partners are subject to a vetting process by Murex designed to ensure such partners have the necessary resources, experience and expertise to deliver services that meet Murex professional standards.

The personnel of Murex partners are generally trained information technology specialists who hold computer science or other IT degrees.

Murex suppliers and hardware manufacturers

Apart from those of its partners who provide services to Murex, the largest Murex suppliers are hardware manufacturers and software vendors based in the United States, the United Kingdom or in the European Union that provide the IT equipment, infrastructure and software necessary for the conduct of its business activities by Murex.

Other services Murex procures from suppliers essentially relate to:

• Murex office functionality and operations,
• accounting, legal and tax advisory,
• human resources and training-related services,
• marketing and communications,
• technical assistance in connection with the support of Murex IT systems, and
• travel services.

Murex’s selection process for suppliers and partners is supervised by relevant teams within Murex ordering the services, goods or equipment, the procurement department, and/or the office manager, as applicable.

Given the nature of Murex business activities, the services provided by Murex to customers do not rely on the procurement of goods or services specifically manufactured or provided to Murex by suppliers established in countries where modern forms of slavery are prevalent.

As part of its procurement policies, Murex requires suppliers to act in strict compliance with applicable labor laws. Murex regularly verifies that suppliers have fulfilled legal obligations, particularly the payment of taxes and social charges in accordance with applicable regulations in France.

Assessment of risk

Murex business activities, the services it procures and the level of education of most of its employees and contractors give Murex a high degree of confidence that the risk of slavery or human trafficking occurring at the personnel, partner or supply chain level is very low.

Measures taken to prevent modern slavery and human trafficking

In addition to recruitment and procurement procedures, Murex has adopted a code of corporate social responsibility applicable to all its affiliates. The code serves as a general framework prohibiting any behavior or action that would violate any applicable law or international treaty on human rights, human trafficking or modern slavery. Murex expects its partners and suppliers to adhere to the same principles as those set forth in its corporate code of social responsibility.

Murex also places strict obligations on its legal representatives and employees to act in accordance with all applicable labor laws and regulations in France.

Given the very limited level of risk of modern slavery or human trafficking occurring either in its business or in its supply chain, Murex does not implement a particular program specifically aimed at identifying risks or instances of modern slavery, other than existing internal policies and procedures applied by Murex human resources and procurement departments.

Annual review

This statement has been approved by Murex’s executive committee (“board”) and signed by the President of Murex.

On an annual basis, the Murex board will review its existing policies and this statement and assess the risk of modern slavery and/or human trafficking and in its supply chain and revise, adjust and update the statement and company policy accordingly. The board will also draw on the expertise of the human resources and the procurement departments for such purposes.

Maroun Eddé

President of Murex S.A.S.