-
Our solutions
- Our clients
With 300 clients and 60,000 users spread across 60 countries around the world, Murex has a truly international client base of capital markets participants.
view all case studies- Insights
- Who we are
Our awards highlight a strong level of customer satisfaction and acknowledge our market expertise.
Visit our awards webpage- Our partners
- Careers
JUL
08Bankdata Reaches New Milestone on Time in Strategic Re-platforming with Murex’s MX.3 Solution
Innovative bank utility model extends the scope of coverage and announces additional banks are now live on the platform
PARIS, July 8, 2020 — Murex, the global leader in trading, risk, and processing solutions for capital markets, is pleased to announce that Danish IT service provider Bankdata has reached a new successful milestone in their front-to-back-to-risk re-platforming project.
In 2016, Bankdata, Murex and Synechron began their partnership which will provide Danish banks with MX.3 as a core shared platform for its utility service in order to rationalize their treasury management and capital markets’ activities. The objective was to consolidate existing front-office and risk management systems on a single platform and replace a legacy back office system. Its members could then benefit from an integrated cross-asset front-to-back-to-risk solution with support for regulatory compliance, lowering the total cost of ownership of supporting IT, and increasing efficiencies through the consolidation of IT resources.
In May 2020, caps, floors, swaptions, FRAs and callable swaps were added to the solution. Bankdata initiated the re-platforming project to offer an integrated and mutualized solution that covers the whole trade life cycle of Jyske Bank and Sydbank. These services have now been extended to support Ringkjøbing Landbobank and Alm. Brand Bank treasury management, coming just six months after the previous go-live.
Reaching this new successful milestone is another important step along the way towards one integrated and unified capital markets and treasury platform. The key objectives of this new successful phase, which was achieved on time and within budget, were not only to extend the asset classes coverage, but also to demonstrate the benefits of adopting shared standard configuration and test automation.
Bankdata is now accelerating the evolution of the platform, with the ability to rapidly onboard new banks including training, support, and maintenance. Furthermore, Bankdata gets the latest innovations through timely and regular Murex product updates.
The next phase of the program is scheduled by the end of 2020 with the onboarding of the remaining Danish banks and the implementation of solutions to comply with FRTB regulation. The MX.3 solution will become available for all banks of the Bankdata consortium. The banks will be able to select the functionality that they require and benefit from a modern cross-asset platform with continuous adaptation to regulatory reform, as well as simpler and more efficient IT infrastructure.
Mogens Sørensen, Vice President at Bankdata explains, “This new successful milestone which has been conducted on time despite the challenges of the Covid-19 lockdown is another fantastic achievement. Ringkjøbing Landbobank and Alm. Brand Bank can now profit from a best-of-breed solution covering the full life cycle of a trade without the burden of maintaining an IT infrastructure. The acquisition of Murex’s knowledge and experience around continuous delivery and agile implementation methodologies enables Bankdata to reduce total cost of ownership and improve front-to-back efficiencies for our member banks.”
Jean-Gabriel Eddé, Managing Partner at Murex comments, “Since its inception, Murex has played a crucial and leading role in developing innovative solutions to the capital markets industry. Driven by innovation, this partnership with Bankdata is a new model for delivering best practices to banks through a mutualized and shared platform that delivers real-time position management, consistent and fast calculation for trading and risk management, and straight-through processing. Capital markets are evolving at a quick pace and our joint mission is to manage the complexity while banks can concentrate on their core business and explore new investment strategies."
Since last year, Bankdata has piloted one of the first deployment of Murex suite of continuous delivery tools in close collaboration with Synechron, paving the way to continuous integration of changes. Synechron, a strategic Murex partner, has been part of the Bankdata re-platforming program since day one. Bankdata has been leveraging Synechron’s testing services to achieve predictable and shortened go-live cycles. Thanks to the usage of Murex testing tool (MXtest), today 92% of the system tests are automated and executed frequently on the latest version of the configurations.
Murex and Synechron managed to reach the expected goal of onboarding new banks and adding new assets despite the recent global pandemic.
Jawad Cherkaoui, Senior Director at Synechron, Head of the Murex CoE, comments, “One of the missions of our techno-functional experts is to accelerate digital initiatives for investment banks and simplify implementation complexities. This partnership with Bankdata and Murex is critical for us as we are building a unique IT utility model in the market. As we developed a full test pack with continuous integration, we facilitated the smooth knowledge transfer giving ownership of the Murex platform to Bankdata. This new successful roll-out is testament of how technology can quickly transform capital markets through agile practices and excellent delivery.”
Latest news
05 May 2025
Murex Wins Most Innovative API Framework/Microservices Architecture for Trading Category via A-Team
10 Apr 2025
Amundi Technology Partners with Murex to Deliver Superior OTC Derivatives Capabilities to Investment Managers
13 Mar 2025
Murex Strengthens Internal Controls, Security Best Practices Commitment with SOC 1, SOC 2 Compliance
Attestation underscores IT, security benchmarks for managed services providers
07 Jan 2025
Bank of Hangzhou Extends Scope on MX.3 with FRTB Solution
Murex deepens cooperation with China's leading city commercial bank
10 Dec 2024
Murex Wins Best Vendor for System Support and Implementation at Risk.net Markets Technology Awards
Company also secures FRTB (IMA) product of the year, Trading systems: structured products/cross-asset distinctions
05 Dec 2024
Murex Nets Two IBSi Global Fintech Innovation Awards
Fintech leader recognized for work with Alinma Bank, wins treasury, Islamic banking categories
03 Dec 2024
Boubyan Bank Completes MX.3 Implementation for Sharia-compliant Treasury Activity
Significant technology milestone reached in IT transformation for Islamic financial institution
08 Oct 2024
Murex, Kaiko Partner to Enhance Real-time Portfolio Management for Digital Assets
Collaboration integrates comprehensive digital assets data into MX.3 platform, extends the reach of cryptocurrency market data and indices
30 Sep 2024
Murex Wins Best Technology Provider for FX Options at Euromoney’s Foreign Exchange Awards
Solution used by over 130 banks and financial institutions around the world
27 Sep 2024
Murex Wins Five Asia Risk Technology Awards Categories
Outstanding result underscores company commitment to fintech innovation and regional leadership
- Our clients