Murex Delivers Fully Managed SaaS Solution to Key Client in North America
Murex reaches successful milestone in its partnership with ATB Financial
PARIS, October 6, 2020 — Murex, the global leader in trading, risk, and processing solutions for capital markets, is pleased to announce it has reached a successful milestone in its partnership with ATB Financial (ATB), a leading and innovative Canadian financial institution and Crown corporation.
In 2017, Murex began working with ATB to provide its powerful MX.3 platform. Murex offered the flexibility of a fully managed SaaS solution that would allow the financial institution to customize business processes, boost innovation and maximize resilience, while leveraging Murex’s unrivaled functional coverage. The objective was to consolidate front-office, market risk (including Value at Risk), credit risk (including Potential Future Exposure), collateral and processing systems on a single platform and replace a variety of legacy systems. This replacement lowers the total cost of ownership and offers the best financial products to ATB’s customers.
MX.3 was selected as the unique front-to-back-to-risk platform for all activities in commodities, foreign exchange cash and options, and interest rate derivatives. The multi-year project was phased: after focusing on its interest rate desk in 2017, ATB’s foreign exchange desk moved to MX.3 in 2019. ATB’s commodities desk went live on MX.3 in July 2020, completing the path toward a fully managed SaaS solution.
Achieving this milestone is the final step toward one integrated and unified capital markets and treasury platform for ATB.
“ATB Financial's partnership with Murex allows us to offer a first-of-its-kind, best-in-class trading experience to ATB customers,” said Chris Turchansky, ATB’s chief experience officer. "Whether it is interest rates, foreign exchange or commodities, ATB’s Enterprise Trading Platform enables us to better support our customers’ complex trading needs.”
With a full turnkey model, Murex takes ownership of the MX.3 platform for production management, maintenance, disaster recovery, deployment and monitoring, as well as incident and change management. Murex also offers additional services for platform upgrades as part of the SaaS solution.
Joe Iafigliola, CEO of Murex Americas commented, “Murex has provided a best-of-breed solution tailored to a valued partner’s specifications. This successful implementation with ATB relied heavily on our engrained organizational agility, which has been honed with diverse partners to deliver the MX.3 solution on time and budget. Our model of close partnership served us well here. From 2017, when we started this project, we have collaborated proactively and constructively with ATB. Circumstances out of our control this year influenced—but did not slow—our march over the finish line. We look forward to a continued and fruitful collaboration with ATB as it meets the evolving needs of its customers.”