Murex Extends Scope at Mediobanca with Collateral Management, SIMM Solutions

MILAN and PARIS, September 3, 2024—Murex has successfully completed a new implementation of MX.3 solutions for collateral management and SIMM in partnership with Mediobanca. 

With this go-live, the Milan-based bank aimed to improve overall operational capacity, bolstering efficiency, rationalization and capitalization of investment. This new addition completes Mediobanca’s front-to-back operations, including accounting and payments, which now operate on a single system. 

The collateral scope includes OTC, cleared and listed derivatives, repos and securities. The core SIMM solution, including CRIF file generation and SIMM back-testing, represents an integrated process and allows Mediobanca to have real-time connectivity to process variation margins. 

Working closely with Murex—the global leader in trading, risk, and processing solutions for capital markets—Mediobanca’s IT architecture is now more integrated, including enhancement of interfaces and reporting. 

“We have a long-term strategy of updating core systems,” said Mediobanca’s group COO Marco Pozzi. “After a deep analysis performed to assess the best target software infrastructure, we decided to migrate collateral management to MX.3 and extended the scope to include initial margin management integration. Murex has a strong reputation in the collateral management space, with successful implementation achieved among a diverse group of clients. We are pleased with the collaboration and we are confident we have strengthened our framework and processes.” 

Murex representatives said that strong collaboration with Mediobanca throughout the implementation process, as well as clear objectives from the bank, were critical. 

“We are very pleased with this successful project,” Murex Co-founder and Managing Partner Philippe Helou said. “Collateral management and the SIMM addition are an important step forward in a long-term relationship with Mediobanca. We look forward to future collaboration and further innovation.”