A Fantastic Night of Success for Murex at the Risk Awards 2020
Paris, France, 28 November 2019
Murex, a global leader in trading, risk management and processing solutions for capital markets, has been recognized as the technology vendor of the year in the Risk Awards 2020 and has scooped five awards in the Risk Markets Technology Awards. Murex was successful in the following categories:
- Market risk management product of the year
- Counterparty risk product of the year
- Best trading system for structured products/cross-asset
- Best trading system for fixed income, currencies, credit
- Best vendor for system support and implementation
The MX.3 Enterprise Risk Management suite received recognition in both the market risk and counterparty risk categories at this year’s award ceremony. Keeping up with increasingly demanding regulatory compliance obligations is a major burden for financial institutions, requiring them to develop risk-based business models. In response, Murex provides a comprehensive framework for this and continue to scale the footprint of its regulatory solutions including FRTB, SA-CCR and ISDA SIMM to lighten this burden. For example, MX.3 for SA-CCR aims to simplify, speed up and reduce the total cost of regulatory compliance by leveraging a single platform to answer cross-regulation requirements.
The trading systems awards in both the structured products/cross asset and fixed income, currencies and credit categories, come as a result of Murex’s continued investment in a common and consistent framework for all asset classes, a fully integrated chain of front-to-back-to-risk and best-of-breed solutions for specialized trading desks. Murex’s latest innovation to clients is its reform solution for the LIBOR transition. The move away from LIBOR towards risk-free rates holds many challenges for capital markets players. With this 2021 deadline fast approaching, Murex has already developed a new solution addressing the reform of interest rate benchmarks across multiple jurisdictions. The solution includes a powerful impact analysis tool to provide visibility on the full business impact of the reform and automated transition mechanisms.
For the second successive year, Murex was named the best vendor for system support and implementation. This award recognizes the unique service organization at Murex and its investment to support clients along their continuous deployment journey. Carefully designed through years of partnership with financial institutions around the world, Murex Services provide clients with premium support every step of the way along the software deployment cycle.
Speaking about the wins, in particular the technology vendor of the year award, Maroun Edde, CEO of Murex comments, "We are delighted with the results announced this week and would like to thank Risk.net and the industry for recognizing the quality of both our people and our product. Murex continues to inject the latest technologies into our MX.3 platform and enhance how we deliver flexible solutions to our clients. These awards reflect this strong commitment to innovation and to helping financial institutions successfully transform their IT to meet the demands of a challenging market."