Murex Surpasses 2020 Success at Risk Awards and Risk Markets Technology Awards 2021
Paris, France – February 4, 2021
Murex, a global leader in trading, risk management and processing solutions for capital markets, surpassed last year’s success in the annual Risk Awards and Risk Markets Technology Awards, retaining the technology vendor of the year prize and securing six top honors, including two new category wins. The full slate of category wins follows:
- Best support for LIBOR reform
- Trading systems: fixed income, currencies, credit
- Trading systems: equities
- Pricing and analytics: structured products/cross-asset
- Counterparty risk product of the year
- Best vendor for system support and implementation
“We are, of course, delighted to win the prestigious technology vendor of the year award once again,” said Murex CEO Maroun Eddé. “That said, an award that brings particular pride and satisfaction is best vendor for system support and implementation. To fully support client productions over a challenging year, our team executed innovative processes to ensure business continuity and adapted delivery methods.”
For the third consecutive year, Murex has been named as best vendor for system support and implementation, meaning clients benefited from a unique client support model, despite the difficult period.
Murex also won new categories this year, including best support for LIBOR reform. Murex prizes this win—the impacts of the IBOR reform on the capital markets industry are significant and complex. Having anticipated LIBOR transition implications early, Murex invested quickly to adapt business processes from pricing and valuation right through to risk management and operational processing.
This effectively ensured clients could start trading new RFR instruments quickly in a clean and sustainable manner. Developing specific transition events for various products and smoothly managing the discounting switch at major CCPs were also key to success in 2020. Murex technology facilitated the first transaction based on THOR, the new Thai reference rate, completed by Kasikornbank (KBank).
The MX.3 Enterprise Risk Management suite once again received recognition in the counterparty risk product of the year category. Financial institutions in today’s climate must keep pace with increasingly demanding regulatory compliance obligations, requiring them to develop risk-based business models. At Murex, regulatory packages and standardized approaches are continuously enhanced. Several clients have recently gone live with the SA-CCR requirements and are able to fully benefit ahead of the deadline from automated data normalization and calculation capabilities that lower EAD and capital charge.
For the second consecutive year, Murex won the trading systems: fixed income, currencies, credit category, where our leadership is well-established. Murex also picked up a victory in the trading systems: equites category. Murex’s comprehensive set of risk measures, accurate trade representation and overall capacity to manage rising volumes have recently been essential for our clients. The MX.3 solution also supports critical business lines, with more than 20 clients currently leveraging integrated platform capabilities to manage autocallables.
“These wins reinforce our commitment to helping financial institutions successfully transform their IT systems to meet the demands of a challenging market,” Maroun Eddé said. “We thank Risk.net and the industry for recognizing the quality of our people and our product.”