MX.3
FOR BILATERAL INITIAL MARGIN
Achieve regulatory compliance while embedding IM in your trading and risk decisions
The Basel & IOSCO committees’ final text on margin requirements for non-centrally cleared derivatives, BCBS 317, mandates the posting of Initial Margin between bilateral OTC counterparties. With a 4-year phase-in period through to 2020, the largest banks started exchanging Initial Margin in September 2016.
COMPLETE OUT-OF-THE-BOX SOLUTION
MX.3 provides a comprehensive pre-packaged solution for Bilateral Initial Margin for easy and timely deployment. Uniquely, MX.3 can generate the risk sensitivities for all non-cleared OTC derivatives, which can be combined with externally-fed risk sensitivities for some asset classes, if required. These are mapped to the appropriate SIMM™ buckets for eligible trades and products, as per the collateral agreement data. MX.3 calculates SIMM™ and generates CRIF files, which can be shared with third parties via the Acadiasoft connector and/or directly generate IM margin calls within MX.3.
SMOOTH REGULATORY APPROVAL PATHWAY
MX.3 for Bilateral Initial Margin eases the regulatory approval pathway with comprehensive support for back-testing Initial Margin calculations.
If you wish to learn more about the MX.3 for Bilateral Initial Margin solution, covering both the SIMM™ and Schedule-Based approaches, please download the flyer.
Functional Coverage
Risk sensitivities
Packaged cross-asset risk sensitivities for all vanilla and exotic non-cleared OTC derivatives.
Regulatory compliance
BCBS 317 compliant. Margin call processing for VM and IM calls. Schedule-based and SIMM™ calculation methods.
Enterprise-wide solution
Option to aggregate additional risk sensitivities from 3rd party systems. Enterprise data repository.
Fully Integrated
IM-specific flows in Collateral Management processes. Embed Initial Margin calculations in intra-day trading & risk decisions.
Packaged integration
CRIF file generation. Acadiasoft™ Exposure Manager for IM connector. Crowd-sourced bucket assignments.
Official SIMM™ vendor
Murex is an officially licensed ISDA SIMM™ vendor.
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CASE STUDY: China CITIC Bank International
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