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 our Bilateral Initial Margin solution, please download the flyer here.

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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MX.3 for Bilateral Initial Margin

Complete out-of-the-box solution