Murex (financial software)

Murex
Société par actions simplifiée = Software industry, Financial services
Founded 1986 (1986) in Paris, France
Headquarters Paris, France
Number of locations
 17
Revenue 460 Mio. Euro
Website www.murex.com Edit this on Wikidata

Murex is a company providing technology solutions for trading, treasury, risk, and post-trade operations for financial markets.[1]

Murex was founded in 1986 in Paris by Laurent Néel and Salim Edde, who were soon followed by Salim’s three brothers and his brother-in-law. The company has grown organically and today employs a multi-national force of over 2,000 employees worldwide.[2]

Its main office is in Paris and it has 17 global offices in cities such as New York, London, Dublin[3], Hong Kong, Beirut, Sydney and Singapore.[4] Murex has customers located in 70 countries.[2] Murex’s platform, MX.3, is used by banks, asset managers, pension funds and insurance companies. Its clients include UBS[5], the National Bank of Canada[4], the Bank of China[6], OCBC Bank[7], China Merchants Bank[8] and ATB Financial[9].

Maroun Edde is the current Chief Executive Officer.[1]

According to Syntec, Murex has been ranked the 5th biggest French software company by revenue in 2017. [10]

History

In 2013, National Australia Bank undertook an overhaul of its trading operations by going live on MX.3 to support its FX trading and processing. MX.3 was first adopted in Melbourne and subsequently rolled out to its international operations on a phased basis.[11]

In 2014 the Singaporean-based bank, DBS, adopted MX.3 in its risk management operations.[12]

UBS announced that it had chosen Murex’s software to replace a large part of its fixed income platform technology, including the booking of trades, valuation and risk management. This was considered to be a significant technology shift by a large lender at the time, driven by the need to cut costs and replace a patchwork of systems with a standardised solution.[5]

In the Truffle 100 rankings for 2016, Murex became the third largest French software publisher with an announced turnover of 460 million euros.[13] It employs around 2,200 employees worldwide, including 800 in Paris.

Murex partnered with Tullet Prebon, allowing them to use TPI data for internal model validation.[14]

China Merchants Bank (CMB) went live on Murex’s MX.3 trading platform to improve the technology at its Shenzhen and Shanghai operations, following the bank becoming one of the first Chinese financial institutions to join the R3 blockchain consortium.[8]

Murex took part in the pilot project for Teen Turn in Dublin, an initiative that is seeking to create a talent pipeline for women in science, technology, engineering, and mathematics (STEM). [15]

Murex announced its partnership with Microsoft, bringing MX.3 into the cloud with certification on Microsoft Azure.[16]

Salim Edde, one of the founders of the company, is referenced in the Panama Papers.[17]

ATB Financial began the first phase of moving its infrastructure and application management into the cloud with the implementation of Murex’s MX.3 Software-as-a-Service (SaaS) solution in August 2017.[18]

In 2017, Murex collaborated with Amazon Web Services to make MX.3 available on Amazon’s cloud platform. MX.3 on the cloud can be used for applications such as development and testing, running production processes, disaster recovery and for accessing cloud-based managed services.[19]

In 2018, Nationwide Building Society went live on MX.3 to replace its legacy system and secure wider funding sources, review pricing rules and implement tighter risk, liquidity and collateral controls.[20] Murex partnered on the project with Sapient Global Markets who delivered testing automation to fast-track deployments.[21]

Italy-based Banca IMI, a subsidiary of Intesa Sanpaolo, migrated its equity derivatives business to MX.3 as part of a technology update for its capital markets business.[22]


References

  1. 1 2 "Company Overview of Murex S.A.S". Bloomberg. Bloomberg L.P. Retrieved 10 October 2017.
  2. 1 2 >Mokbel, Liliane (3 February 2017). "Salim Edde. Un entrepreneur philantrope qui a du flair". Magazine Le Mensuel (in French). Retrieved 16 February 2018.
  3. ↑ "Murex Software Firm Expands Workers". Irishdev.com. 10 January 2011. Retrieved 21 November 2017.
  4. 1 2 Risk.net Staff (25 January 2017). "Market risk technology vendor of the year (system): Murex". Risk.net. Infopro Digital Risk. Retrieved 10 October 2017.
  5. 1 2 Schäfer, Daniel (19 January 2014). "UBS to outsource fixed income trading platform". Financial Times. London. Retrieved 21 November 2017.
  6. ↑ Dew-Jones, Steve (31 January 2013). "Bank of China Implements Murex Platform". Waters Technology. Retrieved 10 October 2017.
  7. ↑ Tan, Esther (5 December 2012). "OCBC eliminates inefficiencies by automating and standardising end-to-end systems". The Asian Banker. Retrieved 21 November 2017.
  8. 1 2 Hamilton, Alex (22 August 2017). "China Merchants Bank goes live with MX.3 from Murex". IBS Intelligence. Retrieved 21 November 2017.
  9. ↑ Hamilton, Alex (16 October 2017). "China Merchants Bank goes live with MX.3 from Murex". IBS Intelligence. Retrieved 21 November 2017.
  10. ↑ Goya, Chisato (4 October 2017). "Voici les 10 premiers éditeurs de logiciels français". businessinsider.fr. Retrieved 18 July 2018.
  11. ↑ Whybrow, Martin (6 February 2013). "Case study: National Australia Bank – NABbing the advantage". IBS Intelligence. Retrieved 16 February 2018.
  12. ↑ Aggarwal, Neeti (2 September 2014). "Combining vendor-based and in-house solutions helped DBS optimise risk management capabilities". The Asian Banker. Retrieved 21 November 2017.
  13. ↑ http://www.truffle100.fr/2017.html, section Palmarès
  14. ↑ Faulkner, Joanne (19 January 2014). "Murex Adds Tullet Prebon OTC Data". Waters Technology. London. Retrieved 22 February 2017.
  15. ↑ Burke, Elaine (11 February 2017). "Teen-Turn: A direct link to STEM careers for young women". Silicon Republic. Retrieved 21 November 2017.
  16. ↑ Dudley, Sean (18 October 2017). "Sibos 2017: Murex's MX.3 platform coming to Microsoft Azure". The Record. Retrieved 28 November 2017.
  17. ↑ http://www.lemonde.fr/panama-papers/article/2016/04/09/panama-papers-de-riches-francais-muets-sur-leurs-montages-offshore_4899119_4890278.html, Maxime Vaudano and Jérémie Baruch: Panama papers: de riches Français muets sur leurs montages offshore
  18. ↑ Hamilton, Alex (16 October 2017). "ATB goes live with Murex solution". IBS Intelligence. Retrieved 28 November 2017.
  19. ↑ Davidson, Clive (12 December 2017). "Murex moves flagship trading and risk system on to cloud". Risk.net. Retrieved 16 February 2018.
  20. ↑ Lomax, Jenna (17 January 2018). "Murex's MX.3 goes live at Nationwide". Securities Lending Times. London. Retrieved 17 July 2018.
  21. ↑ Boyle, Bill (17 January 2018). "Nationwide Building Society goes live with Murex MX.3 risk platform". IBS Intelligence. Retrieved 17 July 2018.
  22. ↑ Hamilton, Alex (6 February 2018). "Banca IMI migrates to Murex MX.3 platform". IBS Intelligence. Retrieved 17 July 2018.
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