Banorte Taps Murex for FX Derivatives Trading Solutions

Banorte Taps Murex for FX Derivatives Trading Solutions

Time Stamp: November 9, 2023 8:56 AM
Banorte Taps Murex for FX Derivatives Trading Solutions PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Grupo Financiero Banorte has partnered with Murex to
enhance FX derivatives trading for corporate clients. This move involves
implementing a self-service solution through the MX.3 platform, Murex’s
integrated platform, to enhance efficiency in FX derivatives trading processes.

Abraham M. Izquierdo, the Managing Director for
Traded and Treasury Risks at Banorte, mentioned: “The Banorte
transformation journey has involved many breakthroughs. However, one of the
most significant milestones has been the self-service product offering. This
offering aligns closely with Banorte’s digital strategy and meets the specific
expectations of our client base.”

Banorte has adapted its internal workflows and risk
management procedures to accommodate this self-service offering. The
integration of MX.3 software eliminates the need for manual processes,
significantly reducing errors and delays, the company said. Through automation ,
Banorte has managed to increase resource efficiency, saving up to 38 percent of
person-hours for users.

This collaboration between Banorte and Murex builds
upon their 12-year history of working together. Over this time, Banorte has
expanded its use of MX.3, incorporating new modules and asset class coverage.
In 2022, Banorte created a new XVA desk and revamped its PFE limits management,
selecting Murex to support its risk and front office teams.

Conversely, Murex has been expanding its operations
globally. Last month, Rabobank and Murex rolled out operations based on the
MX.3 platform in Brazil. Rabobank’s implementation in Brazil encompasses various
onshore and offshore products, leveraging the integrated capabilities of the MX.3 platform.

Murex’s Strategic Partnerships

It covers aspects such as trade capture, pricing,
position, and treasury management, post-trade and settlement processes,
reporting, market analysis, credit and liquidity risk management , P&L
calculation, and subledger accounting generation.

Besides that, Murex announced its partnership with
the London Stock Exchange Group (LSEG) in May. The partnership allowed for integrating
the MX.3 platform with LSEG through Amazon Web Services. This collaboration
introduced a significant advantage for financial firms by providing fast access to real-time market data from multiple global
exchanges and over-the-counter markets via the cloud.

With this connectivity, Murex’s clients can choose
how they want to retrieve real-time market data within the MX.3 platform. They
can select from three distinct deployment models offered by LSEG, all of which
are designed to cater to different client preferences and requirements.

Grupo Financiero Banorte has partnered with Murex to
enhance FX derivatives trading for corporate clients. This move involves
implementing a self-service solution through the MX.3 platform, Murex’s
integrated platform, to enhance efficiency in FX derivatives trading processes.

Abraham M. Izquierdo, the Managing Director for
Traded and Treasury Risks at Banorte, mentioned: “The Banorte
transformation journey has involved many breakthroughs. However, one of the
most significant milestones has been the self-service product offering. This
offering aligns closely with Banorte’s digital strategy and meets the specific
expectations of our client base.”

Banorte has adapted its internal workflows and risk
management procedures to accommodate this self-service offering. The
integration of MX.3 software eliminates the need for manual processes,
significantly reducing errors and delays, the company said. Through automation ,
Banorte has managed to increase resource efficiency, saving up to 38 percent of
person-hours for users.

This collaboration between Banorte and Murex builds
upon their 12-year history of working together. Over this time, Banorte has
expanded its use of MX.3, incorporating new modules and asset class coverage.
In 2022, Banorte created a new XVA desk and revamped its PFE limits management,
selecting Murex to support its risk and front office teams.

Conversely, Murex has been expanding its operations
globally. Last month, Rabobank and Murex rolled out operations based on the
MX.3 platform in Brazil. Rabobank’s implementation in Brazil encompasses various
onshore and offshore products, leveraging the integrated capabilities of the MX.3 platform.

Murex’s Strategic Partnerships

It covers aspects such as trade capture, pricing,
position, and treasury management, post-trade and settlement processes,
reporting, market analysis, credit and liquidity risk management , P&L
calculation, and subledger accounting generation.

Besides that, Murex announced its partnership with
the London Stock Exchange Group (LSEG) in May. The partnership allowed for integrating
the MX.3 platform with LSEG through Amazon Web Services. This collaboration
introduced a significant advantage for financial firms by providing fast access to real-time market data from multiple global
exchanges and over-the-counter markets via the cloud.

With this connectivity, Murex’s clients can choose
how they want to retrieve real-time market data within the MX.3 platform. They
can select from three distinct deployment models offered by LSEG, all of which
are designed to cater to different client preferences and requirements.

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