In order to support its growth ambition in the global FX business, the Bank, decided to shift its entire FX infrastructure to Murex’s MX.3 platform. This shift enabled the bank to benefit from enhanced STP and operational efficiency, continuous global trading opportunities, and the robustness of technology architecture with proven scalability to handle a 10-fold increase in trading volumes.
Excelian conducted a complete front-to-back integration leveraging MXpress™, a methodology developed by Murex that combines a set of pre-packaged components and accelerated implementation. This enabled the bank to speed up the roll out of the platform using field-proven best practices while taking advantage of the latest platform innovations in relation to high volume trading.
The successful implementation gave the bank access to multiple interfaces and complex middleware allowing for the initial execution in excess of approximately 6000 FX trades per day, with the potential to increase exponentially in the future. Additionally circa 90,000 FX cash and FX Option deals were loaded into Murex, which involved the reconciliation of approximately 3,500,000 individual trade attributes.
Jeremy Ward, Excelian CEO stated that “the highly collaborative approach that we took with the bank allowed us to deliver a benchmark platform that now supports trade capture, trade processing, lifecycle management, position management and market data management. It significantly increases the capacity for FX volumes across the cash and options business, reduces operational risk and supports a 24/5.5 trading capability which will drive greater productivity and efficiencies.”
Maroun Edde, Group CEO at Murex, comments “We are proud to have seen our partnership with Excelian consolidated through such a stimulating project. It endorses our business model as we strive to keep a keen focus on our client’s needs and a consistent development strategy, to make sure both Excelian and Murex can, at all times, build and deliver on the client’s platform for growth”.
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