Trading system – Fixed income, currencies, credit
Didier Loiseau, Murex
MX.3 has a range of modules for trading fixed income, currencies and credit, with front-to-back office and risk management functionality. Together, they provide wide product coverage, with more than 350 payouts and the flexibility to create new products. For example, fixed income payouts include total return, portfolio and butterfly swaps, as well as range accruals, calendar spreads, target accrual redemption notes, target redemption forwards with payback features, and US Treasury locks.
MX.3 for Fixed Income Trading covers linear and non-linear rates, inflation and bonds, including vanilla and complex bonds, swaps and options. MX.3 for FX Cash Trading offers high-throughput capacity and performance, and supports position consolidation, risk management and post-execution processes. MX.3 for FX Options Trading supports the development of new business via electronic distribution of vanilla and exotic products to end-user clients. MX.3 for Credit Trading optimises flow credit trading, spreads trading and credit risk hedging of corporate and emerging market bonds. It streamlines end-to-end processes, including interaction with affirmation, execution and clearing platforms, as well as the automation of credit events processing. It also provides functionality for asset- and mortgage-backed securities desks. Murex also offers extensive support for Ibor transtion – see Best support for Libor reform, above.
Judges said:
- “Murex’s MX.3 covers all the relevant asset classes and products and has significant achievements in terms of models, risk management, pricing, trading and technology.”
- “The company’s large client base globally helps it continue to make significant developments, including on Libor transition.”
Didier Loiseau, head of rates, bonds and credit, Murex, says:
“We believe there are several key differentiators that make Murex’s MX.3 platform the software solution of choice for many of the world’s leading financial institutions with fixed income, currencies and credit trading activities. First, our rich catalogue of pricing models, including cutting-edge multi-curves analytics and collateral-based discounting, provides our customers with a decisive advantage in today’s market. Our real-time portfolio management capabilities, providing real-time explanation of P&L and risk throughout the trading day, is also a real strength. Finally, Murex has made massive investment in the past two years to offer clients a comprehensive Ibor discontinuation solution addressing all the key challenges it poses.”
