August 17, 2017
– Murex replaces enterprise legacy system across all asset class –
Murex, a global leader in trading, risk management and processing solutions, is pleased to announce the successful launch of the MX.3 platform at China Merchants Bank (CMB). As one of China’s largest commercial banks, CMB financial market department currently averages 8,000 trades per day with a portfolio of 320,000 live trades on MX.3.
CMB decided to launch the project to implement an enterprise-wide solution for their capital markets teams based in Shenzhen and Shanghai. This was done in order to improve control over their end-to-end trading cycle from front-to-back through risk, streamline and automate their operations, and enable new business. Murex’s MX.3 platform was selected as it provided the functional, geographical and product coverage that was required by the bank. Covering Front Office, Processing, Finance, and Risk Management, MX.3 also provides VaR analytics across all asset classes.
By selecting MX.3, CMB can now significantly increase working efficiency and productivity while simultaneously reducing their operational risk with a single platform.
Commenting on the implementation, CMB’s Chief Technology Officer, Mr. Chen said, “Murex is a market leader in cross-functional platforms that has given us confidence quite early in the process with their advanced platform, their track record around the world and the experience of their local team. After such a smooth transition and implementation, we are excited to see what the future holds for our partnership with Murex, and build upon the success achieved to date”
Tarek Barada, General Manager of Murex China remarked “We are extremely pleased with the successful implementation of MX.3 into CMB. The solution will help the bank to rationalize their IT architecture whilst controlling total cost of ownership. Our platform will also enable them to be agile in the face of new regulatory obligations, such as FRTB. We look forward to working closely with CMB as they expand into new territories and businesses.”
About China Merchants Bank (www.cmbchina.com)
Established in 1987, CMB has become one of the largest commercial banks in China. As of end of 2016, CMB has 70,000 employees spread on sub branches in more than 130 cities across China, 1,900 subsidiaries globally and 6 branches with 3 representative offices overseas.
For many consecutive years, CMB has been ranked among China’s top commercial banks according to comprehensive assessment by CBRC, and it was also listed No.60 among the world’s Top 1,000 Banks by The Banker.
About Murex (www.murex.com)
For more than 30 years, Murex has been providing enterprise-wide, cross-asset financial technology solutions to capital markets players. Its MX.3 platform supports trading, treasury, risk and post-trade operations, enabling clients to better meet regulatory requirements, manage enterprise-wide risk, and control costs. With more than 45,000 daily users in 65 countries, Murex has clients in many sectors, from banking and asset management to energy and commodities.
Murex is an independent company with 2,000 employees across 17 countries. Murex is committed to providing cutting-edge technology, superior customer service, and product innovation.