Bankdata Expands Use of Murex’s Capital Markets Platform, MX.3
Bankdata, an IT service provider to the Danish banking industry, has recently gone live with another stage of its transformation program. Bankdata recently migrated interest rate and cross-currency swaps from its legacy systems to Murex’s MX.3 platform, the leading solution for trading, risk management and processing for the capital markets.
Simplification of system landscape with Murex’s platform, MX.3
Bankdata is currently implementing MX.3 for Jyske Bank and Sydbank and will soon extend to the rest of the member banks. This gives the banks the benefit of economies of scale in terms of support and daily operations. One of the major advantages of the Murex platform is that it allows the two banks to improve operational efficiency by retiring several legacy systems and manual work processes and migrating to a common shared platform that covers the whole trade lifecycle, from trading and risk management all the way through to accounting.
“Murex’s platform provides a coherent interface to our customers where we have all data – from pricing, to confirmation and posting – in one system”, says Pia Brink Andersen, department director from Customer, Interest and Currency in Sydbank. Pia adds “We have increased speed and flexibility in our trades and can now offer a much better service. We have greater transparency, which is a plus for both our customers and future regulatory requirements. Regulators are applying pressure on banks and in particular on their underlying settlement and clearing systems, which will be expected to move towards real time. By having all trades and functionalities in Murex’s MX.3 platform, the system already supports all processes in real time and thus secures the future of the bank”.
“With this milestone we part ways with outdated systems and manual processes. Concretely, MX.3 gives our employees better opportunities with one common system including faster pricing, shared data for market risk calculation and reporting, together with automatic settlement processes. We are implementing a capital markets platform that is secured for the future, and will be able to meet client and market demands as they arise. The Murex platform will play an important role in increasing client and trade volume”, says Lene Hjortshøj, Area Director in Capital Development in Jyske Bank.
Commenting on the project, Maroun Edde, CEO Murex said: “Murex and Bankdata in conjunction with Denmark’s leading banks, are carving out a new model in capital markets technology. Banks are under pressure to reduce costs, improve efficiency and customer service while complying with complex regulations. Their underlying technology is often the key to success or failure and Bankdata’s utility approach is an innovative and promising alternative to the traditional deployment model.”
"The capital markets are a very specialized sector and the MX.3 platform is purpose built to manage the complexity. We have a very close relationship with Murex and have benefitted greatly from the designated project organization they established, which supports the high degree of cooperation and flexiblity required." says Flemming Krath Engedal, CIO for Capital Markets and Finance in Bankdata.
An open capital markets platform that is ready for the future
This latest extension of the MX.3 platform is another step along the road towards one shared capital markets platform. Since Bankdata licensed MX.3 the company continues to extend its use to cover additional business lines. The platform is already used for FX options, interest rate and cross currency swaps and all derivatives, securities and fixed income desks will be migrated in the future.
The result will be a capital markets first. Bankdata will be able to offer banks highly advanced risk calculation, trading and settlement data centralized in the MX.3 platform and powered by Murex, a global leader in capital markets technology.
Bankdata is one of the biggest finance-IT companies in Denmark with 700 employees. Bankdata provides complete IT solutions for the financial sector, meaning all the IT a bank needs - including the development of network and mobile banking, credit and advisory tools, support and security. Bankdata is owned by 11 Danish banks, who are also Bankdata's customers. Bankdata takes pride in meeting the customers' needs for secure and reliable IT and provide innovative solutions, so they are fully competitive.
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 cross-function platform, MX.3, supports trading, treasury, risk and post-trade operations, enabling clients to better meet regulatory requirements, manage enterprise-wide risk, and control IT costs. With more than 50,000 daily users in 60 countries, Murex has clients in many sectors, from banking and asset management to energy and commodities.
Murex is an independent company with over 2,000 employees across 17 countries. Murex is committed to providing cutting-edge technology, superior customer service, and unique product innovation.
Om Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
Pre-Registration for MapleStory 2 Starts Today24.9.2018 17:00 | Pressemelding
Pre-registration for MapleStory 2, the newest MMORPG adventure in Maple World, is available starting today. From September 24 through October 8, players can sign-up on the MapleStory 2 Pre-Registration site available here and earn exclusive rewards! Pre-registration web rewards will include unique in-game items such as the Roosting Seagull, Rustic Mushcabin Name Tag, and the Dusty Rickshaw. From September 24 through October 8, players can also receive a Mint Body Pillow by retweeting the new Runeblade trailer on Twitter and/or liking on Facebook. In addition to pre-registration, players who purchased a Founder’s Pack can jump into Head Start starting October 1, which will allow them to join MapleStory 2 's vibrant and immersive world ahead of global launch on October 10. Along with beta improvements, Head Start (October 1 - October 10) will include: Character progression that carries over to the official launch 6 character slots Founder’s Pack items Access to Gemstones Lv. 1 - 50 Quest
First Engineering Faculty in Canada Named after a Woman: Business Leader Gina Cody Makes Historic $15 Million Donation to Montreal’s Concordia University24.9.2018 15:15 | Pressemelding
Three decades after becoming the first woman to earn a PhD in building engineering from Concordia University, Gina Parvaneh Cody, MEng 81, PhD 89, has made history by giving $15 million to her alma mater. In recognition of her transformative gift to the “Campaign for Concordia: Next-Gen. Now”, the university has named its faculty of engineering and computer science after the alumna. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180924005425/en/ (Photo: Business Wire) The Gina Cody School of Engineering and Computer Science is the first engineering faculty in Canada — and one of the first internationally — to be named after a woman. Gina Cody, a top business leader and building engineer, credits much of her success to Concordia because the university provided her with an entrance scholarship. “I arrived in Canada as a young student from Iran in 1979 with $2,000,” she says. “Concordia welcomed me and provided me with support
Dole’s Standard Fruit Celebrates 20-Year Milestone as Environmental Leader24.9.2018 15:00 | Pressemelding
Earlier in September Dole Food Company participated in a celebration of the twentieth anniversary of the company’s initial receipt of its ISO 14001 Certification. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180924005079/en/ Dole Fresh Fruit President Renato Acuña speaks at the anniversary celebration of Dole's landmark environmental sustainability certification. (Photo: Business Wire) On July 2, 1998, Standard Fruit Company of Costa Rica S.A., a subsidiary of Dole Food Company, Inc., became the first agricultural and banana company in the world to receive the globally recognized ISO 14001 Certification for its environmental management policy and the establishment of its Integrated Management System. With the certification, the company further strengthened its robust Environmental Management System, with results that place it at the forefront in the sustainable production of bananas and pineapples. The celebration event, h
Helsinki Joins New York in Commitment to Review Local Progress Toward Global Sustainable Development Goals24.9.2018 14:42 | Pressemelding
In July 2018, the City of New York became the first city in the world to submit to the United Nations its progress toward the Sustainable Development Goals (SDG’s) on city level. As the first European city Helsinki will follow New York City and become the second city in the world in effort to showcase crucial role of cities in achieving UN agenda for people, prosperity and planet. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180924005633/en/ As the first European city Helsinki will follow New York City and become the second city in the world in effort to showcase crucial role of cities in achieving UN agenda for people, prosperity and planet. Photo: Jussi Hellsten The Mayor of Helsinki Jan Vapaavuori announced Helsinki’s commitment to the voluntary local review at a panel conversation with New York City’s Commissioner of International Affairs Penny Abeywardena at the Social Good Summit in New York City on Sunday. Even thou
ARTMS’ QUANTM Irradiation System™ to Be Featured at Two International Conferences in September24.9.2018 13:00 | Pressemelding
ARTMS Products, Inc. announced today that it has been invited to present at the National Nuclear Security Administration’s 2018 Mo-99 Topical Meeting on Tuesday, September 25th and the Third International Symposium on Technetium and other Radiometals in Chemistry and Medicine on Thursday, September 27th. Joel Kumlin will present at the 2018 Mo-99 Topical Meeting in Knoxville, TN, during Session 7, Production Projects and Technologies II, at 13:00EDT on September 25th. Mr. Kumlin will be discussing progress on implementation of the ARTMS QUANTM Irradiation System™ for producing technetium-99m. The QIS™ combines local production control and a cost-effective, easy-to-use solid target system for the production of Tc-99m on most cyclotron systems. ARTMS recently announced that the QIS™ received CE mark approval and has been installed in a number of countries throughout the world. ARTMS also announced that Dr. Paul Schaffer, CTO, has been invited to present at the Third International Symposi
Mavenir Wins 5G Asia “Best RAN Product” Award24.9.2018 13:00 | Pressemelding
Mavenir, focused on transforming mobile network economics for Communications Service Providers (CSPs), is proud to be awarded 5G Asia’s 2018 ‘Best RAN Product’ award for its innovative, flexible Cloud RAN solution. Mavenir’s Cloud RAN can save operators 37% in total cost of ownership (TCO) over a five-year period due to a 49% reduction in capex and a 31% annual reduction in opex1. The TechXLR8 5G Asia Awards were announced on September 19th in Singapore and celebrate excellence in the APAC’s technology and telecommunications community with the goal of showcasing the year’s greatest industry achievements. Mavenir’s Cloud RAN extends virtualization of the network to the edge and provides strategic differentiation by enabling the remote radio units (RRUs) to interwork with the virtualized cloud base band unit (vBBU) over ethernet fronthaul (FH) to the xRAN specification published early this year. Combined with network slicing support and flexibility for the vBBU to be co-located with the