Murex Deepens Ties with S&P Global to Cover OTC Derivatives Data

Murex, the global leader in trading, risk management and processing solutions for capital markets, has extended its partnership with financial information and analytics leader S&P Global Market Intelligence.

This new collaboration will enable Murex to meet model validation needs and the company's model validation team to monitor the validation of front office pricing and risk models used within MX.3, Murex's banking technology platform.

Central bank policy changes throughout the year have strongly impacted rate curves shaping and have put pressure on financial models and quants teams, Murex notes in an announcement.

Murex has developed off-the-shelf connectivity between MX.3 and S&P Global Market Intelligence Derivatives Data, which allows asset managers, hedge funds, pension funds, insurance companies as well as banks to rapidly benefit from rich and accurate data while avoiding specific integration work.

Tasha Gonska, vice president at S&P Global Market Intelligence, said, "S&P Global Market Intelligence has a long track record in building consistent and reliable derivative datasets, thanks to a unique access to market-making contributions from the OTC market. Linking MX.3 to OTC Derivatives Data, part of S&P Global Market Intelligence, is of great benefit to clients who use both services."

"Users will experience prebuilt, seamless integration and the ability to digitally transfer data between solutions," said Murex Head of Model Validation Bertrand Fevre. "We are pleased to grow our collaboration with S&P. By providing an additional option to clients to connect with a leading market data provider, Murex is able to regularly assess and demonstrate the strength of its model."

Last month, Grupo Financiero Banorte​ (Banorte), one of the largest commercial banks in Mexico and the largest retirement fund administrator in the country, has integrated MX.3 with its internal banking portal, Cambios Banorte en Línea, to enable corporate clients to perform FX derivatives transactions and drive its digitalization strategy.