Murex partners with Duco for delivery of data reconciliation solution

Source: IBS Intelligence 2020-06-24

Murex, a provider of trading, risk and processing solutions, announced that it has teamed up with self-service data integrity and reconciliation services provider Duco. The collaboration will facilitate the delivery of a data reconciliation solution for enhancing automation and straight-through processing across a range of asset classes.

Christian Nentwich, CEO of Duco, said, “In the current environment, reducing operational risk by improving data integrity and removing manual work has arguably never been more important. We are delighted to partner with Murex, a leading player in the capital markets industry, who share our vision of reducing friction throughout the trade lifecycle by leveraging intelligent technology. Our mutual clients will see significant time savings as a result, while also having complete trust in their data.”

According to Murex, the partnership will make MX.3 data available in Duco’s SaaS platform, thus enabling the supplier’s clients from both the sell-side and the buy-side to perform reconciliations related to their security, collateral, cash positions and progressively additional financial objects. Users of MX.3 will benefit from features including Plug and Play, Machine Learning and Smart Workflow. MX.3 will allow clients to use Duco’s data reconciliation and integrity services along with the increase in automation and the reduction in operational risk.

Etienne Ravex, Head of Product Management for Operations at Murex, commented, “This partnership allows us to propose the best post-trade solution to our clients to better control operational risk management, increase STP rates and ultimately automate the end to end processes. We are looking forward to adding more use cases to this joint solution in the near future.”

Recently, Murex entered into an agreement with the National Bank of Kuwait (NBK) in a bid to allow the bank to integrate its legacy IT systems at Group Treasury and Investments with the supplier’s MX.3 platform.

Murex

Duco

Murex partners with Duco for delivery of data reconciliation solution

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