CMB Successfully Goes-Live on Murex’s MX.3 Platform
August 16 2017 - 3:00AM
Business Wire
- 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.
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MurexNicole Fisher,
+33144053200nicole.fisher@murex.com