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Murex, a trading, risk management and processing solutions firm for capital markets, has incorporated its MX.3 for Collateral Management extension at DZ Bank.
DZ Bank’s operations, treasury and risk business units will be able to access a number of enhancements and process automations with the MX.3 extension, says Murex. This will include connectivity to platforms such as MarginSphere and TriResolve, as well as an automated allocation process and an improved trade import process.
According to the firm, DZ Bank processes 1400 collateral calls per day across more than 5400 collateral agreements.
Rüdiger Welsch, head of operations IT at DZ BANK, says: “The use of the integrated MX.3 platform generates considerable cost synergies in operations and further development compared to a standalone solution.
“For the participating units from operations, treasury and risk control, several business improvements were achieved compared to the legacy application. For example, an increased level of automation in collateral operations was achieved for cash and security allocation and electronic margining.”
Philippe Helou, managing partner and co-founder of Murex, adds: “This is a milestone in the longstanding partnership between Murex and DZ Bank, capitalising on the ongoing evolution of the platform.
“DZ Bank joins a community of more than 100 financial institutions that trust the collateral management solution provided by Murex. Operations, treasury, risk and IT departments at DZ Bank collaborated closely with Murex and Capco. The bank has gained a future-proof and cost-effective collateral management architecture and platform.”
