Murex extends scope at Mediobanca with collateral management
03 September 2024 France
Image: AI_Images/stock.adobe.com
Murex, in partnership with Mediobanca, has completed a new implementation of MX.3 solutions for collateral management and SIMM.
With this move, the Milan-based bank aims to improve overall operational capacity, enhancing rationalisation and capitalisation of investment.
This new addition completes Mediobanca’s front-to-back operations, including accounting and payments, which now operate on a single system.
The collateral scope includes OTC, cleared and listed derivatives, repos, and securities.
The core SIMM solution consists of CRIF file generation and SIMM back-testing, and allows Mediobanca to have real-time connectivity to process variation margins.
Working closely with Murex, Mediobanca’s IT architecture is now more integrated, including the enhancement of interfaces and reporting, according to the firm.
Marco Pozzi, Mediobanca’s group chief operating officer, says: “After a deep analysis performed to assess the best target software infrastructure, we decided to migrate collateral management to MX.3 and extended the scope to include initial margin management integration.
“Murex has a strong reputation in the collateral management space, with successful implementation achieved among a diverse group of clients. We are pleased with the collaboration and we are confident we have strengthened our framework and processes.”
Murex representatives said that strong collaboration with Mediobanca throughout the implementation process, as well as clear objectives from the bank, were critical.
Philippe Helou, co-founder and managing partner at Murex, adds: “Collateral management and the SIMM addition are an important step forward in a long-term relationship with Mediobanca. We look forward to future collaboration and further innovation.”
With this move, the Milan-based bank aims to improve overall operational capacity, enhancing rationalisation and capitalisation of investment.
This new addition completes Mediobanca’s front-to-back operations, including accounting and payments, which now operate on a single system.
The collateral scope includes OTC, cleared and listed derivatives, repos, and securities.
The core SIMM solution consists of CRIF file generation and SIMM back-testing, and allows Mediobanca to have real-time connectivity to process variation margins.
Working closely with Murex, Mediobanca’s IT architecture is now more integrated, including the enhancement of interfaces and reporting, according to the firm.
Marco Pozzi, Mediobanca’s group chief operating officer, says: “After a deep analysis performed to assess the best target software infrastructure, we decided to migrate collateral management to MX.3 and extended the scope to include initial margin management integration.
“Murex has a strong reputation in the collateral management space, with successful implementation achieved among a diverse group of clients. We are pleased with the collaboration and we are confident we have strengthened our framework and processes.”
Murex representatives said that strong collaboration with Mediobanca throughout the implementation process, as well as clear objectives from the bank, were critical.
Philippe Helou, co-founder and managing partner at Murex, adds: “Collateral management and the SIMM addition are an important step forward in a long-term relationship with Mediobanca. We look forward to future collaboration and further innovation.”
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