Murex launches new LIBOR reforms solution
24 April 2019 Paris
Image: Shutterstock
Murex has launched a new London Inter-bank Offered Rate (LIBOR) reforms solution for discontinuation and benchmark reforms.
The reforms solution is part of an initiative to provide guidance for customers as they assess how LIBOR changes will impact their business before the reform deadline in 2021.
The Murex cross-asset LIBOR reform solution supports new indices, instruments, curves and emerging valuation practices.
Covering front office through to risk management and accounting, it also includes LIBOR exposure dashboards and impact analysis tools.
Murex is also collaborating with LCH for the cleared rates derivatives market to streamline the transition of over-the-counter derivatives trades referencing LIBOR, starting with the application of new fallback clauses to legacy positions upon a discontinuation event.
Philip Whitehurst, head of service development, rates at LCH, said: “LCH is committed to supporting the global rates reform effort, and we’re pleased to be continuing our work toward a smooth transition to alternative reference rates. Our work with Murex will enable us to continue along this path, and allow us to adapt to the changes in a timely manner.”
Alexandre Bon, co-lead of the Murex LIBOR taskforce, commented: “Murex has been working with LCH for many years, supporting their risk and valuation activities, from curve construction to process automation.”
He added: “We are delighted to team up with them once more, delivering the technology and support to develop mechanisms that ease the transition away from LIBOR, reducing the risk of market disruption and bifurcation.”
The reforms solution is part of an initiative to provide guidance for customers as they assess how LIBOR changes will impact their business before the reform deadline in 2021.
The Murex cross-asset LIBOR reform solution supports new indices, instruments, curves and emerging valuation practices.
Covering front office through to risk management and accounting, it also includes LIBOR exposure dashboards and impact analysis tools.
Murex is also collaborating with LCH for the cleared rates derivatives market to streamline the transition of over-the-counter derivatives trades referencing LIBOR, starting with the application of new fallback clauses to legacy positions upon a discontinuation event.
Philip Whitehurst, head of service development, rates at LCH, said: “LCH is committed to supporting the global rates reform effort, and we’re pleased to be continuing our work toward a smooth transition to alternative reference rates. Our work with Murex will enable us to continue along this path, and allow us to adapt to the changes in a timely manner.”
Alexandre Bon, co-lead of the Murex LIBOR taskforce, commented: “Murex has been working with LCH for many years, supporting their risk and valuation activities, from curve construction to process automation.”
He added: “We are delighted to team up with them once more, delivering the technology and support to develop mechanisms that ease the transition away from LIBOR, reducing the risk of market disruption and bifurcation.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
100% ON RETURNS If you invest in only one securities finance news source this year, make sure it is your free subscription to Securities Finance Times
