Grupo Financiero Banorte has partnered with Murex to enhance FX derivatives trading for corporate clients. This move involves implementing a self-service solution through the MX.3 platform, Murex's integrated platform, to enhance efficiency in FX derivatives trading processes.

Abraham Izquierdo, the Managing Director for Traded and Treasury Risks at Banorte, mentioned: "The Banorte transformation journey has involved many breakthroughs. However, one of the most significant milestones has been the self-service product offering. This offering aligns closely with Banorte's digital strategy and meets the specific expectations of our client base."

Enhancing Risk Management with Automation

Banorte has adapted its internal workflows and risk management procedures to accommodate this self-service offering. The integration of MX.3 software eliminates the need for manual processes, significantly reducing errors and delays, the company said. Through automation Automation Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime Automation is defined as the procedure of making an apparatus, a process, or a system to operate by mechanical or electronic devices that replace human labor. Additionally, automation is also sometimes referred to as mechanization or robotization. For example, employees have many costly needs, including government regulations. However, robotic workers don’t need much other than some routine maintenance and the occasional bug fix for an equipment malfunction or software bug. There is no overtime Read this Term, Banorte has managed to increase resource efficiency, saving up to 38 percent of person-hours for users.

This collaboration between Banorte and Murex builds upon their 12-year history of working together. Over this time, Banorte has expanded its use of MX.3, incorporating new modules and asset class coverage. In 2022, Banorte created a new XVA desk and revamped its PFE limits management, selecting Murex to support its risk and front office teams.

How does @Banorte_mx harness Murex #technology? Through MX.3, Banorte has successfully built a completely new #XVA desk and revamped its PFE limits management. Read the case study here: https://t.co/XEJwjZ8Nkr pic.twitter.com/5ZpRKW81oj

— Murex (@Murex_Group) December 6, 2021

Conversely, Murex has been expanding its operations globally. Last month, Rabobank and Murex rolled out operations based on the MX.3 platform in Brazil. Rabobank's implementation in Brazil encompasses various onshore and offshore products, leveraging the integrated capabilities of the MX.3 platform.

Murex's Strategic Partnerships

It covers aspects such as trade capture, pricing, position, and treasury management, post-trade and settlement processes, reporting, market analysis, credit and liquidity risk management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term, P&L calculation, and subledger accounting generation.

Besides that, Murex announced its partnership with the London Stock Exchange Group (LSEG) in May. The partnership allowed for integrating the MX.3 platform with LSEG through Amazon Web Services. This collaboration introduced a significant advantage for financial companies by providing fast access to real-time market data from multiple global exchanges and over-the-counter markets via the cloud.

With this connectivity, Murex's clients can choose how they retrieve real-time market data within the MX.3 platform. They can select from three distinct deployment models offered by LSEG, all of which are designed to cater to different client preferences.