Murex announced its completed a new implementation of MX.3 solutions for collateral management and SIMM in partnership with Mediobanca.
With this go-live, the Milan-based bank aimed to improve overall operational capacity, bolstering efficiency, rationalization and capitalization 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, including CRIF file generation and SIMM back-testing, represents an integrated process and allows Mediobanca to have a real-time connectivity to process variation margins.
“We have a long-term strategy of updating core systems,” said Mediobanca’s group COO Marco Pozzi, in a statement. “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.”
Murex co-founder and managing partner Philippe Helou, said in a statement: “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.”