Murex integrates S&P Global’s OTC Derivatives Data into MX.3 platform

Rick Steves

“Building reliable and consistent datasets from difficult-to-obtain market data is a perpetual challenge. Linking MX.3 to OTC Derivatives Data, part of S&P Global Market Intelligence, is of great benefit to clients who use both services.”

Murex has expanded its partnership with S&P Global Market Intelligence in a move that focuses on model validation and market data integration into MX.3, Murex’s platform.

The model validation team at Murex is utilizing S&P Global Market Intelligence for monitoring and validating front-office pricing and risk models within MX.3. This process encompasses the entire lifecycle of model validation across various asset classes.

Integration includes equity, FX, interest rates, credit, and inflation

Financial models and quant teams have faced challenges due to central bank policy changes impacting rate curves. Murex’s financial engineers regularly assess model performance under these conditions, conducting tests on model stability, market fit, hedging efficiency, and the regularity of greeks.

Murex has developed direct connectivity between MX.3 and S&P Global Market Intelligence Derivatives Data. This integration covers a range of data including equity, FX, interest rates, credit, and inflation. It benefits asset managers, hedge funds, pension funds, insurance companies, and banks by providing access to comprehensive data without needing specific integration.

Tasha Gonska, vice president at S&P Global Market Intelligence, highlighted the advantages of this collaboration, noting the convenience for clients in leveraging S&P’s derivative data, deeply integrated within Murex’s MX.3 solution.

“Customers of our high-quality, cross-asset data service can benefit from this latest collaboration with Murex. S&P Global Market Intelligence has a long track record in building consistent and reliable derivative datasets, thanks to a unique access to market-making contributions from the OTC market. Our combined offering will make it extremely convenient for clients to leverage our ongoing and historical derivative data, as it will be deeply integrated within Murex’s MX.3 solution. Building reliable and consistent datasets from difficult-to-obtain market data is a perpetual challenge. Linking MX.3 to OTC Derivatives Data, part of S&P Global Market Intelligence, is of great benefit to clients who use both services.”

Derivative data from exchanges, inter-dealer brokers, and OTC market-makers

S&P Global Market Intelligence sources its derivative data from multiple providers, including exchanges, inter-dealer brokers, and OTC market-makers. This ensures deep, accurate, and reliable data for various financial operations.

The collaboration provides extensive cross-asset coverage, even for less liquid and long-dated products, offering comprehensive market insights. This service is beneficial for trading, research, and compliance requirements globally.

Bertrand Fevre, Head of Model Validation at Murex, said: “Users will experience prebuilt, seamless integration and the ability to digitally transfer data between solutions. We are pleased to grow our collaboration with S&P. By providing an additional option to clients to connect with a leading market data provider, Murex is able to regularly assess and demonstrate the strength of its model.”

  • Read this next

    Retail FX

    Weekly Roundup: FX prop firms switch to cTrader, who moved $1.35B BTC?

    The foreign exchange and cryptocurrency markets are always active, and this past week was no exception. Stay ahead with a selection of essential stories and updates that matter most to market participants.

    Digital Assets

    Bitcoin breaks all records with a massive $1.347 billion transaction

    This transaction has surpassed previous records, setting a new benchmark for Bitcoin trades. Before this event, the largest Bitcoin transactions included a $1.1 billion trade in April 2020 involving 161,500 BTC, and other significant transactions ranging from $491 million to $1.033 billion throughout 2019 and 2020.

    Digital Assets

    Uniswap debuts Ethereum ‘uni.eth’ subdomains

    Decentralized exchange platform Uniswap has integrated Ethereum Name Service (ENS), allowing users to create human-readable domain names and cryptocurrency wallet addresses using .eth endings.

    Web3

    Magic Square Expands with TruePNL Acquisition

    Binance’s web3 app store, Magic Square, acquired token platform TruePNL in a cash deal this week for an undisclosed sum. The deal brings TruePNL’s infrastructure (excluding branding & token) under Magic Square’s wing. Initially seeking a partnership, Magic Square opted for a full acquisition.

    Crypto Insider

    The Future of Prediction Markets? Zeitgeist Launches Decentralized Court System

    Polkadot-powered prediction market protocol Zeitgeist has announced the launch of its latest innovation: a decentralized court system.

    Digital Assets

    Crypto exchange Kraken fires back at SEC lawsuit, claiming overreach

    Crypto exchange Kraken is pushing back against the U.S. Securities and Exchange Commission (SEC), seeking to toss out a lawsuit that accused the platform of operating without proper registration.

    Industry News

    Exness Named a Best Place to Work in 2024

     Global leader Exness, tops in retail trading volume, earns 2024 “Best Place to Work” award, cementing its employee-centric culture after three prior years of winning the Cyprus national title.

    Digital Assets

    Swan Bitcoin taps Bakkt for crypto offering in the US

    “We are thrilled to be taking this exciting step forward in our partnership with Swan. This is just the beginning of our collaboration, as we intend to explore further growth opportunities together in the future, including expansion into international markets.”

    Digital Assets

    Polkadot Awards Bifrost a 500,000 DOT Loan to Enhance Liquid Staking Adoption

    Bifrost, a leader in liquid staking solutions, has secured a 500,000 DOT loan from Polkadot’s treasury to expand the reach and utility of its vDOT product within the ecosystem.

    <