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.”

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