Rabobank Brazil migrates back office to Murex’s MX.3 for efficiency and risk management

Rick Steves

“Murex’s out-of-the-box coverage for native Brazilian products and local market conventions transformed our capital markets systems landscape. The MX.3 implementation enhances our time-to-market capabilities, improves our cost-income ratio, and reduces total cost of ownership (TCO).”

Dutch banking giant Rabobank and global trading software leader Murex have successfully expanded their partnership with the implementation of back office, operations, and finance on the MX.3 platform in Brazil. This move is part of Rabobank Brazil’s broader IT transformation and follows previous front office and risk implementations on the same platform.

The MX.3 platform will now support a comprehensive range of onshore and offshore financial products, offering capabilities from trade capture and pricing to position and treasury management, as well as compliance with local regulations. The project aligns with Brazil’s central banking and financial market regulations, including those from Banco Central do Brasil (BCB), Conselho Monetario Nacional (CMN), and Commissão de Valores Mobiliários (CVM).

MX.3 platform covers range of onshore and offshore financial products in Brazil

Monique Hoeben, Rabobank Wholesale and Rural Managing Director and Markets and Treasury Tribe Lead, commented, “Murex’s out-of-the-box coverage for native Brazilian products and local market conventions transformed our capital markets systems landscape. The MX.3 implementation enhances our time-to-market capabilities, improves our cost-income ratio, and reduces total cost of ownership (TCO).”

Randa Saghieh-Gaillot, Murex Managing Director, France and Benelux, and Rabobank Account Manager, added, “Continuing our long collaboration with Rabobank, this back office implementation in Brazil solidifies our front-to-back integrated service. Rabobank Brazil can now execute faster time-to-market for local products. This project would not have been such a success without Rabobank’s clear vision.”

The project migrated approximately 60,000 trades from the previous system to MX.3, streamlining Rabobank’s back office processing capabilities. “We have already seen significant improvements in our operational efficiency and risk management,” said Vivian Pascoalino, Rabobank COO South America. “The MX.3 implementation will enable us to better serve our customers and achieve our strategic goals.”

Joe Iafigliola, Murex Americas Co-head, noted, “Brazilian capital markets are experiencing significant growth and transformation, driven by regulatory changes. We are proud to support Rabobank in rationalizing its IT ecosystem and strengthening its competitive positioning in this rapidly evolving market.”

The implementation in Brazil deepens Rabobank’s longstanding relationship with Murex, as they continue to work together in rationalizing and modernizing the bank’s global IT landscape.

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