Banking products success stories

Implementation of the Murex Flex module from scratch

The client is a leading financial group in both Spain and Portugal in the field of retail banking. One of the main financial institutions on the national banking scene, it plays a significant role in the areas of Treasury and Investment Banking.

opportunity

Automating processes to boost sales

This financial institution, by means of its contract awarding committees, offers its most sophisticated corporate clients the possibility to operate with exotic financial products for both hedging and speculative transactions. With a view to expanding this business area, it sought a solution that would enable improved performance and automated processes, all whilst facilitating risk control. After analysing its possible options, the client opted to implement the Murex Flex module. This module enables the integration of internal valuation libraries and models into the core of the Murex solution, where the company’s entire operations are managed. Following the tender process, the company assigned the implementation project to Common MS, given the guarantee offered by its experience with other financial institutions and that of its project team.

focus

The need for coordinated management

The implementation process was initiated completely from scratch regarding infrastructure and technology, as well as the processes and business. The project required constant contact between the managers of the various departments involved in the project: Systems, Risks, Traders, Quants and Back Office. This solution needed to be integrated with all the Front Office processes, in addition to downstream (Accounting, Settlements, Payments, Confirmations, Risks, etc.).

At Common MS, we bring the knowledge previously acquired when working with other leading financial institutions in the area of quantitative analysis and in the development and integration of libraries, in addition to our expertise when it comes to the Murex solution itself.

SOLUTION
A team with technical and functional experience
We set up a multidisciplinary project team led by one of our experts, with the ability to design and build optimum functional and technical architecture. We opted to design and agree on solid, flexible, modular and scalable architecture that would provide, above all, optimum performance in any situation. Being able to “speak the same language” with every area involved (Systems, Risks, Traders, Quants and Back Office) greatly streamlined the development process, relationships and communications throughout the project.

Agile methodology was used to manage the project, and at each sprint new functions were delivered to the product owner. The project team met all agreed deadlines with no delay and delivering exactly what was requested. The validation and testing phases were rigorous. Once moved to production, no significant incidences were reported in the stabilisation phases or in the subsequent support and maintenance phases. Given the success of this project, the client wishes to continue evolving this software.
MADRID
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