Odeabank implements Murex MX.3 for risk management

By Vriti Gothi

Odeabank, has implemented Murex’s MX.3 for FRTB solution to build a resilient, technology-driven infrastructure as it advances its strategy to be Türkiye’s “phygital” bank.

The Fundamental Review of the Trading Book (FRTB) represents one of the most comprehensive and demanding regulatory reforms for the global banking industry. MX.3 for FRTB, developed by Murex, provides full end-to-end coverage of the calculation chain down to the final charge, ensuring compliance with both the Standard Approach and the Internal Model Approach.

Odeabank Chief Risk Officer Hüseyin Gönül said, “Through the implementation of MX.3 for FRTB, we have optimised our technology infrastructure and are prepared for the regulation, as well as to gauge its impacts on our business. MX.3 for FRTB is adapted to our existing infrastructure and will help Odeabank meet all necessary obligations. It enables us to align with international standards, improve capital efficiency and operate with greater data integrity and transparency key priorities as we continue to grow with strengthened infrastructure and a focus on sustainable value creation.”

The deployment of MX.3 for FRTB brings strategic advantages for Odeabank. By eliminating data duplication and reducing reconciliation needs, the solution ensures consistent calculation across assets and departments, while maintaining a single golden source of reference and trade data. This integrated approach empowers front-office teams with accurate valuation capabilities while simultaneously supporting regulatory compliance on the risk side.

MX.3 also enhances transparency by providing comprehensive audit trails and explainable calculations for regulators. The platform is ISDA-certified and compliant with the ISDA Benchmark Unit Tests, reinforcing its position as a trusted solution for financial institutions worldwide.

Rudolf Lorfing, Business Development Lead at Murex, said, “A resilient core team and contributors led to our success in this project. We are honoured that Odeabank selected our solutions. Murex is ready to support other Turkish financial institutions aiming to adopt MX.3 for FRTB, as well as financial institutions elsewhere.”