North American ATB Financial taps Murex for fully Managed SaaS Solution

By Pavithra R

Murex, a leading global provider of trading, risk, and processing solutions for capital markets has announced that the company has partnered with ATB Financial (ATB), a leading and innovative Canadian financial institution and Crown corporation.

ATB has been leveraging Murex’s MX.3 platform since 2017. Murex offers the flexibility of a fully managed SaaS solution allowing financial institution to boost innovation, customize business processes, and maximize resilience while leveraging Murex’s functional coverage. The objective was to consolidate front-office, credit risk, collateral, market risk, and processing systems on a single platform and replace numerous legacy systems. This replacement has helped ATB in lowering the total cost of ownership and offer the best financial products to ATB’s customers.

“ATB Financial’s partnership with Murex allows us to offer a first-of-its-kind, best-in-class trading experience to ATB customers. Whether it is interest rates, foreign exchange or commodities, ATB’s Enterprise Trading Platform enables us to better support our customers’ complex trading needs,” said Chris Turchansky, ATB’s chief experience officer.

MX.3 was selected as front-to-back-to-risk platform for all activities in commodities, foreign exchange cash and options, and interest rate derivatives. The multiyear project initially focussed on ATB’s interest rate desk in 2017 and moved its foreign exchange desk to MX.3 in 2019. In July 2020, ATB’s commodities desk went live on MX.3, completing the path toward a fully managed SaaS solution.

With a full turnkey model, Murex takes ownership of the MX.3 platform for production management, disaster recovery, deployment, maintenance, and monitoring, as well as incident and change management. Murex also offers additional services for platform upgrades as part of its SaaS solution. This milestone is the final step towards the achievement of an integrated and unified capital markets and treasury platform for ATB.

“Murex has provided a best-of-breed solution tailored to a valued partner’s specifications. This successful implementation with ATB relied heavily on our engrained organizational agility, which has been honed with diverse partners to deliver the MX.3 solution on time and budget. Our model of close partnership served us well here. From 2017, when we started this project, we have collaborated proactively and constructively with ATB. Circumstances out of our control this year influenced—but did not slow—our march over the finish line. We look forward to a continued and fruitful collaboration with ATB as it meets the evolving needs of its customers,” said Joe Iafigliola, CEO of Murex Americas.

Established since 1986, Murex is a leading software provider of cross-asset trading, risk management and processing solutions for financial and capital markets institutions. Its cross-function platform, MX.3, supports trading, treasury, risk and post-trade operations, enabling clients to better meet regulatory requirements, manage enterprise-wide risk and control IT costs.

Also read: Treasury and Capital Markets Systems Report 2020.