Murex Strengths, Domain Expertise, and Key Differentiators
With nearly three decades of capital markets experience, Murex has carved out a significant share of the financial technology market, providing an open and modular platform for multinational banks, regional financial services entities as well as asset managers responsible for vast investment portfolios.
What started out as a local player in the French market for companies needing a reliable trading system for capital markets, Murex has expanded into a global software powerhouse. Murex's modular platform includes products such as MX.3 for Risk Control and MX.3 for Collateral Management, both of which have won a growing following among customers that have begun to standardize on Murex's trading and risk management product portfolio.
Murex Recent Developments
In October 2021, Murex’s MX.3 platform was implemented at Banorte. Murex’s platform was chosen by Banorte to integrate advanced credit risk mitigation solutions while allowing the organization to introduce a new XVA desk.
In 2019, Murex had extended connectivity to B-PIPE on the AWS cloud, giving MX.3 users access to a reliable market data feed on the cloud in minutes. Certified on both Microsoft Azure and Amazon Web Services, Murex continues its cloud innovation.
Murex also released MX.3 Control Tower, designed to help managers respond effectively to changing industry trends and needs. This business intelligence solution allows for the monitoring of activities and asset performance, enables users to measure operational risks, and supports better decision making.
Murex Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Murex applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Murex and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Murex MX.3 customers.
Ownership: - x
Number of Employees: 2400
Functional Markets: TRM,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction and Real Estate, Consumer Packaged Goods, Distribution, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Oil, Gas and Chemicals, Professional Services, Retail, Transportation, Utilites,
Murex Key Enterprise and Cloud Applications
Murex Revenues, $M:
|Type/Year||2019||2020||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Murex Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
Murex Enterprise Applications Revenues By Functional Markets, $M:
Murex Enterprise Applications Revenues By Verticals, $M:
Murex Revenues By Region, $M
|Region||% of Total Revenues||2020 Total Revenues, $M||2020 Enterprise Applications Revenues, $M||2020 Cloud Applications Revenues, $M|
Murex Direct vs Indirect sales
|Region||Direct Sales||Indirect Sales||Total|
Murex Customers - Breakdown by Geo, Size, Vertical and Product
No. of Murex Customers: 300
No. of Murex Enterprise Applications Customers: 300
No. of Murex Cloud Customers: x
No. of Murex Cloud Subscribers: x
Murex has more than 300 customers and over 57,000 users running its trading and risk management applications in 60 countries. Utilization of its software has been growing, suggesting that customers have been standardizing on Murex applications and picking up new modules consistently.
Key customers include DBS, Bankdata, Al Rajhi Bank, Banka IMI, ATB Financial, CMB, Nationwide, LCH, and many others.
While the average number of users of a typical Murex client may run anywhere between 10 and 50, some customers such as Bancolombia and Bank of China have seen the number of Murex users reaching 350 and 1,000, respectively.
Other key customers include Amundi, BNP Paribas Fortis, Credit Agricole Asset Management, Crédit Mutuel Arkéa, Le Groupe EDF, Calyon, Natixis, UBS Bank, Swiss Re, Credit Suisse, ALPIQ, Total Trading SA, British Petroleum, HBOS TS (London), Lloyds Banking Group, Barclays Capital, BT Global Services, London Clearing House, Bear Stearns (NY), JPMorgan Chase, SAC Capital Advisors, Soros Fund Management (NY), BNY Mellon, Citigroup, Goldman Sachs Investment Bank, Harvard Management Company, Inc., Millennium Partners, NYSE Euronext, Sapient Global Markets, International Fund Services (N.A.) L.L.C., Capital One bank, Caxton Associates, MetLife, Inc., and many others.
Murex Market Opportunities, M&A and Geo Expansions
As of mid-2021, the number of financial institutions choosing the SaaS deployment model has doubled compared to the whole of 2020.
In 2019, Murex invested $125 million in research and development to enrich our platform at many levels, including functionality and underlying technology. It represented around 20% of Murex's revenue, which is a larger share than many big tech companies invest.
In December 2019 Gulf Bank, one of Kuwait’s largest banks has selected MX.3 to modernize and digitalize its capital markets and treasury IT. The decision to select Murex is part of Gulf Bank’s wider re-platforming of its IT landscape in which Murex will be delivering a fully integrated solution for Gulf Bank’s treasury and capital markets functions, which will extend the capabilities of the bank’s treasury operations and enable it to extend its client solutions offering.
Through this new partnership, Gulf Bank will deploy Murex’s MX.3 platform, providing robust technology infrastructure for core and support operations, as well as risk management. Also, this will mean that the global presence of Murex its gonna be expanded in Kuwait.
Murex has developed a strong risk management offer that fits within the wider trading platform, eliminating the gap between front office and risk that traditionally exists in legacy systems. MX. 3 for Enterprise Risk Management, Murex's risk management suite covers both market and credit risk.
The PFE/CVA product has become an additional component of its extensive enterprise risk management offerings, enabling Murex to incorporate best of breed software packages into integrated solutions capable of handling myriads of tasks from trading to processing and from clearing to risk management.
Murex launched an Enterprise FRTB solution as part of its MX.3 platform to address the Basel Committee on Banking Supervision's new minimum capital requirements for market risk. It also has solutions for SA-CCR and Initial Margin regulatory compliance. Murex continues to actively invest in this area, ensuring clients can keep pace with regulatory changes.
Murex Risks and Challenges
Small number of customers means concentrated revenue source.
Currently, about one-third of its over 2,000 employees are based in France and the rest is distributed all over the world. The makeup of its installed base is more diverse with French banks making up a small portion of its global client base.
What that suggests is that Murex needs to continuously evolve its operations to reflect the underlying changes to its customer mix as the TRM vendor continues to pick up customers in Asia, South America, and the Middle East.
Murex Ecosystem, Partners, Resellers and SI
In 2016, Bankdata, Murex and Synechron began their partnership which will provide Danish banks with MX.3 as a core shared platform for its utility service in order to rationalize their treasury management and capital markets activities. These services have now been extended to support Ringkjobing Landbobank and Alm. Brand Bank treasury management, coming just six months after the previous go-live. The next scheduled phase of the program will be the onboarding of the remaining Danish banks and the implementation of solutions to comply with FRTB regulation. The MX.3 solution will become available for all banks of the Bankdata consortium. The banks will be able to select the functionality that they require and benefit from a modern cross-asset platform with continuous adaptation to regulatory reform, as well as simpler and more efficient IT infrastructure.
In June 2020 Duco and Murex teamed up to provide clients with a comprehensive data reconciliation solution enabling improved automation and straight-through processing across a range of asset classes.
Through this partnership, MX.3 data is natively available in Duco’s cloud-based SaaS platform allowing Murex clients from the sell-side or the buy-side to easily perform key reconciliations related to their security, collateral, cash positions, and progressively additional financial objects. Murex is constantly investing in MX.3 to simplify operations, increase automation, and reduce operational risk. Sitting at the core of a client’s capital markets infrastructure, MX.3 allows clients to seamlessly leverage Duco’s innovative data reconciliation and integrity services thanks to its openness and ease of connectivity.
A partnership is an important aspect of the Murex strategy during the project delivery and support stages, enabling clients to reduce costs, ensuring smooth project implementation, and providing reliable long-term services.
Murex partners include Accenture, Capco, DerivIT, Excelian, Mindtree, Synechron, Capgemini, d-fine, Everis, Exprivia, First Derivatives, Upskills, Indigo Consulting, Maltem Consulting Group, Sapient, Be group, and many others.
Murex Cloud Infrastructure Insights
Subscribe to read more about:
- Murex Public Cloud and Infrastructure (IaaS)
- Murex Platform (PaaS)
- Murex Application Delivery
- Murex Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:https://www.appsruntheworld.com/About Us
Copyright © 2022, APPS RUN THE WORLD