Murex - what kinda securities

First OCBC GT team to use murex is IRD desk. Very typical of murex.

Highly complex structured products? Pricing/risk-analytics becomes too slow. Some competing products (such as numerix) are faster.

2 main "end user departments" -- FO and BO, including risk users.

Murex | Top-level functionality + infrastructure features

* pre-trade pricing …needed for derivatives

** simulation

 

However, for some asset classes there are many “better” pricing tools out there, often with real-time market data. Therefore not every trader prefers murex pricing.

 

 

* trade entry, position mgmt

** confirm

** settlement

** PL

** life-cycle mgmt

 

* risk mgmt

** simulations

** VaR

** stress scenario

 

Essential Supporting features

* product set-up

* pricing curves, based on

* live market data

 

Murex traditional strength is rate-related derivatives. Other asset classes added later

* credit der? There are "stronger" competitors

* options? Pretty good

* simple securities? Less value-add

 

Murex | keyboard/mouse

Space – to enter/select

Escape – to navigate back

Right-click – gives many features

 

Murex | market data set

MDS - a compilation of “essential” market data provides a “context” for everyday tasks. You can call it a market-environment (as known in Barclays.)

 

There’s a single MDS known as the default MDS, used for EOD marking. For example, the USD yield curve is one of many, many objects within an MDS.

 

Each murex user belongs to a group. Each group can have its own “local” MDS in additional to the default MDS. Think of it as changing skin on a browser.

 

This “local” MDS could be 99% identical to the global default MDS, but the group could edit any part of their local MDS for their business function such as price distribution.

 

Each office location could also use its own local MDS.