Murex Restructuring & Front Office Quantitative Risk Analytics

Client Story: Oil Supermajor London / Chicago

MapleRisk have been successfully helping our global markets clients deliver complex change programmes through an Agile DevOps approach. Our domain experts are embedded within your team. They collaboratively work within our Agile DevOps framework that draws from multiple disciplines including solution architecture, engineering, and data scientists backed by a deep understanding of front-to-back trading and risk management fundamentals.

Having implemented Murex for its global oil derivatives business, the client wanted to achieve controlled growth through functional improvements in pre-deal analytics, modelling and risk management capabilities, as well as integration with downstream systems. An impressive list of quantitative business requirements needed to be developed in Murex and delivered over a phased release cycle with minimal disruption and operational risk.

MapleRisk Approach

We worked with the client and Murex to specify and embed the functional enhancements in pre-deal analytics, modelling and volatility management.

We developed a model validation framework used for full review of Murex models. MapleRisk developed a risk- based quality assurance framework to enable frequent software releases.

Alongside functional alignment, we delivered integration to SAP and supported architectural decisions by providing relevant sizing and performance scenarios.

Outcomes

  • Achieved a quarterly release cycle with no major regression.
  • Reduced off-system spreadsheet dependency by migrating exotic products into Murex.
  • Implemented framework to hedge interest rates and foreign-exchange exposure.
  • Threefold performance improvement from infrastructure replacement project.