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Murex MX.3 from Murex
MX.3 covers trade processing, settlement, confirmations, accounting, and post-trade workflows for a wide range of asset classes. Supports automation, regulatory compliance and real-time processing in fund operations.
Product analysis by function
Trade Processing & Settlement Systems for Fund Operations
Platforms that manage the post-trade lifecycle, including confirmation, matching, clearing, and settlement of transactions across various asset classes and markets.
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Trade Capture
(10 Yes /10 Known /10 Possible features)
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Multi-asset support Ability to capture trades across different asset classes (equities, bonds, derivatives, FX, etc.). |
Vendor documentation and industry reviews confirm Murex MX.3 supports multiple asset classes including equities, bonds, FX, derivatives. | |
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Real-time capture Trades are captured instantly as they occur, minimizing lag. |
Murex MX.3 supports real-time trade capture as highlighted in product materials and user testimonials. | |
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Manual trade entry Ability for users to enter trades manually if needed. |
MX.3 allows manual trade entry in addition to electronic interfaces as documented in user manuals. | |
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Bulk upload capability Support for uploading multiple trade records at once (e.g., via CSV/XML). |
Bulk upload via file (CSV/XML) is a standard feature for Murex trade capture. | |
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Trade edit/audit trail Tracks all edits/changes made to captured trades with timestamps and user information. |
The system provides full audit trails for trade edits per product documentation. | |
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Duplicate trade detection System automatically detects and flags duplicate trade entries. |
Duplicate trade detection and flagging are part of MX.3’s data validation suite. | |
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Custom fields User can define and capture additional trade details via custom fields. |
Custom fields and extensible trade templates are configurable in the platform. | |
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Trade status tracking Indicates the current status (captured, confirmed, settled, etc.) for each trade. |
Trade lifecycle state tracking is supported throughout MX.3’s workflows. | |
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Error/exception logs Records of any failed captures or data exceptions. |
Exception and error logs are available for trade capture operations. | |
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API trade integration Ability to capture trades via direct integration with execution platforms or OMS. |
MX.3 provides APIs for integration with trade execution and OMS platforms. |
Trade Confirmation & Matching
(8 Yes /8 Known /10 Possible features)
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Automated trade matching Auto-matching of trade details with counterparties to reduce manual intervention. |
Automated trade matching with counterparties is a standard feature (via rules or STP). | |
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Manual override/adjustment Users can manually override or adjust match results as needed. |
Manual override and adjustment of matching results are supported for operational flexibility. | |
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SWIFT messaging integration System supports or generates SWIFT confirmation and affirmation messages. |
SWIFT integration for confirmation and affirmation is explicitly listed as an industry integration of MX.3. | |
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CTM (Central Trade Manager) Connectivity Integration with Omgeo CTM or similar for central matching. |
CTM (Omgeo) connectivity is available; MX.3 advertises Omgeo/CTM integration. | |
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Exception management workflow Dedicated workflows for resolving unmatched or disputed trades. |
Exception management workflows, including for unmatched trades, are present in the platform. | |
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STP (Straight-Through Processing) rate Percentage of trades processed without manual intervention. |
No information available | |
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Matching latency Average time taken to complete trade matching. |
No information available | |
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Counterparty notifications Automated notifications sent to counterparties on match status. |
MX.3 supports automated notifications to counterparties on matching status. | |
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Multi-currency support Handles matching for trades across various currencies. |
Support for multi-currency processing and matching is stated by the vendor. | |
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Custom matching rules Admin users can define and edit rules for identifying matches. |
Murex platform allows configuration of custom matching rules. |
Clearing
(10 Yes /10 Known /10 Possible features)
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Central Counterparty (CCP) integration Ability to connect to CCPs for clearing eligible trades. |
Direct CCP connectivity and clearing workflows supported (detailed in Murex’s solution guides). | |
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Trade netting capability Netting of trades by counterparty, asset, or currency before settlement. |
System provides trade netting at counterparty, asset, or currency level. | |
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Collateral management Tools for tracking and managing required collateral for cleared trades. |
Collateral management modules are available for cleared/OTC trades (noted in MX.3 brochures). | |
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Clearing status tracking Monitor each trade’s progress through the clearing cycle. |
The platform provides clearing status tracking dashboards. | |
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Trade allocation to funds/accounts Allocate block trades to specific funds or client accounts. |
Features trade allocation of block trades to funds/accounts (core in fund servicing). | |
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Clearing member management Identify and administer relationships with different clearing members. |
Clearing member management supported for fund operations, as indicated by multi-entity use cases. | |
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Real-time clearing updates Receive immediate updates from CCPs on clearing status. |
Murex touts real-time clearing updates from CCP as a feature. | |
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Unsupported asset tracking Flag trades/assets not eligible for central clearing. |
System flags unsupported/uncleared asset types. | |
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Automated margin calls Generate and track margin call notifications based on clearing requirements. |
Automated margin call workflows are an explicit part of Murex’s collateral solution. | |
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Risk checks pre-clearing Run risk/capital requirement checks prior to clearing. |
Pre-clearing risk checks are performed as part of the clearing process (per solution briefs). |
Settlement
(10 Yes /10 Known /10 Possible features)
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DVP/RVP support Supports Delivery vs. Payment and Receipt vs. Payment settlement types. |
Supports standard DVP/RVP settlement models for securities. | |
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Multi-market settlement Settlement processing across various geographies and market infrastructures. |
Multi-market and cross-border settlement processing cited in global client use cases. | |
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Settlement cycle configuration Ability to set T+2, T+1, T+0, or custom settlement periods. |
Settlement cycle configuration T+2/T+1/T+0 is standard and customizable. | |
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Custodian integration Direct interfaces for communicating settlement instructions to custodians. |
Custodian integration is supported for settlement instruction communication. | |
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Auto-generation of settlement instructions System generates settlement instructions automatically based on trade data. |
Auto-generation of settlement instructions is a built-in function. | |
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Status tracking and reconciliation Tracks each settlement’s status and facilitates reconciliation. |
Status tracking and reconciliation are covered in the settlement module. | |
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Settlement exception handling Workflows to identify and resolve fails, delays, or mismatches in settlement. |
Settlement exception handling is documented in workflow automation guides. | |
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Affirmation workflows Built-in processes for trade affirmation by counterparties or custodians. |
Built-in affirmation workflows with counterparties/custodians. | |
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Partial settlements support Ability to process partial settlements when full allocation/cash is not available. |
Partial settlements supported, as stated in advanced settlement features. | |
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Settlement fails reporting Monitoring and reporting of failed/delayed settlements. |
Settlement fails reporting and analytics provided for operational oversight. |
Reconciliation
(9 Yes /9 Known /10 Possible features)
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Trade-to-custodian reconciliation Compare internal trades with those reported by the custodian. |
Reconciliation with custodian records is a typical post-trade feature in MX.3. | |
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Cash reconciliation Automated matching of expected vs. actual cash movements. |
Automated cash reconciliation is available as per post-trade documentation. | |
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Position reconciliation Reconcile end-of-day positions across systems. |
Position reconciliation is performed in MX.3 end-of-day and intra-day operations. | |
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Automated breaks identification System flags and reports breaks/discrepancies instantly. |
Automated breaks are identified by the matching/reconciliation engine. | |
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Exception clearing workflow Dedicated workflows for resolving reconciliation breaks. |
The platform offers workflows for resolving reconciliation breaks. | |
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Multi-frequency support Can perform reconciliations intra-day, daily, weekly, or custom frequency. |
Daily, intra-day, and custom reconciliation frequency are configurable. | |
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Data normalization tools Standardizes data from multiple sources/formats to enable matching. |
Data normalization tools are available for multi-source integration. | |
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Audit logging Detailed logging of all reconciliation and exception resolution activities. |
Full audit logging of reconciliation and exception handling is available. | |
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Automated notifications Alerts are sent out when breaks/exceptions are detected. |
Automated notifications/alerts for reconciliation breaks supported. | |
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Reconciliation throughput Volume of trades/cash/items reconciled per hour. |
No information available |
Corporate Actions Processing
(9 Yes /9 Known /10 Possible features)
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Corporate actions feed integration Direct connections to data providers for corporate actions data. |
Corporate actions modules include external corporate actions feed integration. | |
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Event type coverage Supported corporate action event types (dividend, splits, mergers, etc.). |
No information available | |
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Automated entitlement calculation System calculates entitlements (cash/shares) for each account/fund. |
Entitlement calculation is automated in the corporate actions module. | |
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Notification workflows Automatically notifies users and clients of impending actions. |
Users and clients are notified of corporate actions through automated workflows. | |
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Instruction capture for voluntary events Enables capture and processing of user elections for voluntary events. |
Instruction capture for voluntary corporate action events is part of the workflow. | |
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Exception tracking Automatically detects and flags exceptions in event processing. |
Exception tracking for corporate actions events is included. | |
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Multi-account allocation Allocates entitlements accurately across multiple accounts/funds. |
Supports allocation of entitlements across multiple accounts/funds. | |
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Historical event tracking Maintains a log of past corporate actions and results. |
Historical corporate action event tracking available in solution modules. | |
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Ad hoc report generation Ability to generate reports on corporate actions, entitlements, and positions. |
Ad hoc reporting for corporate actions/entitlements explicitly cited as available functionality. | |
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Custodian liaison tools Facilitates communication of election instructions to custodians. |
Facilitates communication of election instructions to custodians. |
Regulatory & Compliance Support
(10 Yes /10 Known /10 Possible features)
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Regulatory reporting modules Built-in modules for regulatory reports (e.g. MiFID II, EMIR, SFTR, Dodd-Frank). |
Supports regulatory modules/reporting for MiFID II, EMIR, SFTR, Dodd-Frank, etc. | |
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Rule-based compliance checks Automated checks against firm and regulatory trade limits and restrictions. |
Rule-based compliance checks are available for regulatory and internal risk controls. | |
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Audit trails Comprehensive logging of activities for compliance review. |
Audit trails supported for all compliance activity. | |
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Data retention policies Configurable settings for retaining data for regulatory time periods. |
Data retention settings are configurable to meet regulatory requirements. | |
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User access controls Granular security roles and permissioning for users. |
Granular user access controls and permission management supported. | |
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Automated error notifications Flags and alerts for potential breaches or errors. |
MX.3 provides automated error notifications and compliance alerts. | |
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Exception-based reporting Supports generating compliance reports based on trade exceptions. |
Supports exception-based compliance reporting. | |
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Scheduled regulatory reporting System can schedule and send regulatory reports automatically. |
Scheduled and automated regulatory reporting supported. | |
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Integration with KYC/AML tools Interoperability with Know-Your-Customer and Anti-Money-Laundering solutions. |
Offers integration with KYC/AML systems from partners. | |
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Secure data export Exports data in a format and method compliant with privacy laws. |
Secure data export with privacy/data protection compliance. |
Connectivity & Integration
(9 Yes /9 Known /10 Possible features)
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Open APIs Availability of secure APIs for two-way connectivity with external systems. |
MX.3 offers secure, open APIs for connectivity with external systems. | |
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FIX/FPML message support Ability to consume and transmit messages in industry-standard protocols. |
Supports standard protocols (FIX/FPML) for messaging. | |
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OMS/PMS integration Connects directly to Order Management and Portfolio Management Systems. |
Direct integration with OMS/PMS solutions is a widely used feature. | |
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Custodian/broker connectivity Out-of-the-box interfaces for leading custodians and brokers. |
Connectivity to custodians and brokers out-of-the-box (interfaces available for top providers). | |
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Batch and real-time interface options System can function in batch or real-time mode for data transfer. |
Batch and real-time options for interfaces and integrations. | |
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Message transformation/mapping tools Customizable adapters to transform data between formats. |
Message transformation/mapping tools provided for integrating multiple formats. | |
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Market data feed integration Connectivity for real-time or EOD reference and market pricing data. |
Offers market data feed integration options for reference and pricing data. | |
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Cloud deployment options Support for deployment on public/private cloud environments. |
Supports deployment on private/public cloud infrastructure. | |
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High throughput capacity Volume of transactions processed per minute/hour. |
No information available | |
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File import/export support Support for standardized and custom file formats for data exchange. |
Supports both file import and export for standardized/custom file formats. |
Performance & Scalability
(6 Yes /6 Known /10 Possible features)
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Concurrent user support Maximum number of users supported in parallel. |
No information available | |
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Peak throughput Maximum number of transactions processed per second. |
No information available | |
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Latency Average end-to-end processing time of single trade. |
No information available | |
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Auto-scaling System can increase resources automatically to accommodate higher loads. |
Auto-scaling supported on cloud deployments; mentioned in infrastructure white papers. | |
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Disaster recovery (RTO/RPO) System's recovery time objective (RTO) and recovery point objective (RPO). |
. | No information available |
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High availability Redundancy for 24/7 uptime and minimal service interruptions. |
High availability architecture is offered for mission-critical installations. | |
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Monitoring/alerting for bottlenecks Real-time monitoring and alerts when exceeding resource thresholds. |
Platform features real-time monitoring and alerting for performance/resource limits. | |
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Historical performance logging Stores historical performance metrics for audit/troubleshooting. |
Stores historical performance logs for audit/troubleshooting. | |
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Hot upgrade capability Can upgrade software without taking the system offline. |
Supports hot-upgrade (zero-downtime deployment) in cloud/on-prem enterprise environments. | |
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Environment isolation Supports separation of production, test, and development environments. |
Production/test environment isolation is standard in Murex installations. |
User Experience & Reporting
(10 Yes /10 Known /10 Possible features)
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Customizable dashboards Users can configure dashboards to monitor relevant KPIs and statuses. |
Dashboards configurable for KPIs and operational metrics by user role. | |
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Advanced search/filtering Robust search and filtering options for trade and settlement records. |
Robust search and filtering is available across trade and settlement records. | |
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Ad hoc reporting Users can build and generate custom reports on demand. |
Users can build and generate custom/ad hoc reports. | |
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Scheduled/automated reports System can schedule and send reports regularly via email or portal. |
Scheduled/automated report distribution is supported. | |
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Drill-down analytics Allows navigation from summary to detailed trade information. |
Drill-down from summary to detail provided in analytic/reporting modules. | |
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Real-time notifications and alerts Prompts users immediately about errors, matches, exceptions, or deadlines. |
Real-time notifications and alerts for operational and error statuses supported. | |
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Role-based UI customization User interface adapts and shows relevant modules based on role. |
Role-based UI customization available to tailor workflows by user type. | |
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Multi-language support User interface available in multiple languages. |
Platform provides multi-language UI support for global users. | |
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Mobile/web accessibility Platform can be accessed from web browsers or mobile devices. |
Accessible by web browsers and mobile interface is available (responsive design). | |
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Export to standard formats Can output data/reports to CSV, Excel, PDF, etc. |
Can export data and reports to standard file formats (CSV, Excel, PDF). |
Security
(10 Yes /10 Known /10 Possible features)
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End-to-end data encryption Encrypts data both at rest and in transit. |
Encrypts data both at rest and in transit using industry standards. | |
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Multi-factor authentication Requires more than one method of authentication for login. |
Multi-factor authentication available for enhanced login security. | |
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Granular access control Permissions assigned at user, group, or function level. |
Granular access control is built-in, supporting user/function-level rights. | |
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Regular security audits System is subject to periodic internal/external security reviews. |
Regular internal/external security audits are performed on the platform. | |
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Role-based data masking Sensitive fields are masked based on user permissions. |
Role-based masking of sensitive data fields is available for privacy/security. | |
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Automated session timeout Users are logged out automatically after a period of inactivity. |
Automated session timeout is configurable in user/session management. | |
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Intrusion detection/prevention integration System interfaces with existing IDP/IDS solutions. |
Integration with enterprise intrusion detection/prevention systems is supported. | |
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User activity monitoring Real-time logging and analysis of user activity. |
User activity is logged and can be monitored in real time as per security standards. | |
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Patch management Regular updates to address new vulnerabilities. |
Regular patch management processes are documented in Murex maintenance. | |
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Incident response protocols Predefined workflows for suspected or actual breaches. |
Incident response protocols built into platform operations/support. |
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