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MX.3 Credit Risk from Murex
Advanced credit risk solution for brokerages offering real-time counterparty exposure management, sophisticated risk modeling, limit monitoring, what-if analysis, credit valuation adjustment (CVA) calculations, and regulatory compliance tools.
Product analysis by function
Credit Risk Management Systems for Risk Management
Solutions for assessing counterparty credit risk, setting and monitoring credit limits, and managing collateral requirements for margin accounts and securities lending.
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Counterparty Assessment
(9 Yes /9 Known /10 Possible features)
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Automated Credit Scoring Automatically calculates a risk score for each counterparty using financial and behavioral data. |
Marketing and solution descriptions confirm automated risk scoring functionality based on internal and external counterparty data. | |
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Custom Risk Metrics Supports user-defined credit scoring methodologies and risk indicators. |
MX.3 supports custom risk, scoring, and limit methodologies, as highlighted in material related to sophisticated risk modeling. | |
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External Data Integration Ability to incorporate data from credit bureaus and third-party financial sources. |
Integration with market and credit data providers is referenced, indicating external data integration capabilities. | |
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KYC Documentation Storage Securely stores and manages Know Your Customer (KYC) documentation. |
MX.3 touts secure KYC and documentation management for client onboarding and ongoing risk compliance. | |
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Adverse News Screening Automatically checks for negative news impacting counterparties. |
Solution documents mention adverse and real-time news/event impact integration for counterparties. | |
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Portfolio Concentration Limits Monitors exposure to individual issuers or sectors. |
Portfolio and sector/issuer concentration monitoring are listed among limit management features. | |
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Peer Benchmarking Provides relative risk assessment versus peer group data. |
Peer analytics/benchmarking are covered under risk analytics capabilities. | |
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Assessment Speed Time to generate initial risk score for a new counterparty. |
No information available | |
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Automated Alerts Notifies the risk manager of changes in creditworthiness or breaches in risk policy. |
Product provides notifications, alerting users of material changes in creditworthiness or policy breaches. | |
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Audit Trail of Assessments Keeps a record of all risk assessments and changes in counterparty status. |
Full audit trails are a standard compliance feature stated in Murex's risk platforms. |
Credit Limit Setting
(10 Yes /10 Known /11 Possible features)
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Dynamic Limit Calculation Calculates real-time credit limits considering exposures, collateral, and creditworthiness. |
Dynamic, real-time credit limit calculation/adjustments noted in product specs. | |
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Manual Override Capability Allows risk managers to manually adjust credit limits within policy parameters. |
Manual override of system recommendations is standard in risk management workflows. | |
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Limit Hierarchies Supports group- and entity-level limit aggregation. |
MX.3 supports entity, group, and hierarchical limit structures for aggregation. | |
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Exposure Netting Net exposures across bilateral and multilateral counterparties. |
Exposure netting includes bilateral/multilateral netting of counterparties across products. | |
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Limit Breach Alerts Real-time notifications when credit limits are approached or breached. |
System delivers breach alerts in real-time when limits are approached/exceeded. | |
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Proposed vs. Current Limit Comparison Displays side-by-side views of suggested limit changes. |
Product allows comparison of proposed and current limits as part of the decision process. | |
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Average Limit Calculation Speed Average time required to recalculate limits after a trade or market action. |
No information available | |
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Historical Limit Tracking Audit trail of all limit changes and rationale. |
MX.3 keeps a full audit of all limit changes and rationale for regulatory purposes. | |
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Credit Utilization Reporting Measures the proportion of credit limits in use. |
Crediting limit utilization and usage reporting supported via reporting dashboards. | |
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Limit Recommendation Engine AI-driven module to suggest credit limits based on risk appetite and counterparty profile. |
AI-driven/manual recommendation engines for credit limits are part of platform. | |
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Multi-currency Limit Support Ability to set and monitor limits in several currencies simultaneously. |
Multi-currency support for limits is explicitly highlighted. |
Exposure Tracking
(8 Yes /8 Known /10 Possible features)
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Real-time Exposure Calculation Calculates net and gross exposures continuously during trading hours. |
MX.3 supports real-time net/gross exposure calculation as a core feature. | |
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Intraday Exposure Updates Frequency of intraday exposure recalculations. |
No information available | |
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Cross-product Exposure Aggregation Aggregates exposures across derivatives, margin lending, repo, and cash products. |
Cross-product support indicated: solutions consolidate exposure across instruments. | |
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Trade-level Drilldown Ability to drill from portfolio to individual trade exposures. |
Trade-level drill-down is a standard feature of their exposure management dashboard. | |
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Stress Testing on Exposures Applies market shocks and scenarios to simulate exposure changes. |
Stress testing for exposures, scenario/what-if analysis is highlighted in product notes. | |
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Expected Exposure Calculation (EPE/PFE) Calculates Expected Positive Exposure / Potential Future Exposure. |
Calculates key exposure metrics such as EPE and PFE for credit/LVA management. | |
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Exposure Reporting Dashboard Provides visualization and reporting tools for exposures. |
Interactive, custom dashboards for exposure reporting part of standard platform. | |
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Exposure Aging Analysis Analysis of how long exposures have been held. |
Supports exposure aging, typically for credit/settlement risk tracking. | |
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Multi-asset Support Tracks exposures across equities, fixed income, FX, and derivatives. |
Exposure management includes multi-asset class support (FX/Equities/FI/Derivs). | |
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Intraday Peak Exposure Recording Records and reports on peak exposures during the day. |
No information available |
Collateral Management
(6 Yes /6 Known /10 Possible features)
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Collateral Valuation Engine Real-time calculation of collateral values and haircuts. |
Real-time collateral valuation and haircuts are supported for margin/collateral optimization. | |
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Eligibility Checks Enforces collateral eligibility and concentration limits. |
System enforces eligibility and concentration rules for collateral acceptance. | |
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Margin Call Automation Automated calculation and issuance of margin calls. |
Margin call automation is part of the workflow for collateral management. | |
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Optimization Algorithms Suggests optimal allocation of collateral across portfolios/counterparties. |
No information available | |
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Dispute Management Workflow Tracks and manages margin/collateral disputes. |
Dispute management modules described in documentation for collateral/margin disputes. | |
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Substitution Processing Facilitates collateral substitution and tracking. |
No information available | |
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Multi-asset Collateral Support Supports cash, securities, and non-cash collateral types. |
Support for cash/non-cash/securities collateral types mentioned in multi-asset outline. | |
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Collateral Coverage Ratio Measures percentage of exposure covered by collateral. |
No information available | |
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Real-time Collateral Shortfall Alerts Instant notification of insufficient collateral. |
Product highlights real-time alerts for collateral shortfall and breach. | |
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End-of-day Margin Call Volume Number of margin calls processed per day. |
No information available |
Margin Management
(8 Yes /8 Known /10 Possible features)
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Intraday Margin Calculations Frequency of updating margin requirements within the trading day. |
No information available | |
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Scenario Margining Margin requirements can be run under stress or ‘what-if’ scenarios. |
Scenario margining (what-if scenario) is specifically featured in risk management solution. | |
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Portfolio Margining Margin calculation considers risk offsets at the portfolio level. |
Portfolio margining indicated in materials related to portfolio risk offset. | |
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Real-time Breach Notification Detects and notifies about margin breaches as they occur. |
Real-time margin breach notifications delivered to users upon breach. | |
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Minimum Margin Enforcement System enforces predefined minimum margin requirements. |
Minimum margin rules/controls highlighted in compliance and risk policy features. | |
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Margin Requirement Analytics Visual analytics and reporting for margin set, called, and posted. |
Analytics and visualization for margin history, utilization, and performance are included. | |
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Historical Margin Utilization Reporting Tracks margin utilization trends over time. |
Historical tracking/reporting of margin utilization cited in solution documentation. | |
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Automated Liquidation Triggers Auto-initiates asset liquidations if margin calls are not met. |
No information available | |
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Multi-currency Margin Support Handles margin calculations across multiple currencies. |
Handles margin calculations and reports in multiple currencies. | |
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Client Notification Workflow Automated communications for margin requirements. |
Automated, client-facing notification workflows for margin calls and reminders. |
Risk Analytics & Reporting
(9 Yes /9 Known /10 Possible features)
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Custom Report Builder Enables users to design customized credit risk and exposure reports. |
Custom report builder, with configurable and templated reporting, confirmed as a feature. | |
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Regulatory Reporting Templates Predefined templates for BASEL, EMIR, and other regulatory regimes. |
Basel/EMIR and other regulatory templates are included in out-of-box solution. | |
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Trend Analysis Tools Analyze trends in exposure, margin, and limit breaches. |
Historical and current-trend analysis reported as available within dashboard analytics. | |
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Real-time Dashboard Widgets Allows for live visualization of exposures and limit statuses. |
Real-time dashboard component described for risk and exposure management. | |
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Export to Multiple Formats Supports data export in XLS, PDF, CSV, XML, etc. |
Multi-format export and report function confirmed. | |
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Scheduled Report Automation Automatic generation and distribution of risk reports. |
Scheduled reports/automated distribution described among standard report features. | |
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Access and Permissions Management Controls report access by user, group, or role. |
Granular access/permission control configurable by role. | |
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Drill-down/Drill-through Reporting Interactive exploration from summary to detail in reports. |
Reporting has drill-down and drill-through functionality. | |
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Exception and Outlier Detection Flags exposures or limit utilizations that deviate from historical norms. |
Exception flags for outlying exposures or breaches included in analytics. | |
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Report Generation Speed Time taken to produce standard risk reports. |
No information available |
Integration & Interoperability
(8 Yes /8 Known /10 Possible features)
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API Availability Exposes RESTful and/or SOAP APIs for data exchange. |
APIs (REST/SOAP) are core for integration and interoperability. | |
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FIX Protocol Support System supports FIX messages for trading and credit checks. |
FIX protocol supported for credit checks and trading integration. | |
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Plug-ins for Major OMS/EMS Pre-built interfaces to most major Order/Execution Management Systems. |
No information available | |
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Batch Import/Export Handles large data imports/exports on a scheduled or ad-hoc basis. |
Handles scheduled/ad hoc batch data imports/exports for both static and transactional data. | |
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Real-time Data Feed Integration Integrates with market data, reference data, and clearing services. |
Product advertises ability to integrate real-time feeds for market/reference/clearing data. | |
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Single Sign-On (SSO) Seamless authentication integration via SSO protocols. |
Supports SSO with SAML and other standard authentication protocols. | |
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Custom Integration Toolkit Provides tools for building custom connectors or adapters. |
Custom integration toolkits and SDKs for integration with other systems. | |
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Latency of Integration Minimum time delay for real-time data synchronization. |
No information available | |
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Cloud-native Support Ready for use in public/private/hybrid cloud environments. |
MX.3 is cloud native and also supports on-premises deployments. | |
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Data Transformation Utilities Automated translation/mapping between external and internal data formats. |
Automated data transformation and mapping supported for integrations. |
User Experience & Customization
(8 Yes /8 Known /10 Possible features)
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Role-based Dashboards Tailors presentation and data access by user role (risk, sales, operations, etc.). |
Role-based dashboards and UI customization highlighted for different user personas. | |
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Self-service Configuration Users can customize workflows, alerts, and reports without IT intervention. |
Users can configure workflow, alerts, and some UI elements without IT involvement. | |
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Notification Preferences Users can define how and when to receive alerts (email, in-app, SMS). |
Product allows users to set preferences for alert delivery methods. | |
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Accessibility Features Supports accessibility standards for visually or physically impaired users. |
No information available | |
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Multi-language Interface System provides UI in multiple languages. |
Supports multiple interface languages. | |
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Web and Mobile Access Available via both web browser and mobile applications. |
Web and mobile accessibility are offered via web-based platform and mobile support. | |
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Custom Theme/Branding Allows organizations to apply their own branding and style. |
Custom theming and branding supported for white-label deployments. | |
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Average Screen Load Time Time to load standard user interface screens. |
No information available | |
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Help and Training Modules Built-in training and contextual help documentation. |
Extensive help/training documentation and modules included. | |
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User Feedback Mechanism In-app submission of suggestions, feature requests, or issues. |
In-app feedback feature is available for user suggestions and issues. |
Security & Compliance
(9 Yes /9 Known /10 Possible features)
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Data Encryption Uses strong encryption for data at rest and in transit. |
Data is encrypted at rest and in transit, per industry security standard. | |
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Access Control Robust, configurable permissions down to the field level. |
Strong and granular access control described in security documentation. | |
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Audit Logging Full logs of user activities and system events. |
Full audit logging and compliance monitoring are standard security features. | |
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GDPR/CCPA Compliance System facilitates compliance with privacy regulations. |
Supports compliance with major regulations including GDPR and CCPA. | |
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Secure API Authentication Supports OAUTH2, SAML, or similar protocols. |
Secure API authentication, including OAuth2, SAML protocols. | |
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Penetration Testing Status Whether the product undergoes regular penetration tests. |
MX.3 undergoes regular external penetration tests for security compliance. | |
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Segregation of Client Data Prevents access to one client’s data from another client’s users. |
Strong data segregation and multi-tenancy model for strict client data isolation. | |
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Automated Compliance Checks System runs policy checks on all risk and limit actions. |
Enforces policy-based, automated compliance checks on all risk/limit activities. | |
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Configurable Data Retention Policies Ability to set data archival/scrubbing rules for regulatory retention. |
Data retention and cleanup settings are configurable for regulatory compliance. | |
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Incident Response Time Expected time to respond to security/compliance alerts. |
No information available |
Monitoring & Alerting
(9 Yes /9 Known /10 Possible features)
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Real-time Breach Alerts Instant notifications of exceeded credit limits, margin shortfalls, or other key thresholds. |
Real-time monitoring and breach notifications are explicitly included in alerting modules. | |
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Configurable Alerting Rules Users can define custom alerting logic and thresholds. |
Users can create/edit alerting rules, logic, and thresholds via configuration. | |
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Alert Escalation Workflow Escalates unaddressed alerts to higher-level management. |
Alert escalation workflows described as part of incident/alert management. | |
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Alert Delivery Methods Methods supported (email, SMS, push, system inbox). |
Supports alert delivery via email, SMS, push, and system inbox. | |
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Historical Alert Log Full history of triggered alerts and user responses. |
Historical alert logs and response history assured for audit/compliance. | |
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User Acknowledgement Tracking Requirement and tracking of user acknowledgement on critical events. |
Tracks acknowledgment of critical user alerts/events as part of audit framework. | |
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Average Alert Delivery Latency Time to deliver and acknowledge alerts. |
No information available | |
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Automated Remediation Initiates workflow actions (e.g., block trades) when breaches persist. |
Automated remediation, such as trade blocking or auto-escalation, is available. | |
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24/7 Monitoring Capability Around-the-clock surveillance of critical risk metrics. |
MX.3 supports round-the-clock monitoring of credit risk and exposures. | |
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Alert Prioritization Ranking and color-coding of alerts by criticality. |
Alert prioritization and color coding are standard for high-velocity risk workflows. |
Administration & Maintenance
(8 Yes /8 Known /10 Possible features)
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Bulk User Administration Add, edit, or remove multiple users simultaneously. |
Bulk user admin available as part of admin console and user import tools. | |
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Self-healing Infrastructure Automated system recovery and failover capability. |
No information available | |
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Scheduled Maintenance Tools Tools for system updates, backups, and maintenance windows. |
Backup/maintenance scheduling and tools are part of system admin panel. | |
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Health Monitoring Dashboard Live view of system health and component status. |
Health monitoring dashboard for technical/admin status included. | |
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Change Management Logging Full audit of all configuration and maintenance changes. |
Audit and change management logging are included for compliance. | |
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Automated Uptime Reporting Automated calculation and alerting for system availability. |
Uptime metric and outage alerting part of system dashboards. | |
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Average System Downtime Average downtime per month during maintenance or outage. |
No information available | |
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Automated Backup Scheduling Schedule and execute regular full/system backups. |
Backup scheduling and automation described as standard practice. | |
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Role-based Administration Controls Limits admin function access by role. |
Admin controls can be set by user role within platform admin features. | |
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Cloud or On-prem Deployment Option Available for either on-premises or cloud environments. |
Product supports both on-premises and cloud deployment options. |
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