The National Bank of Canada (NBC) has gone live on Murex’s MX.3 risk and regulatory suite for capital markets risk management and regulatory compliance.
MX.3 is enabling the bank to simplify the way it meets its regulatory obligations by applying the latest value at risk and stress testing methodologies.
According to Murex, NBC will benefit from incremental scenario generation and the import of historical time series for newly-traded instruments, wide risk factor coverage and increased automation of the correction process for trades and market data.
Philippe Leduc, senior risk manager at NBC said: “Murex has been a key technology partner for financial markets. We are pleased to have worked closely with their team to streamline our approach to market risk management infrastructures, data, and processes.”
“In the long run, it means we have a flexible solution that allows us to simplify the market risk ecosystem and prepare ourselves for future initiatives.”
Normand Tanguay, head of Murex Canada, commented: “As a result of this project, NBC is in a great position for Fundamental Review of the Trading Book (FRTB) compliance.”
He added: “Now that the pending questions have been answered by the regulator, it’s clear that FRTB will have an undeniably large impact on the banking industry and early preparation is key. We are delighted to see the success of this project and look forward to working closely with NBC on future endeavors.”
