Technology vendor of the year and System support and implementation provider of the year: Murex

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Financial institutions across Asia‑Pacific (Apac) are under growing pressure to modernise ageing trading and risk systems while managing the surging complexity of products and regulatory demands. The region’s markets are expanding rapidly, but legacy infrastructure and fragmented processes often slow innovation and increase operational risk.

Murex has positioned itself at the centre of this transformation, combining sustained investment in its MX.3 platform with a delivery model that helps clients upgrade continuously and scale with confidence across fast-evolving markets.

Technology innovation

Alexandre Bon, Murex

Over the past decade, Murex has invested more than €1 billion into research and development. In 2024, it reinvested €140 million to extend MX.3’s capabilities across digital assets, high-performance risk analytics and artificial intelligence. Recent innovations address the challenge of managing the growing volume and complexity of structured and exotic products within tight regulatory and performance constraints.

In Apac, the demand for callable range accruals, equity-linked autocallables and complex interest rate structures has surged, particularly in South Korea and Japan.

Murex’s library of advanced analytics and its Python-based User Payoff Language allow banks, such as the South-Korean headquartered Shinhan Bank, to create and deploy new structures rapidly while maintaining full integration across pricing, risk and back-office functions.

Alexandre Bon, Murex’s head of market development for Apac, emphasises the capability: “We are the only vendor which has such a breadth of asset classes and business processes from the front office to the back office – and risk – covered on a single platform.”

To meet the computational demands of complex risk models, clients also increasingly rely on MX.3’s hybrid CPU-GPU architecture, cloud integration and continuous performance optimisation. In partnership with UOB, Murex introduced tailored enhancements that halved the run time of the 60-day FRTB-IMA calculations, and accelerated valuation adjustments and potential future exposure simulations by 20%.

A recent Murex/Nvidia benchmark study showed even greater performance gains on next-generation hardware, including the Nvidia Hopper superchip, underscoring MX.3’s scalability.

Murex is exploring the application of neural networks for derivatives pricing, aiming to make real-time risk analytics more accessible. Its research focuses on a machine learning architecture tailored to the specific characteristics and model dynamics of exotic products, delivering stable sensitivities at a fraction of the computational cost. Benchmark tests reveal pricing speeds thousands of times faster than traditional Monte Carlo methods, offering smaller institutions access to advanced analytics without a heavy infrastructure burden.

Beyond performance, Murex is developing its Book of Record to strengthen data integrity across trading, risk and accounting. The design provides a unified, real-time source of truth, improving transparency and efficiency and supporting real-time profit and loss and regulatory reporting.

Implementation and client support

Murex’s success rests as much on technical innovation as it does on how its technology is delivered and adapted to client needs. The company has reshaped its support and implementation model through managed services and upgrade automation, allowing clients to evolve their platforms continuously rather than through disruptive projects.

Nick Thomas, Murex

Central to this model is Murex’s development operations-driven solution, MXevolve, which combines an ‘upgrade-as-a-service’ framework with continuous integration and deployment tools specific to MX.3. The approach enables institutions to keep their platforms current while reducing operational risk and internal efforts. The goal is to make consumption of platform innovation “more continuous and discreet in nature”, explains Nick Thomas, Apac head of client services at Murex.

For example, a major regional bank used MXevolve to run multiple parallel projects while maintaining a predictable upgrade cycle. A major version upgrade was completed within six months despite a 50% larger scope than previous cycles, and the bank has since accelerated its end-to-end development cycle by one-third.

Key to this success is Murex’s approach to partnership. Rather than relying heavily on third-party providers, Murex leads projects with its own consultants and embeds dedicated support teams with each client. These teams maintain an intimate understanding of the client’s environment, enabling faster issue resolution and better alignment between business goals and technology evolution.

Reflecting on Axis Bank’s MX.3 deployment, Rupesh Karanjawala, executive vice-president and head of treasury operations, notes: “Our longstanding and strong partnership with Murex has been the cornerstone of this remarkable achievement.”

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The managed services offering has also grown rapidly. Forty clients globally – and an increasing share in the Apac region – now use the model. Murex’s Vietnam hub, established in 2024, provides test engineering and MX.3 technical expertise to regional clients and is expected to double in size by the end of the year. A new office in Mumbai is also planned for 2025 to meet rising demand from India’s expanding derivatives and treasury markets.

Balancing innovation with resilience

Murex balances cutting-edge technology with operational reliability. Its software‑as‑a‑service offering achieved SOC 1 and SOC 2 Type 2 certifications with zero exceptions, posting availability above 99.9% over the past year. New features such as MXHealthCheck, now used by 70% of Apac clients, enable proactive system monitoring and early issue detection.

Looking ahead, Murex is pushing into AI-driven monitoring, open application programming interfaces for integration and expanded digital asset coverage. The company’s forward-looking approach, combined with a long-standing local presence across the Apac region, has made it a trusted partner for institutions navigating modernisation and regulatory change.

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