Reconciliation specialist Duco and processing provider Murex have teamed up to provide clients with what they say is a “comprehensive data reconciliation solution enabling improved automation and straight-through processing across a range of asset classes.”
Murex said it was committed to bringing innovative solutions to its 50,000 users who rely on MX.3, Murex’s platform, to support their daily business activities.
According to a joint statement, through this partnership, MX.3 data is natively available in Duco’s cloud-based SaaS platform allowing Murex clients from the sell-side or the buyside to perform key reconciliations related to their security, collateral, cash positions and progressively additional financial objects. Analysts say this would enable MX.3 users to benefit from the following:
• Plug and play – users can seamlessly upload data from MX.3 into Duco’s SaaS platform and run reconciliations in a matter of minutes, with no coding or development needed
• Machine learning – Duco’s machine learning functionality greatly increases reconciliation setup speeds while reducing exceptions and manual interventions
• Smart workflow – exceptions can be automatically labelled and assigned to individuals or groups, while users can take action directly from the MX.3 dashboard
Christian Nentwich, CEO of Duco, said that Murex is constantly investing in MX.3 to simplify operations, increase automation and reduce operational risk. “In the current environment, reducing operational risk by improving data integrity and removing manual work has arguably never been more important,” he said. “Our mutual clients will see significant time savings as a result, while also having complete trust in their data.”
“This partnership allows us to propose the best post-trade solution to our clients to better control operational risk management, increase STP rates and ultimately automate the end to end processes,” added Etienne Ravex, Head of Product Management for Operations at Murex.