National Australia Bank (NAB) is now live with Murex’s upgraded MX.3 FX cash platform on its foreign exchange (FX) activities across the trading arena, covering sales, finance, product control and risk for its internal and external trading clients.
As well as centralising its trading operation, the new Murex cash platform gives NAB specific local features such as a Spot Date roll for $NZD trading and intra-day repatriation of overseas margins in Austral Asia; all designed to improve its real-time trading capabilities and enhance live desk-level risk monitoring activities.
Commenting on the deployment of the Murex platform, Tom Pragastis, global head of FX and commodities trading and financial institutional sales, NAB said: “The decision to consolidate all FX products on a single platform was a major milestone in our strategy. We were confident in Murex’s capability to deliver a technology that met our standards of business and efficiency and we are already reaping the benefits in terms of cost savings and revenue opportunities. The strong local support and professionalism of the services we received from Murex were contributing factors in our decision to have them as a partner for this new venture."