Murex's 2024 FX options strategy focused on meeting the trading needs of all FX options desks – from regional institutions to leading global banks. Its key achievements include scaling up real-time portfolio management, expanding its new stochastic local volatility (SLV) model, and supporting digital transformation through new application programming interfaces (API).
The MX.3 platform is used by more than 130 banks or financial institutions for FX options trading. This represents several thousand users who rely on their installation of MX.3 to trade, risk manage and process their FX options trades every day.
During the review period, Murex aimed to enhance risk-based P&L, allowing traders to understand P&L changes in real time and ensure effective hedging. It allocates P&L changes on the Greeks/sensitivities that are used by traders to monitor and hedge their portfolio, providing a better understanding of their position.
Murex also added new products to its catalogue, including Asian with European barrier and Digital Kiko, which will be integrated into its MX.3 platform. This will enable clients to be able to offer these FX options payoffs to their own clients, with faster market deployment and lower integration costs.