MX.

3 for FX Options
Trading
MX.3 for FX Options Trading is perfectly adapted to the needs of sales and traders in
today’s market, supporting the development of new business via electronic distribution
of vanilla and exotic products to an institutions’ core client base. It is used by more than
130 Murex clients, helping them meet risk, margining and transparency requirements at
a reduced total cost of ownership.

• Leverage existing products and analytics library to

Key benefits
• Leverage one of the widest native product
libraries for FX derivatives trading in the market.
• Empower collaboration between clients,
traders and sales with flexible communication
workflows and digital distribution.
• Benefit from the market reference for real-
time portfolio management.
• Drive profitability with powerful analytics
including the latest market practices in curves,
risk models, advanced volatility marking, and
valuation, such as SLV.
• Maximize margin with a fully automated value
chain that begins with the client, sales and
traders, then flows through to the back-office.
Comprehensive and extensible
product library
• Covers over 40 out-of-the-box payoffs and strategies,
from plain vanilla options to the most exotic
instruments, integrated from front-to-back-to-risk.
deliver fully integrated payoffs, with the possibility
to create any combination or strip, and easily add
financial features with the user payoff language.
• F
 urther extend product coverage with a dedicated
API to plug-in external payoffs.
Leading real-time portfolio management
• C
 omprehensive and accurate real-time view
of risk covering bucketed Greeks, risk topography,
FX and IR Delta hedge views, and smile sensitivities
management.
• D
 edicated exotics monitoring views including Delta
gap at barrier and TARF target monitoring.
• S
 ticky strike, sticky Delta or user-defined dynamics can
be used and compared for portfolio Greeks monitoring.
• What-if risk matrices and stress scenarios rely on
a distributed computing architecture to get fast results.
• Streamlined lifecycle and funding management
covering exotics monitoring at a glance, one-click
knock, bulk management of exercises, knocks,
unwind and fixings, and rollover of cash positions.

• Comprehensive product list includes first- and second-

generation exotics, accumulators, TARFs, volatility
products, basket options, and DCDs.
Efficient pricing and distribution framework
• P
 rice competitively and optimize trading cost with
pre-trade risk analysis, including all sensitivities, limit
checks and xVA metrics.
• S
 upports FX-specific market practices for corporate
and interbank dealers, including automated Delta
hedging and bid/ask spread on market data.
• Efficiently connect sales and traders with real-time
publication of volatility surfaces and an embedded
RFQ workflow.
• Allows sales to build new product structures on the
fly and save them in archives for later reference.
• S
 treamlines communication with clients, for example
automatically generates pre-trade termsheets including
payoff and Greeks graphs.
• Accessible online via the client web distribution
suite including one-click trading with configurable
distribution of price matrices.
Supports market best practices for analytics
• Supports market standard models, including local
volatility, Vanna Volga replication and stochastic local
volatility with calibration on the whole term structure.
Optimal volatility modeling
• Apply embedded market conventions with broker
strangle and bid/ask spread management for ATM
volatility and smile surface.
• Management of illiquid and cross-currency pair
volatilities, through ATM correlations and dynamic
link with liquid pairs or tenors.
• Advanced smile interpolation with market standard
geometric, parametric or replication methods,
for example Vanna Volga.
• Accurate time interpolation with weights for event
days and cut-off time difference management.
The power of a single platform
MX.3 is an open and modular platform that sits at
the center of your IT infrastructure and is connected
to the wider market. Part of this single platform, all
MX.3 trading solutions give you advanced front-
office analytics and a consolidated view of risks and
assets in real time, with native integration of trading
and risk. It also provides full coverage of post-
trade operations, from documentation through to
settlement, reporting and accounting.

• Accurate collateral-based OIS discounting is available

for pricing and position management.
• Open to external models.
• Consistent internal and external evaluation models,
from front-to-back-to-risk.
• L
 atest technologies, such as GPU, deliver quick
valuation without sacrificing accuracy.
• Validate models with an automated analytics validation
framework, helping reduce costs.

EMEA Americas Asia Pacific

Paris + 33 1 44 05 32 00 New York + 1 212 381 4300 Singapore + 65 6216 02 88 murex.com murex @murex_group info@murex
Beirut + 961 1 356 000

MUREX, Murex logos and product names are trademarks of Murex S.A.S. and Murex S.A.S. reserves all intellectual property rights with respect to the trademarks.
All other trademarks are the trademarks of their respective owners.