Alveo, a provider of cloud-based market data management services, and Murex, a vendor of trading, investment management, risk and processing solutions, have partnered to bring together Murex’s MX.3 front-to-back-to-risk investment management system (IMS) and Alveo’s financial data management solution to support client data operations and provide MX.3 users with accurate, dependable and auditable data.
The partnership offers managed data services to Murex buy-side customers as part of the MX.3 investment management solution, resulting in a front-to-back risk IMS solution powered by Alveo’s cloud native data management technology. It recognises the large number of sell-side firms already using both Murex and Alveo solutions, the potential of an integrated managed service offering, and a growing interest among buy-side firms to move away from in-house builds to Software-as-a-Service (SaaS) and underlying Data-as-a-Service (DaaS) solutions.
Martijn Groot, chief marketing officer at Alveo, says the buy-side trend towards managed services is driven by a need to move on from legacy systems, speed up solution onboarding, avoid long implementations, and reduce costs. He explains: “Asset managers and owners are moving away from in-house data management builds as they are constrained by legacy technology and the costs of adding more datasets. Building an integrated managed service model makes more sense for customers and suppliers as there is no need for data integration.”
Beyond the integration of Alveo and Murex and the resulting managed service, Groot suggests similar partnerships could be a possibility going forward, perhaps in regulatory reporting or other aspects of compliance.
The partnership between Murex and Alveo provides Murex users with access to Alveo product master datasets that are specifically formatted for MX.3 as well as extensive data model and standard integration libraries. The companies both cover a broad set of markets and assets including listed derivatives, bonds, stocks, funds, structured finance products, CDS and OTC products, index data products and corporate actions data.
Using aggregated ESG data from Alveo, the partnership also supports ESG investment decisions, including ESG risk ratings, carbon risk ratings, EU Taxonomy information, SFDR data and ESG index data. Customer workflows including regulatory compliance are facilitated by combining accurate information with complete data lineage from Alveo with the Murex MX.3 regulatory solution.
“We have long worked together on the sell-side with many global banks as joint customers, but increasingly work together on the buy-side as well,” says Alveo CEO Mark Hepsworth. “The buy-side is our fastest growing client segment and firms typically have many different sources of pricing and reference data combined with increasingly data-hungry business stakeholders and more granular external reporting requirements. Effectively aggregating, validating and then putting this data to work in business applications such as Murex becomes ever more critical.”
David Bellaiche, head of Murex’s buy-side business line, adds: “Our partnership with Alveo amplifies the capabilities of Murex’s MX.3 platform, bringing a new level of data intelligence and operational efficiency to the forefront of investment management. It provides our clients with streamlined access to critical data and insights, plays a crucial role in lowering operational costs and improves their ability to navigate financial markets with precision and efficiency.”
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