ITRS has partnered with integrator Excelian to add Murex to the list of trading and risk applications handled by its Geneos performance monitoring system. The arrangement will give mutual clients access to real-time metrics on system performance for Murex solutions.
ITRS already delivers predictive, real-time monitoring and management capabilities for over 100 third-party trading and risk applications. Its Geneos dashboard has been at the heart of delivering a complete view of all systems where disparate data is aggregated to create a single source of business intelligence.
However, this particular deal appears to signal a gear-change in market penetration by developing the capabilities to partner with Murex, considered an industry leader in integrated trading and risk management solutions.
Kevin Covington, ITRS CEO, says that the addition of another third-party development partner is a key element in the firm’s business growth strategy. And he acknowledges the surge in demand for more tools and capabilities that deliver both the data management and analytics to give clients a perspective across the trade lifecycle. More such deals are in the pipeline and are expected to be announced soon.
Certainly the swathes of new regulatory obligations have forced financial institutions to be able to both demonstrate and deliver better real-time visibility of operations, including right through to post-transaction reporting. ITRS is clearly a beneficiary of these new compliance requirements, but Covington notes that demand is also driven by business owners expecting a better perspective to be able to make more-informed decisions.
“The reality is that we are now in a constantly changing environment, which requires more information and intelligence to cope with these faster-moving market dynamics,” said Covington. He agrees that, where latency was a prime competitive differentiator, it now rests more heavily on the business ability to understand the characteristics and changes across the whole transaction flow – not just the network and its latency.
The pursuit of deals like the Excelian/Murex arrangement will continue, says Covington, particularly as customers increasingly want a single point of contact, implementation and solution management. This is driven as much by the need for greater efficiency as it is for cost and skills management.
In an accompanying statement, ITRS said: “Increasingly risk management systems are being seen as ‘real-time’. Time deadlines such as the need to complete confirmation of payments before day-end and the need to react to position movements within specific SLAs are crucial. Therefore demand for a more real-time view of that post-trade environment and the drive to ensure risk systems have the highest availability, have led to increased demand for monitoring of these systems.”