Arab National Bank Goes Live With Murex's MX.3 for Treasury Front-to-Back Office Including Risk Solution

Jun 07, 2010, 09:58 ET from MUREX

PARIS, June 7, 2010 /PRNewswire/ -- Murex, the leading provider of integrated trading, risk management and processing solutions, is proud to announce that Arab National Bank (ANB), one of the leading banks in the Middle East, has gone live on Murex's MX.3(TM) front-to-back office treasury solution.

MX.3(TM), Murex's core integrated platform, is being used in the bank's London and Riyadh offices to handle the treasury activity across a broad range of asset classes spanning foreign exchange, money market, fixed income and derivatives while delivering a full range of functionalities including pricing, booking, risk management, value at risk, limit control, confirmation, payment and accounting.

The platform was rolled out in order to meet Arab National Bank's concurrent goals within a single platform: extend treasury activities to derivatives trading, automate and streamline business processes for increased efficiency. "Murex provides wide coverage of products across asset classes and this would help us to offer more sophisticated products and solutions to our clients. With one key success of the project being the quality and dedication of the on-site Murex resources demonstrated throughout the hand-in-hand implementation and daily support, we feel we have found a strong ally for the future. We appreciate the support and co-operation extended by Murex and our special thanks to Mr. Philippe Helou, General Manager and Head of Business Development, Murex." said Mohideen Saleem, Head of Trading at Arab National Bank.

Philippe Helou, General Manager and Head of Business Development of Murex S.A.S., adds: "We see the relationship with Arab National Bank as a partnership. Over the past few years, time and resources have been devoted to prove our commitment to grounding our presence in the Middle East and we are glad to add a significant and prestigious client such as Arab National Bank to our growing list of clients in the region. "

About Arab National Bank

Arab National Bank (ANB), a Saudi Joint Stock Company is one of the top ten banks in the Middle East. Since it's inception in mid 1979, ANB operates through its 168 local branches and one branch in London, UK since 1991. ANB offers a full range of domestic and international commercial and Islamic products and services to the retail and corporate sectors. The Bank also offers a consultancy and investment, mutual funds and assets management, local & international equity trading, foreign exchange and treasury services.

For further information please visit http://www.anb.com.sa

About Murex

Building on over 24 years of successful presence in capital markets with over 200 clients and 35,000 users worldwide, Murex has developed an unmatched competence in the design and implementation of cross-asset trading, risk management and processing solutions for the world's leading banks, hedge funds, asset management companies, corporations and utilities. Our motto "Pioneering Again" sums it all up: for nearly two decades, Murex has reinvented itself time and again to offer innovative software solutions adapted to an ever-changing financial landscape. A team of over 1,200 specialists located in Europe, America and Asia is dedicated to providing clients with the best support in the industry.

For further information please visit http://www.murex.com

SOURCE MUREX