Case Study: National Bank of Canada achieves front-office and risk alignment and FRTB readiness with Murex MX.3

National Bank of Canada - Customer Case Study

National Bank of Canada (NBC), one of Canada’s systemically important banks, needed to replace an end-of-life VaR system and close the gap between front office and market risk while preparing for upcoming FRTB requirements. Seeking a future-proof, cross-asset platform that would increase transparency and reduce time-to-market for new products, NBC selected Murex and its MX.3 platform to deliver a unified market risk management framework.

Murex implemented MX.3 in staged deployments, consolidating multiple systems into a single MX.3 instance, expanding risk-factor coverage, increasing overnight risk calculations, improving market connectivity and adding automatic correction processes. Following the October 2018 go-live, NBC now uses one pricing library for front office and risk, has faster debugging and dramatically reduced reconciliation and operational risk, and retrained developers as Murex experts—demonstrating clear operational and control improvements from Murex’s solution.

National Bank of Canada

Philippe Leduc

Senior Risk Manager