Germany’s Commerzbank has teamed up with French financial services company Murex and Indian information technology (IT) consulting company Infosys to upgrade its trading platform.
The German lender has completed a strategic migration of its global FX, FX derivatives, equities, and commodities activity onto Murex’s integrated MX.3 platform.
Infosys supported the bank in optimising the usage of Murex’s suite of solutions and services and carried out development, integration, testing and migration, alongside aftercare support.
The collaboration helped Commerzbank improve its trading operations and simplify its technology while reducing the cost of managing multiple servers and platforms.
Commerzbank CIO Sebastian Kauck said: “The successful platform consolidation is a major achievement. Throughout this project, the collaboration of our internal teams with Murex, TeamTek and Infosys has always been an integral part of its success.
“The new setup enables Commerzbank to significantly enhance process efficiency and simultaneously reduce costs. Additionally, it lays the foundation for future business growth as we can more swiftly adapt to market changes.”
Murex Central Europe managing director Luc Testud said: “This creates the opportunity for future expansion through an integrated cross-asset platform, accelerating time to market to innovate and enabling further steps of digitalization.”
Murex is a provider of trading, risk management and processing solutions for capital markets.
The company is accompanied by Infosys and TeamTek a Bounteous x Accolite company, in upgrading Commerzbank’s trading platform.
Infosys created a comprehensive suite of services on MX.3 to be used by Commerzbank.
The IT company carried out development, integration, testing and migration activities alongside go-live and aftercare support for the bank’s trading platform.
TeamTek has played a key role in the migration program, from the testing automation implementations to the full end-to-end delivery of the equity migration project, said Murex.
The companies supported Commerzbank in achieving model simplification, along with further expansion of business, consolidation, modernisation, and digitalisation.
TeamTek co-founder Christine Al Khalil said: “Since the start of our collaboration in 2020, our unwavering commitment to Commerzbank was to bring quality and expertise, a delivery focused mindset and a flexibility in problem-solving.
Infosys executive vice president and banking and financial services global head Dennis Gada said: “We are delighted to collaborate with Commerzbank on their digital transformation journey towards a unified Murex platform for multiple asset classes.
“This consolidation has empowered Commerzbank to improve time to market, streamline operations, simplify the current technology landscape, promote standardization, and effectively manage regulatory changes while cultivating sustainable growth.
