Murex, one of the most important financial software producers in Europe, will soon open offices in Cyprus, according to tech industry sources. The company is planning a move to Nicosia.
The third largest French software producer, Murex will add Cyprus offices to its 17 locations worldwide. More than 100 workers will be relocating to the island, for permanent operations. The company, which has been rated fifth in France by Glassdoor among companies as a place of employment. It has also been rated 10th in France by Codingame for the quality of its workforce.
Murex is the latest to announce a move to Cyprus, in what can now be called a wave of high-tech company relocations spearheaded by InvestCyprus, and attracted here by the growing tech community and improving infrastructure.
For more than 30 years, Murex has been at the forefront of capital markets trading software which is now used by more than 50,000 people across the globe. This is a trusted platform for financial institutions, one that integrates risk management and operates from the Cloud.
The Murex platform enables companies to retire legacy systems and manual work processes and to migrate to a common shared platform that covers the whole trade lifecycle, from trading and risk management all the way through to accounting.
Murex could not be reached for comment on the story, but it is clear that the company is expanding rapidly.
“Murex’s long-term strategy of a single integrated platform covering sales, trading, investment management, treasury, operations, finance, collateral management and enterprise across all asset classes is paying off in the current industry environment. A growing number of institutions desperate to reduce technology complexity and costs and improve efficiency are looking to consolidation of their applications on a unified platform as the answer,” writes Risk.Net.
The company has worked to create a trading platform that integrates with corporate treasury software, and today its MX.3 has a proven track record in supporting all types of clients, from global money centres to local banks, from large asset managers to medium-sized hedge funds, and from large corporations to energy utilities. Users rely on Murex every day for their trading, hedging, funding, risk management or processing operations.
“During recent market volatility and uncertainty, the Murex MX.3 solution showcased outstanding capabilities in managing high trading activities and fast and accurate hedging strategies,” writes Bobsguide. “By way of example, the full integration of derivatives value adjustment (XvA) into the trading tools and broad product coverage with powerful analytics for exotic products most definitely aided our clients in weathering the storm.”
Cyprus will offer Murex convenient access to Middle East markets with a secure environment and, of course, its satisfying lifestyle.