October 22, 2008 - BANGALORE, India and PARIS, France
MindTree Ltd., a global IT and R&D Services Company, and Murex, the leading provider of cross-asset trading, risk management and processing solutions, today announced a strategic partnership. MindTree becomes a preferred partner of Murex for system implementation and support services and hosts the Murex Offshore Development Center (ODC) in Bangalore.
The ODC provides an extension of the new Murex division, CDS (Customer Delivery Services), and serves Murex's technology needs in system implementation tools and technologies. The first assignments will focus on the Murex MX.3 platform upgrade program and will include report and datamart development and conversions. The current team of Murex consultants at MindTree is approximately 100 people and is expected to grow rapidly and cover the full spectrum of Murex capabilities.
"MindTree and Murex have been working together for several years, and today we are taking our partnership to the next level," said Philippe Helou, founding partner, Murex. "Over the course of our relationship, MindTree has demonstrated the ability to provide a talent pool that understands our solutions and we have delivered several successful engagements jointly, including those for some large European, Australian and Asian banks. Combined with our closely aligned corporate values, we feel this partnership will bring seamless professional support and reduced Total Cost of Ownership to our customers."
Murex focuses its resources and R&D investments on providing the world's top financial institutions with innovative integrated solutions covering all front-office, risk management and back-office operations while delivering in-depth functionalities for a wide range of asset classes - from basic to the most complex structured and derivatives products. Sell-side financial institutions, utilities, corporations, hedge funds, private banks and asset managers rely upon the Murex MX portfolio to support their capital markets activities and gain sustainable edge.
"MindTree is very excited to be embarking on the next stage of its relationship with Murex. This relationship helps to further deepen our service offerings in the Banking and Capital Markets space," said Ashok Hegde, vice president, Capital Markets, MindTree. "Murex is a recognized global leader in the Capital Markets, and its selection of MindTree as a preferred implementation and offshore partner is an important endorsement of our industry expertise."
MindTree's Capital Markets offerings are structured around the derivatives practice, equity and fixed income, hedge funds, package expertise and architecting and solutions. MindTree's Capital Markets services encompass Front Office (sales, trades, market making and repossession); Middle Office (risk management, analytics, feed services, trade and decision support); and Back Office (clearing, settlement, accounting, payment and reconciliation services - cash, trade books, and depository system management and reconciliation).
Building on over 22 years of successful presence in capital markets with over 200 clients and 23,000 users worldwide, Murex has developed an unmatched competence in the design and implementation of cross-asset trading, risk management and processing solutions. Our motto “Pioneering Again” sums it all up: for nearly two decades, Murex has reinvented itself time and again to escort capital markets revolutions - each time offering innovative software solutions to the industry. For three years in a row, the annual end-user Technology Ranking conducted by Risk Magazine has acknowledged Murex as the Overall Top Technology Vendor in the risk management and derivatives arena.
A team of over 1000 specialists located in Europe, America and Asia is dedicated to providing clients with the best support in the industry.
MindTree Limited is a global IT and R&D Services Company co-headquartered in the U.S. and India. With a passion for customer satisfaction, MindTree partners with its clients to create a transparent, value-based relationship. Our domain experts deliver business-enabling solutions by leveraging a consulting-led, framework-based and IP-driven approach. MindTree's IT Services business provides a range of services to CIOs across a variety of industry segments. Our R&D Services business works with Technology companies to help build innovative products by providing Product Realization services. MindTree has acquired an 80% equity stake in Aztecsoft Ltd., a global leader in outsourced product development and independent testing. The Company intends to complete the merger by April 2009.
MindTree was named among the Top 30 offshore service providers by the International Association of Outsourcing Professionals and Fortune Magazine. Widely known for its focus on human capital development, MindTree has been consistently rated among the most admired employers by several industry surveys, including Hewitt Associates and Mercer/TNS, and is also the winner of the MAKE Award for knowledge management. MindTree has been selected as one of the Top 25 companies for good Corporate Governance practices. MindTree is publicly listed in India. Please visit us at www.mindtree.com.
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