Odeabank implements MX.3 for FRTB solution 04 September 2025Turkey, France Reporter: Zarah Choudhary
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Odeabank has become the first Turkish bank to implement Murex’s MX.3 for the Fundamental Review of the Trading Book (FRTB) solution.
MX.3 for FRTB covers the full calculation chain down to the final charge and is compliant with the standard approach and the internal model approach.
According to the bank, following the implementation, calculation consistency has been gained across assets and departments at Odeabank, eliminating data duplication along with the need for internal reconciliation.
This allows the bank to maintain a single golden source of reference and trade data for front office valuation, while simultaneously calculating regulatory requirements on the risk side.
The bank also says that the solution provides clear and transparent audit trails and calculation, which help make data easily explainable to regulators.
Murex is an ISDA-certified vendor and MX.3 for FRTB is compliant with the ISDA Benchmark Unit Tests.
Murex’s experience helping clients navigate FRTB, along with its expertise, supports Odeabank in its own compliance journey.
Rudolf Lorfing, business development lead at Murex, adds: “A resilient core team and contributors led to our success in this project. We are honoured that Odeabank selected our solutions.
“Murex is ready to support other Turkish financial institutions aiming to adopt MX.3 for FRTB, as well as financial institutions elsewhere.”
Hüseyin Gönül, chief risk officer at Odeabank, says: “Through the implementation of MX.3 for FRTB we have optimised our technology infrastructure and are prepared for the regulation, as well as to gauge its impacts on our business.
“MX.3 for FRTB is adapted to our existing infrastructure and will help Odeabank meet all necessary obligations. It enables us to align with international standards, improve capital efficiency and operate with greater data integrity and transparency — key priorities as we continue to grow with strengthened infrastructure and a focus on sustainable value creation.”
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