In a three-year programme, Capco supported the client in upgrading their Murex platform from MxG2000 to MX.3. 

The client, a regional state bank, had been using Murex MxG2000 for over 20 years. The bank was looking to renovate their trading platform to leverage the latest functionalities of MX.3. Capco, as the main integrator, helped the client not only to significantly reduce the complexity of their architecture, but also to upgrade to a cost-efficient, flexible and sustainable application. 

After the go-live, the bank decided to take further advantage of Capco’s knowledge around change-the-bank structures and have asked us to support the definition and implementation of processes, from business requirements analysis to technical deployment.


Given the long-term use of Murex MxG2000 and its ageing infrastructure, the bank decided to move to the new Murex MX.3. As part of their global strategy, this upgrade was the first step towards simplifying and consolidating the IT landscape across the different operational areas, as part of a multi-year programme. The implementation of new technology allows the bank to reduce time to market, increase performance and stability as well as leveraging the latest functionalities in a state-of-the-art technical setup.



Capco advised and supported the client throughout the entire cycle, from planning to the execution of go-live and beyond. This included:

  • Pre-study: Capco started the engagement by running a seven-month pre-study to define the project scope. The client’s installation was highly complex (with a large number of interfaces to satellite systems, two different reporting technologies running in parallel and a high number of intricated workarounds), whereas one of the main asks by the client was to simplify the platform, decommissioning many working parts. 
  • Implementation: The implementation part took 22 months, with Capco taking the lead in guiding the client through the different phases from design to building and, eventually, testing and transition. Based on Capco’s experience from former engagements, the project was set up using a hybrid model by applying an agile development framework embedded in an established waterfall model. Capco placed Consultants in key positions in all Murex-relevant areas such as Front-Office, Risk Controlling, Operations and Finance, and also provided strong development expertise and skills to the client’s IT department.
  • Go-live & hypercare: Together with the client and Murex as the software vendor, we took MX.3 live in the Spring 2022, using a ‘big bang’ approach followed by a hypercare and stabilization phase of eight weeks.

COVID-19 added an extra dimension of complexity, as the project was delivered almost entirely during the pandemic with a team of 50+ Capco consultants in a multi-location setup. 


By choosing Capco as implementation partner, the client achieved an upgrade of their main trading platform from MxG2000 to the most recent version of Murex - MX.3.

Capco helped the client deliver and accomplish:

  • Migration and redevelopment of 115+ interfaces
  • Implementation of 180+ end-user reports
  • Complete redesign and optimization of end-of-day processing
  • Setup of CI/CD framework and DevOps infrastructure including toolchain and nightly build 
  • Fully automated MXTest regression testing, covering front office and back office processes as well as reconciliation of downstream interface deliveries
  • Realtime portfolio monitoring and position management
  • New evaluation framework in-line with the latest market standards, including rate hedge curves and collateral discounting 
  • Centralized defect management and coordinated deployment processes
  • Decommissioning of complex workarounds and introduction of a high degree of standardized and automated processes. 

As a result, the client now benefits from an efficient, future-proof and market-focused platform with improved time to market for new functionalities and a high degree of technical automation.

For more information on How Capco implemented Murex MX.3 at a regional state bank, please contact our experts.