On January 23, an important milestone has been achieved for the Murex (treasury management system) project as the counterparties involved have formally signed a preliminary agreement, laying the foundation for the system’s implementation. The project sees the participation of six of Georgia's leading commercial banks (Bank of Georgia, TBC Bank, Basisbank, Terabank, Cartu Bank, Liberty Bank) , aiming to leverage its innovative functionalities for better treasury management.

The Murex system will bring significant advancements to the Georgian banks, by providing advanced capabilities such as real-time risk analysis, optimized trading strategies, and more efficient treasury operations. With this system in place, Georgian banks will benefit from streamlined processes, improved compliance with international standards, and make more informed financial decisions. As a result, Georgian banks will be better equipped to manage risks, optimize their trading activities, and enhance overall operational efficiency.

The hosting infrastructure required for the deployment of the system will be provided by The National Bank of Georgia (NBG), ensuring a stable, secure, and reliable environment for the system’s operation. In addition, NBG will extend its technical expertise to the project, providing necessary resources, guidance, and support for system setup, configuration, troubleshooting, and ongoing maintenance. This collaboration will ensure that the Murex system integrates seamlessly while meeting the required performance and security standards.

The Georgian Financial Markets Treasuries Association (GFMTA) will coordinate the successful implementation of the Murex project, ensuring smooth collaboration among participants and alignment with the strategic objectives of the project. GFMTA will facilitate stakeholder communication and oversee capacity-building efforts to ensure the system's successful adoption.

The legal framework of the Murex project will be managed by DLA Piper, a globally renowned law firm, overseeing all contractual arrangements and ensuring compliance with applicable laws and regulations throughout the project’s lifecycle.

The next phase of the project will involve adapting and fine-tuning the Murex system to align with the operational needs of participating banks. To guarantee the system’s readiness for full deployment, pilot testing will be conducted.

By strengthening operational efficiency and fostering competitiveness within the Georgian banking sector, the Murex system is expected to significantly enhance the stability of Georgia's financial markets. This modernization will further boost investor confidence and support long-term economic growth, helping position Georgia as a more competitive player in the global market.

MX.3 is used by 65/100 top international banks. More than 57,000 users use the platform daily. Murex partners with over 300 clients, including global banks, market makers, leading multi-regional banks, regional and national banks.