enterprise platforms · banking and capital markets
The MX.3 upgrade depends on a datamart nobody documented and a three-week regression pack.
Trading and core banking platforms run the books, and they change slowly for good reason. We upgrade Murex MX.3, Calypso and Temenos Transact estates and rebuild the integrations and reports around them. We also automate regression testing and staff the specialists these platforms need.
Banking and capital markets platforms are the systems banks use for trading, risk and core banking.
Murex MX.3 and Calypso cover front-to-back trading, while Temenos Transact and Infinity cover core and digital banking. Cohash upgrades these platforms and builds their integrations with market data, payments and finance. We automate regression testing and manage environments. We also place certified specialists on contract, contract-to-hire or permanent terms.
you probably need this if
The MX.3 version you run is approaching the end of vendor support, and nobody has scoped the upgrade.
Regression testing for each release takes weeks of manual trade-by-trade checks.
Datamart reports feed your regulatory returns, and nobody can tell you which of them will change in the next version.
From the first call to a setup your own team can run.
Here's what usually prompts a call about your Banking & Capital Markets Platforms, what we do about it and in which order, and where you end up.
01 · where it hurts02 · what we change03 · how it runs04 · where you end up
incident board · banking & capital markets…3 open
openThe MX.3 version you run is approaching the end of vendor support, and nobody has scoped the upgrade.
recurringRegression testing for each release takes weeks of manual trade-by-trade checks.
blockedDatamart reports feed your regulatory returns, and nobody can tell you which of them will change in the next version.
exposure
Murex MX.3 upgrades and supportCalypso upgrades and integrationsTemenos Transact and InfinityRegression test automationIntegration with the rest of the…Specialist staffing
CAL
startrehearsehandover
Estate review
Upgrade plan
Test and rehearse
Go live and support
we are here
ready to hand over
Analysts look only at breaks with an explanation attached, not every trade.
Fewer local developments go into the upgrade, and every one has an owner.
Estate inventory of customizations, interfaces and reports
Version change impact analysis against your configuration
chapter 01 · where it hurts
Why teams reach out
The MX.3 version you run is approaching the end of vendor support, and nobody has scoped the upgrade.
Regression testing for each release takes weeks of manual trade-by-trade checks.
Datamart reports feed your regulatory returns, and nobody can tell you which of them will change in the next version.
chapter 02 · what we change
How we solve it
Murex MX.3 upgrades and support
Calypso upgrades and integrations
Temenos Transact and Infinity
Regression test automation
Integration with the rest of the bank
Specialist staffing
chapter 03 · how it runs
Our approach
Estate review
Upgrade plan
Test and rehearse
Go live and support
chapter 04 · where you end up
What changes
Analysts look only at breaks with an explanation attached, not every trade.
Fewer local developments go into the upgrade, and every one has an owner.
Estate inventory of customizations, interfaces and reports
Version change impact analysis against your configuration
what we do
Where we spend the hours
6 areas of work, each one done by an engineer who has run it in production.
Version upgrades, datamart and reporting changes, trade workflow and static data setup, and environment refreshes. The first job is working out which of your customizations and reports actually change in the target version.
Our Calypso work covers upgrades, trade capture and confirmation flows, risk and accounting interfaces, and engine configuration. Nasdaq owns Calypso now, through its acquisition of Adenza. We review roadmap and support terms during planning for that reason.
Core banking configuration and local developments in Temenos Transact, which used to be called T24. We also work on digital banking in Temenos Infinity and the integration between the two.
Manual checks of an upgrade regression run take weeks. We automate the comparison of trades, valuations, cash flows and accounting entries between current and target versions, and it takes days.
Market data, payments, general ledger, regulatory reporting and data platforms, through message queues and APIs with reconciliations at each boundary.
Murex and Calypso functional and technical consultants, datamart developers, environment managers and Temenos developers, onsite, nearshore or offshore.
capability 01 / 06in production
CAL
Murex MX.3 upgrades and support
Version upgrades, datamart and reporting changes, trade workflow and static data setup, and environment refreshes. The first job is working out which of your customizations and reports actually change in the target version.
Our Calypso work covers upgrades, trade capture and confirmation flows, risk and accounting interfaces, and engine configuration. Nasdaq owns Calypso now, through its acquisition of Adenza. We review roadmap and support terms during planning for that reason.
Core banking configuration and local developments in Temenos Transact, which used to be called T24. We also work on digital banking in Temenos Infinity and the integration between the two.
Manual checks of an upgrade regression run take weeks. We automate the comparison of trades, valuations, cash flows and accounting entries between current and target versions, and it takes days.
Murex and Calypso functional and technical consultants, datamart developers, environment managers and Temenos developers, onsite, nearshore or offshore.
We pieced these together from Banking & Capital Markets Platforms situations that come up a lot. They're patterns. You won't find a specific client in them.
case file 01
MX.3 upgrade where regression means three weeks of spreadsheet checks
composite · not a client story
Beforethe situation
In every Murex upgrade test cycle, analysts export trades and valuations from both versions and compare them in spreadsheets. Just two cycles eat up most of the upgrade window.
What we dothe work
Build an automated comparison of trade attributes, valuations, cash flows and accounting entries between versions, with tolerances agreed with risk. Run it on a full copy of the book, then review only the breaks.
Afterwhere you end up
Analysts look only at breaks with an explanation attached, not every trade. More test cycles fit in the window. The comparison pack gets reused next upgrade.
case file 02
Temenos Transact with local developments blocking an upgrade
composite · not a client story
Beforethe situation
A bank's Transact install carries years' worth of local developments. The upgrade assessment flags a large share as incompatible, and nobody in the business can say which ones are still in use.
What we dothe work
Trace every local development to the transactions and reports that use it. If nothing uses it, retire it. Map the rest to base functionality in the target release where it exists.
Afterwhere you end up
Fewer local developments go into the upgrade, and every one has an owner. Code you retired is code you don't have to test.
How trading and core banking platforms connect across a bank
Front office books trades in Murex or Calypso, which take market data and send confirmations, settlements and accounting entries downstream. Temenos Transact holds customer accounts and payments, and both feed the data platform used for risk and regulatory reporting.
Digital channelsTemenos Infinity → Temenos Transact · customer requests
02 · Trading and core
Murex MX.3trading · risk · ops → Settlement and payments · confirmations→ General ledger · accounting→ Data platform · datamart extracts
CAL
Calypsotrade capture · collateral
Temenos Transactaccounts · payments → Settlement and payments · payments→ Data platform · account data
03 · Downstream
Settlement and paymentsconfirmations · SWIFT
General ledgeraccounting entries
04 · Data and reporting
Data platformrisk · regulatory returns → Reconciliations · compare
Reconciliationspositions · cash
Read the diagram as text
Market data → Murex MX.3: market data
Front office → Murex MX.3: trades
Front office → Calypso: trades
Digital channels → Temenos Transact: customer requests
Murex MX.3 → Settlement and payments: confirmations
Murex MX.3 → General ledger: accounting
Temenos Transact → Settlement and payments: payments
Murex MX.3 → Data platform: datamart extracts
Temenos Transact → Data platform: account data
Data platform → Reconciliations: compare
how it runs
A typical engagement
We don't start a step until the last one has produced something you can check.
step 01
Estate review
Version, customizations, interfaces, reports, environments and the current regression process, documented with the platform owners.
step 02
Upgrade plan
Changes between versions mapped to your configuration, with the test approach, environment plan and cutover options agreed with front office, risk and finance.
step 03
Test and rehearse
We run automated comparisons between versions on production-like data, and the business signs off on the expected differences.
step 04
Go live and support
Cutover over a weekend or a period close, followed by hypercare and handover of runbooks and test packs.
you keep
What you're left with
We write these for your Banking & Capital Markets Platforms setup, and they're working documents. Your team should be able to keep things running from them long after we've gone.
inventory01
Estate inventory of customizations, interfaces and reports
yours to keep
report02
Version change impact analysis against your configuration
yours to keep
tests03
Automated regression pack comparing trades, valuations and accounting
yours to keep
plan04
Environment plan with refresh and data masking procedures
talent and delivery · banking & capital markets platforms
Certified engineers, wherever you need them.
Some clients want a project team, some want a couple of engineers on theirs. Either works. Onsite, nearshore or offshore, with handovers across time zones that keep things moving.
Onsite
Engineers at your sites in the US
Nearshore
Overlapping hours with US teams
Offshore
Overnight progress on your backlog
All time zones
Coverage handed over across time zones
24-hour coverage · US Central time
OnsiteUS business hours
Nearshoreoverlapping US hours
Offshoreovernight progress
Combinedhandover, not hand-off
00:0006:0012:0018:0000:00
roles we staff
Murex MX.3 functional consultant
Murex datamart developer
Calypso technical consultant
Temenos Transact developer
Trading platform environment manager
Capital markets test automation engineer
due diligence · banking & capital markets platforms
Questions to ask any partner, including us.
Put these to anyone bidding on your Banking & Capital Markets Platforms work. The ones who've done it answer differently from the ones who've read about it.
Q1
How will you automate regression testing between our current and target versions?
Manual regression is often the longest and least reliable part of a trading platform upgrade. Ask what gets compared automatically and at what tolerance.
Q2
The target version changes some datamart reports. Which of ours, and how will you find out?
Datamart extracts feed risk and regulatory reporting. A partner should have a way to trace each report to the version changes early, instead of discovering problems in testing at the end.
Q3
How do you manage and mask environments for testing?
Trading environments are expensive and the data is sensitive. Get refresh and masking wrong and you hit timeline and compliance problems at once.
Q4
What is your plan for Calypso support and roadmap under Nasdaq?
Ownership changes can shift support terms and product direction. The upgrade plan should account for the vendor's current roadmap.
Q5
Who holds the functional knowledge, and who holds the technical side?
Murex and Calypso work needs both functional consultants who know the business flows and technical staff who know the engines and datamart. Ask who covers each.
01How long does a Murex or Calypso upgrade take?
That depends on the version gap, how much is custom and how long regression takes. Manual regression usually eats the most time, so test automation is the first thing we look at.
02What drives upgrade cost?
Custom reports and datamart extractions, how many interfaces you have, whether environments are available and how much business testing is needed. Banks that already have automated regression packs tend to get through upgrades with less disruption.
03Has Calypso's ownership changed?
Yes. Nasdaq completed its acquisition of Adenza, the owner of Calypso and AxiomSL, on 1 November 2023. Check your support contract and roadmap commitments with Nasdaq as part of any upgrade plan.
04Do you work on core banking as well as trading?
Yes. On core banking we work on Temenos Transact, and on digital banking, Temenos Infinity. That's alongside our Murex and Calypso work for trading and risk.
05Can you provide Murex or Calypso specialists without a full project?
Yes. Our staffing practice places certified functional and technical specialists, on contract, contract-to-hire or permanent terms.
06Can offshore engineers work on our trading platform?
Often for development and testing on masked data, depending on your regulators and internal policy. Production support and access to client data usually need tighter controls. We set those boundaries with your compliance team first.
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