Financial Software company Murex to establish subsidiary office in Cyprus

According to the Cyprus Mail, Murex, the global leader in trading, risk management, and processing solutions for capital markets, will establish a subsidiary office in Cyprus. This follows an international campaign by the Cyprus Investment Promotion Agency to relocate businesses to Cyprus.

Nicosia, Cyprus: 19 April 2021

Established in 1986, Murex has developed a portfolio of technology that supports growth and innovation in capital markets. It has devoted more than 30 years to the design, implementation, and evolution of integrated trading, risk management, processing, and post-trade solutions. This led to MX.3, the third-generation trading platform.

Today, MX.3 has a proven track record in supporting all types of clients, from global money centers to local banks, from large asset managers to medium-sized hedge funds, and from large corporations to energy utilities. More than 50,000 users around the globe rely every day on the MX.3 platform for their trading, hedging, funding, risk management or processing operations.

Currently, Murex is among the top 10 software producers in Europe.

The Cyprus Mail writes that Murex plans to relocate more than 100 workers to Cyprus.

George Campanellas, Chief Executive of Invest Cyprus, said:

“Murex’s decision to open a satellite office in Cyprus is a vote of confidence for the country’s potential. Cyprus offers enormous opportunities to international ICT companies to establish operations, scale-up and flourish. Invest Cyprus in close cooperation with the Cyprus Tech Association, supports the further development of the sector, working in line with the relevant Ministries to reshape the FDI framework and make ICT companies and their people feel at home.”

According to the Cyprus Mail, Murex selected Nicosia as a satellite of its Beirut office, the centre of the MEA region, and an innovation site for Murex.

It is planned that the Murex office in Nicosia will open in July 2021.

Navigator Consulting provides Investment Advisory, Strategic Management and support for companies in Cyprus, Greece and internationally.

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Sources:

French financial software giant Murex chooses Nicosia for new location

CyprusMail. 19 April 2021

Murex Adds Physical Presence in Cyprus

Murex. 15 April 2021

Fitch Ratings affirms Cyprus at Outlook Stable