Murex, which provides trading, Risk Management and processing solutions for capital markets, announced on Thursday the opening of a new office in Cyprus.
The new physical presence came as the company is strengthening its regional footprint in the EMEA region. The office will work as a satellite location to Murex’s Beirut office, which is the company’s center for the Middle East-Africa region and also an essential innovation site.
The office in Nicosia will start operations in July 2021 and will receive support for the Beirut location for initial setup.
A Key Location for Regional Dominance
The company elaborated that Cyprus has been selected after considering several other options for a potential regional office for the company. “Murex is confident that the office in Nicosia will further consolidate its capacity to deliver on its commitments to Murex clients in the long run,” the announcement detailed.
Cyprus will be one of many physical locations of Murex but will be very crucial for its regional expansion. Established in Paris in 1986, the company primarily operates from its four regional offices - Paris, Beirut, New York and Singapore - and also has an additional 13 satellite offices across the world.
Murex’s offerings include a wide range of services for capital market players. Its enterprise solutions cover Buy-Side integrations to cloud and connectivity technologies, and of course, its core risk management systems. The company is closing deals with major players, expanding its footprint within the industry.
Most recently, Murex partnered with PZU Group as a critical technology partner. Additionally, the company integrated the solutions of DDCAP to streamline booking and processing of Sharia-compliant transactions by financial institutions.
