Scotia Capital Goes Live With Murex MX3 for Base Metals Trading

NEW YORK, May 30, 2011 /PRNewswire/ --

Scotia Capital, the wholesale banking arm of Scotiabank, has successfully expanded its commodities business with the implementation of the Murex MX.3 system for its base metals trading.

"We are thrilled to have met Scotiabank's time to market challenge for rolling out an integrated solution for base metals trading for listed and over-the-counter derivatives," said Antoine Mourad, President of Murex North America.

MX.3 provides an end-to-end solution, addressing front and middle office functions, with the ability to generate confirmations, statements, settlements, accounting and collateral management.

"We are very happy with the partnership and support that we have received from Murex," said Barry Wainstein, Vice-Chairman and Deputy Head, Global Capital Markets and Global Head, Foreign Exchange and Precious Metals, Scotia Capital. "This implementation will allow us to enhance our product offering and meet the demands of our growing client base."

Scotia Capital is the global corporate and investment banking and capital markets division of the Scotiabank Group. We help corporate, institutional and government clients in Canada and around the globe seize opportunities, unlock value, and achieve their financial goals. Scotia Capital has 29 offices and more than 300 relationship managers organized around industry specialties. For more information, please visit http://www.scotiacapital.com.

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve some 18.6 million customers in more than 50 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $541 billion (as at January 31, 2011), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit http://www.scotiabank.com.

Building on over 25 years of successful presence in capital markets, Murex has developed an unmatched competence in the design and implementation of integrated trading, risk management and processing solutions for top financial institutions, clearing houses, corporations and utilities located across the globe. Our 200 clients range from leading market makers to large-sized or medium-sized buy-side and sell-side institutions. Over 36,000 users rely on MX.3(TM), the latest Murex platform, and on our strong market knowledge to support their businesses and keep pace with new practices induced by market evolution and regulatory changes. Implementations powered by the MXpress(TM) approach leverage the wealth of business content accumulated by Murex over the two decades through pre-packaged components of the platform while offering an accelerated process of delivery.

About Murex

Building on over 25 years of successful presence in capital markets, Murex has developed an unmatched competence in the design and implementation of integrated trading, risk management and processing solutions for top financial institutions, clearing houses, corporations and utilities located across the globe. Our 200 clients range from leading market makers to large-sized or medium-sized buy-side and sell-side institutions. Over 36,000 users rely on MX.3(TM), the latest Murex platform, and on our strong market knowledge to support their businesses and keep pace with new practices induced by market evolution and regulatory changes. Implementations powered by the MXpress(TM) approach leverage the wealth of business content accumulated by Murex over the two decades through pre-packaged components of the platform while offering an accelerated process of delivery.

For more information, contact Mireille Adebiyi, Murex Group - Marketing and Communications Manager, at Mireille.adebiyi@murex.com.