Upgrading from 2.11 to 3.1

I often see posts about migration from 2.11 to 3.1, how difficult it is, what are the real benefits. So I’d thought a quick post here to demystify it might be worth it.

First of all, Murex is the best source of truth (as usual) for the migration and the more time passes, the easier the migration itself is as more and more cases are documented.

2.11 is the previous version of the Murex software. It has reached its end of life and new features are not developed onto it anymore.  All customers are strongly encouraged to move to 3.1.

3.1 is the newest version developed by Murex. Its main advantages over 2.11:

– Better workflows and better consistency of these workflows across the board. There are 3 workflows during a transaction life: pretrade workflow (which gets triggered while pricing), booking sequence (triggered when the trade is being booked) and post trade workflow (triggered after the deal is booked)

– Different consolidation process and Livebook as a new functionality

– Stronger rate curves framework/functionalities

– More models for pricing or volatility interpolation

– Better user management

– Improved pricing structure build

– Loads of smaller changes and bug fixes

For a migration to keep as identical, the main efforts of the migration will reside around workflows and working with Murex and their predefined templates. This is a great opportunity to revise the workflows but also a significant amount of work.

The trades then needs to be reconciled as 2.11 can sometimes return an incorrect valuation for specific trades  (I’m looking at you Buy/Sellbacks).

End of day will need to be revised, reports (extracts) can work from 2.11 but you might want to move them to datamart at some stage.

All in all, it is a migration but which is very streamlined and for which most issues have already been handled by Murex previously. If you have a pure front office implementation of Murex, the migration will be much quicker than if you have processing workflows involved.

More questions? Forum or comments below!