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Jul 22 2011

A-Team Group - Sapient Plans 100 Strong Services Team to Support Partnership with Murex


Sapient Global Markets is planning to build a team of 100 Murex experts to support its partnership with the provider of cross asset risk management, trading and processing solutions. The partnership between Murex and Sapient Global Markets, the technology services provider to capital markets that is part of Sapient, was struck last autumn and Sapient has since been building expertise and knowledge around the Murex platform, with a view to becoming a dominant player in the Murex market.

The business already works with platforms from other trading and risk management software providers, such as OpenLink, Triple Point, Advent and Calypso, and will base its Murex development on a similar template.

Randall Orbon, vice president of Sapient Global Markets, explains: “We have had a lot of success around popular platforms with a global model that delivers technology elements such as integration and testing from our base in India, but also has local client relationships. Platforms like Murex tend to be surrounded by niche consultancies that don’t have the scale to wrap the platform into other areas of infrastructure. Murex is a natural for us and we have started to build a dominant footprint. Our aspiration is to be a key partner to Murex sometime next year. For Murex, our appeal is being able to deliver a lower cost of implementation and ongoing services, not just implementation.”

The company worked with Murex and its users before joining the partnership programme, but through the programme will offer an explicit focus on Murex. In return, it expects to win new business and gain early information on Murex’s plans to develop the platform. It will also collaborate with Murex on knowledge development around market issues such as the Dodd-Frank Act and Basel III.

Nasri Bejani, head of client services operations at Murex, explains: “Murex’s strategy is devoted to maintaining the highest level of market expertise and converting it into immediate business value for users of our solutions. Recent projects – powered by Mxpress solutions and accelerated implementation methodology – have proved the benefits of a strong collaborative framework that enables us to accompany our partners through successful deliveries with the level of demands and quality our clients are used to.”

As Sapient builds its Murex team, about 60% of the specialists, predominantly technologists such as programmers and software developers, will be based in India. “This is a hard model for competitors to replicate as they don’t have the people and specialists in India that we have and none have the focus that we have on both trading and India,” says Orbon, although Accenture, another partner listed on the Murex website, may choose to disagree.

The Sapient team being recruited to service Murex users is expected to reach about 100 by the end of the year, with members divided between India, North America and Europe. The company has not yet made inroads into Asia, but Orbon is planning a look-see trip next month. “I’m not sure when we will start business in Asia,” he says. “We intend to go global, but our first focus is to build a critical mass of business in Europe and North America.”

In terms of technology developments, Orbon expects to add a few more capital markets platforms to the company’s services portfolio in the short term, focusing on scale and growth over the ensuing year.

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