Citi and Deutsche Bank Join Neptune to Simplify Bond Transactions

The addition of the banks is a key step in expanding the reach of the network across EMEA, US and

Neptune, an open standards network utility for the fixed income market, announced today that it has added Citi and Deutsche Bank to its expanding network.

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Pool of Bond Dealers

The Neptune network, which launched earlier this year, provides a venue for dealers to share information with investors on the bonds that they are looking to buy and sell, making it easier for investors to execute bond transactions.

A total of 17 bond dealers are already connected to the network which provides information in real-time on over 11,500 different bond securities with over $100 billion in gross notional across 20 different denominations, including $30 billion is US liquidity. This is generated from over 17,000 pre trade real-time AXE indications in the system on a daily basis.

Grant Wilson, CEO of Neptune Networks commented, “The addition of Citi and Deutsche Bank, both market leaders in bonds, to the Neptune network, is an important step forward in the development of our open-access, non-discriminatory network that links bond market participants and makes the markets more efficient”.

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Stakes

Citi and Deutsche Bank are both taking stakes in Neptune, and joining the Neptune Board and are both due to start providing their data to the network shortly.

Wilson added, “Adding two market leaders such as Citi and Deutsche Bank to the already strong Neptune board, comprised of Sell-side and Buy-side, is an important step to expand the reach and scope of the Neptune pre-trade data network both locally, in EMEA, and more broadly in other key regions such as the US and Asia”.

Neptune is a not-for-profit technology utility that was set up in 2015 to increase and improve the quality of information available to corporate bond market participants, and thereby strengthen liquidity. The data is provided to the network using an open standard which means it is cheap for users to connect to the network, and the data is easy to integrate with order management systems.

New Functionality

Neptune also released new Watch List functionality to the in-house Neptune desktop earlier this month. The desktop provides the quickest route to new clients for access to the network. The Watch List allows users to focus solely on their instruments of interest, accelerating identification and matching of sources for their required assets.

Neptune remains focused on enabling asset managers to use their preferred method of visualizing the pre-trade data including in-house OMS, third-party OMS vendors or a direct FIX connection as it continues to build its membership of the network.

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