Neptune Sees Production Pilot Go Live, Grants Pre-Trade Indication Utility

Asset managers will be able to connect directly to Neptune’s pilot production network through a GUI, its own in-house developed

Banks involved in the Neptune Collaboration have been granted a new utility in the form of pre-trade indications, which are now eligible to be sent to clients across the group’s pilot production network, according to a Neptune statement.

Neptune is a not-for-profit utility that is utilized and backed by a cascade of global financial institutions, including Goldman Sachs, Morgan Stanley and State Street Global Advisors, among many others. Neptune was formulated by Etrading Software and is an amalgamation of banks and asset managers whose roots can be traced back to 2014.

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Overall, the collaboration has been one of the most cohesive attempts to date in overcoming acute fears of a liquidity dearth in fixed income markets, whilst fostering increased market transparency.

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As a result of the new capability, participating asset managers will be able to connect directly to Neptune’s pilot production network through a GUI, its own in-house developed OMS, or an external OMS provider. Boasting a single comprehensive connection, clients will be able to receive a full arsenal of pre-trade indications from contributing banks.

The new capabilities are also amongst the first wave of newly revamped solutions for clients and users now that Neptune’s Production Pilot is fully operational. The group is aiming to transition onto a fully oriented production environment, which is slated to include connectivity to additional OMSs during H2 2015 and beyond.

Sassan Danesh
Sassan Danesh, Partner, Etrading

According to Sassan Danesh, Partner at Etrading, in a recent statement on Neptune’s outlook, “The future view of Neptune is to look at areas where the industry can commoditise and standardise but our core focus is to get it live and get other asset classes on it.”

“We are pleased that the implementation phase is moving along successfully and the exchange of pre-trade indications between the Neptune participants has started. This success is due to the tremendous support from banks and asset managers for the core principles of Project Neptune – to collaborate together to create an open standard, technology-based, non-profit utility that is execution venue agnostic,” added Grant Wilson, Partner, Etrading Software, in an accompanying statement.

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