Neptune, the Fixed Income network for real-time “axe” indications, today announced the addition ofMUFG to its network. MUFG becomes the 25th participating bank on the network and the 3rd to join in as many weeks.
The Neptune network provides a venue for investors to consume the highest quality bond axes/inventory data from their most trusted Bank counterparts. This enables institutional investors to be more effective and targeted when looking to execute large size orders in products such as corporate and emerging market bonds.
Twenty-one bond dealers are already live on the network, providing axe information in real-time on over 30,000 different securities with over $140 billion in gross notional across 20 different denominations, including $50 billion is US liquidity. This is generated from over 30,000 pre-trade real-time “axe” indications in the network, daily. This strong growth is expected to continue with the 22nd bank due to go live later in August and with 3 further banks to join after that the $200 billion / 40,000 real-time pre-trade ‘axe’ indications level is months away.
“MUFG joining Neptune is a continued affirmation of the model and the platform as a whole in this ever-changing regulatory environment. MUFG is important to the Users of Neptune in their areas of the market and will further satisfy buy-side client demand for the highest-quality data in the bond market to satisfy pre and post-trade needs including managing liquidity risk in response to SEC rule 22e-4,” said Grant Wilson, CEO of Neptune Networks Ltd.
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Neptune Networks Ltd is a data network which was incorporated in July 2016 with a mission to deliver the most accurate, timely data, which both informs and connects the bond market. Our vision is to become the destination for all bond market stakeholders, where reliable, relevant insight enables meaningful, transactional relationships between banks and investors.
Neptune focuses on delivery of real-time axe data from the sell-side to the buy-side via their order management systems (OMS) and execution management systems (EMS).