Neptune, the fixed income network for real-time “axe” indications, is enhancing its integration with partner TS’s TradeSmart FI.
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.
Grant Wilson, CEO, Neptune Networks, says: “Connectivity to an EMS such as TradeSmart FI is precisely what our buy-side clients are seeking from Neptune. It provides the ability to consume an aggregated feed of the highest quality bond axes, which in turn allows them to be more targeted in their enquiries for large size bond execution. As the EMS becomes a more important part of fixed income, we are well placed to serve our clients with minimal disruption to their workflow.”
Nineteen bond dealers are already live on the network, providing axe information in real-time on over 14,500 different securities with over USD131 billion in gross notional across 20 different denominations. This is generated from over 26,500 pre-trade real-time “axe” indications in the network, daily. This strong growth is expected to continue with the 20th and 21st global banks due to go live in mid-Q2, 2017.
Paul Reynolds, fixed income product manager at TS, adds: “With this new connectivity to Neptune networks, TradeSmart FI now offers buy-side traders even wider access to a universe of high quality dealer axe liquidity. The integration of Neptune into TradeSmart FI further reduces the buy-side cost and complexity of bank connectivity.
“Adding Neptune bank axe data to TradeSmart FI significantly enhances the buy-side best selection and best execution workflow in the TradeSmart FI user interface. Similarly, pre-trade transparency checks and post-trade transaction cost analyses are further enriched.”
