Rabobank And TD Securities Join Neptune
Neptune, the Fixed Income network for real-time “axe” indications, today announced the addition of Rabobank (“Rabo”) and TD Securities “TD” to its network and board. Rabo and TD become the 23rd and 24th participating banks on the network.
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.
“Rabo and TD joining Neptune is an indication of the maturity of the platform. Both banks are important counterparties 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.
NEX says investors have yet to see the real opportunities in transparency and efficiency.
The exchange can provide APA and ARM services.
Incoming regulations will require more data to evidence best execution.
MiFID II requires enhanced visibility over dark and lit liquidity.
The regulator wants to integrate data from multiple repositories and remove duplicates.