Neptune Embeds Symphony Chat Functionality
Neptune Networks Ltd, the Fixed Income network for real-time “axe” indications, today announced that it has embedded Symphony chat functionality within the Neptune proprietary application.
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. The integration of Symphony’s collaboration platform will allow buy-side customers of both firms to communicate with their sell-side counterparts regarding the specific bonds axes they located on Neptune.
Twenty-five bond dealers are part of the Neptune sell-side participants, whilst there are over 50 buy-side firms with approximately $17trn in AUM. The platform now provides information in real-time with over 40,000 axes/inventory line items and over $170 billion in daily gross notional across 20 different denominations.
“Neptune integrating Symphony for chat is another positive step in adding more value to clients from both sides of the market. The ability for buy-side clients to seamlessly contact their counterparts as part of the Neptune workflow, similar to existing desktop solutions, is something both Investor and Bank partners have asked for. Symphony is also a perfect partner for us, given similar philosophy to enhancing market structure for the benefit of the main participants,” said Grant Wilson, CEO of Neptune Networks Ltd.
“We are excited to add Neptune to our growing network of partners,” said Jonathan Williams, Global Head of Partners, Symphony. “Our mutual customers will benefit from streamlined workflow via access to the Symphony community within the Neptune application.”
Neptune Networks Ltd is a market structure 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. Their 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).
Source: Neptune Networks
Source code of the smart contracts is publicly available on Github.
The regulator found issues with data completeness and quality.
MiFID II has increased interest in updating fixed income technology.
Volume of listed corporate bonds reached a record.
Fixed income traders need more transparency.