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Neptune integrates into Fidessa's buy-side OMS platform

First Published 26th May 2016

Neptune's open standard utility is now connected to its first OMS provider to offer buy-side access to liquidity.

London - Neptune, the open standards network utility for pre-trade indications in bond markets, has completed connectivity to Fidessa's buy-side OMS platform to distribute pre-trade data to assist the buy-side with liquidity and price discovery utilising their existing workflows.

With 17 dealers committed to the platform and over $60bn of gross notional and twelve thousand line items, referencing over 8 thousand ISIN's across IG/HY/EM and Covered bonds and 20 CCY's, Neptune is fast expanding from its initial focus of purely European IG/HY corporate bonds, to a portfolio which also reflects the global nature and reach of its user base.

Paul Nokes, CEO, Fidessa Buy-side, commented: "With the markets undergoing fundamental change, initiatives like Neptune that help buy-sides discover liquidity and price information for fixed income instruments are a big step forward in enabling investment managers to access these markets. The industry still has a long way to go, though, and the next challenge to solve is a consolidated feed of the 90 or so fragmented pricing mechanisms that exist."

"Extending the market information offered through our Minerva OMS to include the Neptune network is just one of the many steps Fidessa has taken to enable our customers to trade the corporate bond markets efficiently," concluded Nokes.

The Neptune network helps asset managers connect to the sell-side via any combination of the Neptune GUI, their own in-house developed OMS or an external OMS provider such as Fidessa. The connectivity options mean they can receive pre-trade indications from multiple banks in real time through a single connection that can be integrated into their own in-house workflows.

Grant Wilson, Partner, Etrading Software, said: "We are pleased to have our first external OMS connected to Neptune and we look forward to partnering with further providers in the coming weeks and months as we continue to expand access to the platform. Enhancing the flow of electronic pre-trade information has been a focus of market participants for many years. For Neptune to have achieved this in a relatively short period of time is testament both to our core principles of standardisation and also to the tremendous support we have had from banks and asset managers who have collaborated closely with us and each other, in order to create an open standard, technology-based, non-profit utility."