Grant Wilson, Neptune
London - Neptune, the Fixed Income network for real-time "axe" indications, has announced the addition of MUFG 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 bond axes/inventory data from their Bank counterparts. This can help institutional investors to execute large size orders in products such as corporate and emerging market bonds.
Twenty-one bond dealers are currently 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. The 22nd bank is 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.