FIXED INCOME

Fixed income sales veteran Cooper-Foggarty joins Neptune

Neptune’s platform now has 21 liquidity providers and has already broken volume liquidity day in 2017.

By Hayley McDowell hayley.mcdowell@strategic-i.com January 25, 2017 9:52 AM GMT

Neptune Networks has poached a fixed income sales specialist Byron Cooper-Foggarty, as the firm moves forward with its US expansion plans.

Cooper-Foggarty will head up sales for Neptune Networks - a subsidiary of Neptune - focusing on developing client relationships and engaging with both its buy- and sell-side clients.

He joins Neptune from SIX Swiss Exchange, where he worked over the past year as head of fixed income electronic trading sales.

Prior to his time at SIX Swiss Exchange, Cooper-Foggarty worked at Thomson Reuters for over 10 years where he was head of fixed income e-commerce, leading its electronic trading solutions business for bonds and derivatives.

Neptune Networks provides a venue for dealers to share information with investors on bonds they are looking to buy or sell.

The company explained it has already seen growth in 2017 by signing two new dealers to its platform, brining the total number of liquidity providers on the platform to 21. Neptune could not disclose the details of the new dealers.

It also recently broke its previous record volume liquidity day in 2016 and twice in 2017, with over 18,000 IOI’s in the system in the second week of January.

Deutsche Bank and Citibank are expected to go live with Neptune in the first quarter this year, after agreeing to provide data to the network.

Chief executive officer at Neptune Networks, Grant Wilson, said at the time of the announcement, the addition of Citi and Deutsche Bank “is an important step to expand the reach and scope of the Neptune pre-trade data network.”