Neptune has integrated TradingScreen’s (TS) execution management system (EMS) to allow buy-side clients to consume its feed of bond axes.
TS’s TradeSmart FI EMS is connected to more than two million corporate, financial and government bonds and provides users with a display of RFQs, IOIs, trades, axes and prices.
Grant Wilson, CEO at Neptune, explained connecting to TradeSmart FI is precisely what buy-siders using the bond axes network are seeking.
“It provides the ability to consume an aggregated feed of the highest quality bond axes, which in turn allows them to be more targeted in their enquiries for large size bond execution,” he said.
Paul Reynolds, fixed income product manager at TS, added the connectivity with Neptune further reduces the buy-side cost and complexity of bank connectivity.
There are currently 19 bond dealers live on the Neptune network and providing real-time axe data on over 14,500 securities.
Most recently, Bank of America Merrill Lynch signed up to go live on the network and will join other institutions like Citi, Deutsche Bank, Jefferies and Nomura.
Earlier this year, Neptune also connected to FlexTrade’s EMS to distribute pre-trade data for liquidity and price discovery.
Neptune allows buy-side firms to connect to the sell-side via a combination of Neptune itself, proprietary OMS/EMS or OMS/EMS providers like FlexTrade and TS.