Fixed income connectivity initiative Neptune has announced it has integrated with Fidessa’s order management system (OMS) to provide users with great access to liquidity.
The connectivity means clients can use Fidessa’s OMS to issue pre-trade data to help with the search for liquidity and price discovery.
Neptune now has 17 dealers committed to its platform, referencing over 8,000 ISIN’s and over $60 billion of gross notional value.
Partner at Etrading Software, Grant Wilson, said Neptune will be connecting with more providers in the coming weeks and months, as it continues its expansion.
He said: “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…”
Sassan Danesh, also a Partner at Etrading Software explained Neptune uses FIX open standards for connectivity, data aggregation and workflow integration being leveraged by vendors to provide their clients with the high quality, market-wide, aggregated data that he believes the buy-side are demanding.
Chief executive officer at Fidessa buy-side, Paul Nokes, added: “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."