Fixed income data provider Neptune has secured funding from its existing shareholders which includes major investment banks.
Neptune said that with NatWest Markets, 29 dealers have now signed up to provide axe indications to investors via its network.
Data for the global bond market composite has been sourced from a combination of axe/inventory positions and two-way streams.
Neptune has 17 bond dealers live on its platform, with four more expected to go live in the first quarter this year.
Neptune’s platform now has 21 liquidity providers and has already broken volume liquidity day in 2017.
Citi and Deutsche Bank have agreed to provide data to bond network and will join the board alongside JP Morgan and Goldman Sachs.
Major banks join Neptune’s new board as initiative hunts for permanent chief executive officer.