Citi and Deutsche back Neptune bond network


Neptune said in a November 10 statement that signing up the investment banks was an important step for the network, which aims to make it easier for investors to execute transactions by allowing dealers to share information on the bonds they wish to buy and sell.

Neptune CEO Grant Wilson said: “Adding two market leaders such as Citi and Deutsche Bank to the already strong Neptune board, comprised of sellside and buyside, is an important step to expand the reach and scope of the Neptune pre-trade data network both locally, in Emea, and more broadly in other key regions such as the US and Asia.”

Citi and Deutsche will soon begin providing their data through the network, which is the result of collaboration between banks, asset managers and technology consultancy ETrading Software.

The bond dealers already connected to the not-for-profit technology utility provide real-time information on more than 11,500 different bond securities with over $ 100 billion in gross notional value.

Neptune is one of the market initiatives looking to boost liquidity in corporate bond markets. Liquidity has suffered as regulations since the financial crisis have resulted in less willingness among investment banks to act as market makers in the bond markets.

Earlier this month Neptune released a new tool enabling speedy access to the network for new clients. It allows users to focus solely on their instruments of interest

Neptune also said it is focused on allowing asset managers to use their preferred method of visualising the pre-trade data to attract more members.

Citi and Deutsche Bank join 17 other dealers already connected to the network. They are: Banco Bilbao Vizcaya Argentaria, Banco Santander, Barclays Bank, BNP Paribas, Commerzban, Credit Agricole, Credit Suisse, Goldman Sachs, HSBC Bank, ING Bank, JP Morgan, Mizuho International, Morgan Stanley, RBC Capital Markets, Societe Generale, UniCredit, UBS.

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