Neptune – FI Composite FI

Neptune – Fixed Income Composite pricing

Neptune is a data connectivity network, supplying the highest quality pre-trade bond data (axes and inventory) from the Sell-Side to the Buy-Side via FIX workflows. Neptune’s technology enables real-time connectivity between banks and investors, which leads to meaningful conversations, satisfying the immediate requirements of each party and ultimately, increasing trade volumes. 

Data products currently in development include: USD, EUR and GBP HY and IG tradable Corporate bond universe, along with EUR and GBP rates.


Real-time pricing feed showing the composite pre-trade pricing activity across liquid bonds. It will have rules that state that there needs a minimum of 3 dealers providing prices on a given bond. The composite will apply smoothing methodology to weight new inputs based on their proximity to previous inputs. Benchmark spreads are not included in the calculations but are targeted for 2023.

Neptune is the only provider that can use Dealer Axe data in composite pricing.

Our data purchase process

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