Neptune – Overview

Neptune – Connected Insight

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.

Our 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.

At a glance:

  • Real-time: Real-time, structured and standardised connectivity means reduction of “noise” and inaccurate data
  • Ease of Connectivity: The use of FIX allows for ease of connectivity via API, OMS/EMS or via our own GUI
  • Governance: Ability to participate in Neptune’s governance and future evolution via the Buy-Side Advisory Group and Buy-Side Board representation
  • Enhance Relationships: We exist only to enhance Buy-Side and Sell-Side relationships by making enquiries and trading more targeted, reducing information leakage and allowing for more precise best execution
  • Highest Quality: Highest quality, pre-trade bond data available via one-connection, from the leading Sell-Side market makers in fixed income
  • Team:; Highly experienced team behind Neptune, based in Europe and the U.S., with backgrounds on the Buy-Side, Sell-Side, IDBs, data/eTrading vendors and technology

Neptune data coverage:

Composite:

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.

Liquidity Scores: 

Ranking of bonds by relative liquidity over recent history, scoring them from 1-10 across a variety of attributes. Bid and offer values will be available separately, and scoring will be market-specific (IG, HY, etc.).

Sentiment Analysis:

Using the axe data on a bond as a proxy for dealer’s interest, Neptune is developing a measure of sentiment aggregated at the issuer/sector/duration level. Naturally forward looking in contrast to LS, which is historical.

Why take Neptune data?

  • Highest quality data from 28 of the leading fixed income dealers
  • Actionable data including axe data
  • Data sourced from highly liquid market participants
  • Suitable for both pre and post trade analytics
  • Based on the highest market share and underlying liquidity 
  • Reliable, proven data
  • Low-cost market data packages designed to facilitate participants access to pricing data across their workflow
Use cases
Front office users:Trading, pricing engines, pre-trade analysis. Buy and Sell side, all sizes where trading in fixed income markets.
Middle and back office:Risk management, end of day settlement, mark to market, evaluated pricing and valuations, pricing, accounts, compliance, analysts, data science post-trade analysis.
Small investment firms:Market surveillance, risk management, investment management and asset allocation.

To find out more contact us on team@eosedata.com

Profile image of Suzanne Lock
“We offer a free, independent, no obligation consultation to review and work out how best we can help you and your business. To find out more please get in touch. We look forward to hearing from you.”