Neptune Networks (Neptune) has launched a new composite product, produced in collaboration with CME Group, to provide clients access to a ‘higher quality representation’ of the global bond market.
This latest addition to Neptune, a consortium of sell-side banks that provide bond market data to buy-side clients, has been sourced from data calculated from a combination of AXE/INV positions and two-way streams. Due to Neptune’s existing distribution channel, the company says the data received is of a superior level, creating a higher quality composite.
“The finance industry is quickly adapting to a new world of data. Evolving demand resulting in global spending on financial market data and analysis hitting record industry growth of USD30.5 billion. Collaborating with CME Group allows Neptune to bring a composite based on high quality data to the market, helping firms with rising costs,” says Grant Wilson CEO.
“Our customers are increasingly asking us to deliver data beyond our core markets through CME Group infrastructure to make information access faster and at a lower cost than a bespoke approach,” says Adam Honoré (pictured), Head of Data Products at CME Group, “We are excited to work with Neptune Networks to deliver a corporate bond composite without the overhead of additional subscriptions or fees.”
The product is available via the Neptune user interface and live on any bond that fits the liquidity and pricing to create the composite. This will extend as further data and asset classes are added to the network. Data contributors receive the composite for free, on a give to get relationship. Customers can also receive this product via a direct feed from the CME.
