Charles River and Neptune Networks Announce Strategic Collaboration to Provide Fixed Income Inventory Data to Buy-side
May 21 2019 - 9:00AM
Business Wire
Charles River Development, a State Street Company, and Neptune
Networks Ltd. (Neptune), today announced a strategic collaboration
that will provide buy-side clients of Charles River’s Order and
Execution Management System (OEMS) with aggregated, real-time fixed
income axes and inventory. Neptune provides technology solutions
that enable real-time connectivity and deliver high-quality bond
market data from sell-side banks to buy-side clients.
The collaboration is the latest addition to Charles River’s
growing ecosystem of global liquidity venues, data, analytics,
third party apps, and benchmark providers. Buy-side firms can
configure and scale the Charles River platform to optimally support
their asset mix, investment process and execution priorities.
“Collaborating with Neptune underscores Charles River’s
commitment to offering our clients the most diverse and
comprehensive platform available for managing their fixed income
products and portfolios,” said John Plansky, CEO Charles River.
“Neptune’s innovative approach to standardizing massive volumes of
unstructured data and aggregating liquidity across multiple dealers
enables our clients to make faster and more informed trading
decisions in highly fragmented and illiquid fixed income
markets.”
Since its 2016 launch, Neptune has grown rapidly with 28 dealers
on the platform, over USD210B of gross notional and more than
60,000 axe/inventory items updated in real time across 30,000
individual bonds daily.
In addition to Investment Grade, High Yield, Emerging Markets
and Rates, Neptune now quotes MBS and Munis, and has recently added
bilateral messaging to further digitize the fixed income trading
lifecycle. By providing a facility for direct exchange of axe and
inventory information, Neptune enables greater transparency and
trading efficiencies between bond dealers and investment firms.
“Connectivity to the Charles River OEMS will benefit our mutual
buy-side clients by automating time consuming price discovery and
liquidity aggregation,” said Byron Cooper-Fogarty, Neptune’s Head
of Sales. “Portfolio managers can quickly target axes and inventory
of interest, enabling faster decision making and fewer missed
trading opportunities. The inventory data captured in the Charles
River OEMS also aids clients in demonstrating and documenting MiFID
II-mandated best execution requirements.”
About Charles River, a State Street CompanyCharles River
Development, a State Street Company, enables sound and efficient
investing across all asset classes. Investment firms in more than
40 countries use Charles River IMS to manage more than US$25
Trillion* in assets in the institutional investment, wealth
management and hedge fund industries. Our Software as a
Service-based solution (SaaS) is designed to automate and simplify
investment management on a single platform – from portfolio
management and risk analytics through trading and post-trade
settlement, with integrated compliance and managed data
throughout. Headquartered in Burlington, Massachusetts, we
support clients globally with more than 750 employees in 11
regional offices. For more information, please visit
www.crd.com.
*As of April 2019
About Neptune Networks, Ltd.Neptune Networks delivers
high-quality bond market data from sell-side banks to buy-side
clients. 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. We are uniquely positioned in the
marketplace, as we have bilateral commitment from buy-side and
sell-side, including representatives of each sitting on our
board.
About State Street CorporationState Street Corporation
(NYSE: STT) is one of the world's leading providers of financial
services to institutional investors, including investment
servicing, investment management and investment research and
trading. With $32.6 trillion in assets under custody and
administration and $2.8 trillion* in assets under management as of
March 31, 2019, State Street operates globally in more than 100
geographic markets and employs approximately 40,000 worldwide. For
more information, visit State Street's website at
www.statestreet.com.
*Assets under management include the assets of the SPDR® Gold
ETF and the SPDR® Long Dollar Gold Trust ETF (approximately $33
billion as of March 31, 2019), for which State Street Global
Advisors Funds Distributors, LLC (SSGA FD) serves as marketing
agent; SSGA FD and State Street Global Advisors are affiliated.
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.
© 2019 State Street Corporation - All Rights Reserved
2545075.1.1.GBL.
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version on businesswire.com: https://www.businesswire.com/news/home/20190521005226/en/
Mary Masi-Phelps, marymasiphelps@crd.com, 781-425-6155
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