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Project Neptune

Etrading Software launched and now manages the Neptune utility for pre-trade data.

After considerable research, Etrading Software launched Project Neptune as a consortium of both sell-side and buy-side to address the issue of pre-trade data.  The sell-side were spending money creating custom datasets for each of their clients, to be delivered using various methods from email to instant chat.  The buy-side were increasingly growing tired of trawling huge volumes of data to find the specific instruments they wanted to buy and then following up with the sell-side only to find they no longer have the inventory.

By developing and implementing an open standard utility, with an industry governance and a not-for-profit principle, Neptune delivered the following benefits:

  • Structured, standardized pre-trade data sent directly from the sell-side to their clients
  • Improved quality axe and inventory messages that are updated to reflect actual trading intentions
  • Execution venue-neutral pre-trade data that allows buy-side and sell-side to trade on their preferred platform
  • Strong data ownership model and industry governance
16 May 2017
Grant Wilson announces full coverage of the top FI dealers: BAML joins Neptune
6 April 2017
Grant Wilson announces the connection of FlexTrade to Neptune.
3 April 2017
Sassan Danesh discusses the launch of the Derivatives Service Bureau UAT platform.
29 March 2017
Sentinel Consortium on track to meet MiFID II deadlines.