US-based bond market pre-trading data provider Neptune Networks completed a two-tranche funding round yesterday sized at more than $15m that included investments from several financial services firms.
Banking firms Bank of America, Barclays, Crédit Agricole CIB, Deutsche Bank, Goldman Sachs, Morgan Stanley, JP Morgan, UBS, ING, BBVA, BNP Paribas, Citi and Credit Suisse provided the funding.
Neptune connects buy-side traders to real-time market data covering about 63,000 fixed-assets including bonds, across classes including high-yield credit, rates and emerging markets.
The data is collected from 28 sell-side dealers who are strategic partners of Neptune, including at least some of the investors from the latest round.
The funding will support technology and operations development, catering to its US clients and helping to extend market coverage. Neptune was formed by a consortium of banks including several of the round’s participants.