TP Icap, a prominent provider of financial market infrastructure, has announced its acquisition of data company Neptune Networks. This strategic move also includes a collaboration with nine leading investment banks to establish a dealer-to-client credit business, with financial details remaining undisclosed.
Neptune Networks is renowned for providing real-time pre-trade bond market data sourced from various sell-side banks to buy-side clients. By combining Neptune’s advanced data network with TP Icap’s Liquidnet electronic credit trading platform, the partnership aims to create a comprehensive global dealer-to-client credit service.
At the inception of this venture, Barclays, BNP Paribas, Citi, Crédit Agricole CIB, Deutsche Bank, ING, JP Morgan, Morgan Stanley, and UBS will hold a collective 30% stake in the new entity. TP Icap believes this collaboration will effectively resource and motivate Liquidnet and its partner banks to foster business growth.
Nicolas Breteau, CEO of TP Icap, commented, “By integrating Liquidnet’s extensive client reach with top liquidity providers, we can facilitate seamless and discreet connections between the sell-side and buy-side. This positions us to drive significant advancements in fixed income markets and enhance liquidity.”
Peter Rafferty, Global Head of Secondary Credit at BNP Paribas, remarked, “As advocates for innovation and digital transformation in the market, BNP Paribas is enthusiastic about merging these platforms to create a more interconnected, efficient, and data-driven ecosystem for institutional credit clients.”