Neptune Networks platform solution based on FIX Edge

Customer

NEPTUNE NETWORKS LTD is a consortium of world-known banks, managed by ETRADING SOFTWARE LTD (EPAM client). Neptune Networks Ltd. ("Neptune"​) provides a data connectivity network, supplying the highest quality bond pre-trade data (axes and inventory) from the sell-side to the buy-side via FIX workflows.

Neptune supplies data that is standardized, real-time and direct from sell-side risk systems.

Challenge

The Neptune platform was designed to allow banks and investors to exchange controlled and targeted, real-time axe by providing trading data via standard protocols, rather than periodic, manual spreadsheets with their high probability of errors and poor timeliness.

42 large world-known banks and asset managers launched project "Neptune" in October 2014 with the intention of creating an open standard for buy- and sell-side participants to exchange real-time inventory. Neptune challenged EPAM to build Routing network for the communication of pre-trade indications between financial institutions.  

Solution  

The Neptune Networks platform solution is based on EPAM FIX connectivity products and custom developed features.

EPAM has contributed in Neptune project in the following way:

  • Development of custom FIX dictionaries
  • Creation and modification of business rules
  • Developed routing mechanism between multiple customers based on B2B FIX server FIXEdge®. The solution works with up to 300 FIX sessions and 300 million messages per day
  • Addressing disaster recovery and resilience requirements
  • Setting up the dedicated Testing/Certification/Production application environments
  • Developed and maintained High Availability FIXEdge® and database clustering solution with transparent for clients virtual IPs
  • Configuring web-monitoring of FIX Edge, FIX sessions, status of the database servers, permissions
  • Continuous support of application environments on 24/5 basis

 Technologies and Tools

DB: PostgreSQL 9.5; OS: Red Hat 7.2; Windows Server 2012R2 for support purposes; Cluster soft: Pacemaker, Corosync & PCS 

Results

The Neptune Networks platform can provide data across asset classes after expanding its network, which allows institutional investors to access real-time bond pricing from banks in a standard format.

Neptune continues to evolve and grow throughout 2018. Currently 50,000 axes on 30,000 bonds, totalling $200bn in gross notional on a daily basis. Asset class coverage has expanded from Credit (IG/HY) to include Emerging Markets, Rates and Structured (ABS/MBS), primarily in USD, EUR and GBP. Adoption on the buy-side continues with over 50 firms managing $27tn in assets globally