TP ICAP Group PLC, a provider of financial markets infrastructure, today announced the acquisition of Neptune Networks, an independent financial data company co-owned by a consortium of some of the world’s leading investment banks. Neptune delivers high-quality, real-time pre-trade bond market data from many sell-side banks to buy-side clients.

TP ICAP will bring together Neptune’s extensive proprietary data network with Liquidnet’s electronic credit trading platform, creating a unique, full service, global Dealer-to-Client (“D2C”) credit business.

At launch, Barclays, BNP Paribas, Citi, Crédit Agricole CIB, Deutsche Bank, ING, J.P. Morgan, Morgan Stanley and UBS will own a 30% stake in the new business. This ownership structure is intended to ensure that Liquidnet and the Bank Shareholders are resourced and incentivised to grow the business.

Nicolas Breteau, CEO, TP ICAP Group:

“Neptune is an exceptional platform with deep connectivity on both the sell-side and buy-side. With our partners, we plan to enhance and grow Neptune’s core data business, strengthening its relevance to the buy-side via Liquidnet’s electronic credit trading platform. By combining Liquidnet’s extensive client reach with leading liquidity providers, we can seamlessly and discreetly connect the sell-side and buy-side to unlock exciting potential, positioning us well to drive a step-change in fixed income markets and liquidity.”

Byron Cooper-Fogarty, CEO, Neptune Networks Ltd.:

“I am excited by the opportunities this acquisition creates. The resources, talent and experience of Liquidnet’s Fixed Income business will complement Neptune’s strengths in real-time, high quality bond data. There is a natural fit that, along with the continued commitment of the major banks, will create an entity that benefits buy-side and sell-side clients of both firms.”