EPAM Helps Neptune Exceed Growth Expectations
Industry-Defining Progress Supported Through Strong Technology Partnership
NEWTOWN, Pa., Oct. 26, 2017 (GLOBE NEWSWIRE) -- EPAM Systems, Inc. (NYSE:EPAM), a leading global provider of digital platform engineering and software development services, and its client, Neptune, an open standards network utility for the fixed income market developed by EPAM, are celebrating more than two successful years on the market.
The first utility of its type in Europe, Neptune launched in August 2015 with a limited set of buy-side and sell-side sponsors using the network. Today, the network has 25 leading banks in its consortium and carries over 30,000 different securities with over $170 billion in gross notional across 20 different currencies.
"When we were first approached by Neptune, we didn't know how fast it was going to grow in just two years. By leveraging our domain knowledge in financial services, software engineering heritage and big data expertise, EPAM was able to provide the technology backbone that allowed Neptune to scale and expand substantially," said Mark Bisker, Senior VP of Banking and Financial Solutions, EPAM. "We look forward to partnering and collaborating with Neptune in the future to drive even greater growth, develop new features and enhance innovation."
Neptune uses a FIX standard for pre-trade information flows, allowing banks and investors to exchange controlled and targeted real-time axe and inventory data. Asset managers using the system connect directly to the utility via a GUI, their own in-house developed OMS, or an external OMS provider to receive pre-trade indications from multiple banks.
Grant Wilson, CEO of Neptune Networks, commented, "We embarked on the creation of Neptune with the objective of creating a platform that had the capability to not only meet our immediate plans, but to give us the capacity to grow and develop. Through their expertise, our trusted EPAM team delivered this technology, which will help us as we continue to expand our business."
For more information about EPAM's capabilities in financial services, please visit www.epam.com/industries/financial-services. For more information about Neptune, please visit www.neptunefi.com.
About EPAM Systems
Since 1993, EPAM Systems, Inc. (NYSE:EPAM), has leveraged its core engineering expertise to become a leading global product development and digital platform engineering services company. Through its 'Engineering DNA' and innovative strategy, consulting, and design capabilities, EPAM works in collaboration with its customers to deliver innovative solutions that turn complex business challenges into real business opportunities. EPAM's global teams serve customers in over 25 countries across North America, Europe, Asia and Australia. EPAM is a recognized market leader among independent research agencies and was ranked #12 in FORBES 25 Fastest Growing Public Tech Companies, as a top information technology services company on FORTUNE'S 100 Fastest Growing Companies, and as a top UK Digital Design & Build Agency. Learn more at http://www.epam.com/ and follow us on Twitter @EPAMSYSTEMS and LinkedIn.
About Neptune Networks Ltd
Neptune Networks Ltd is a data network which was incorporated in July 2016 with a mission to deliver the most accurate, timely data, which both informs and connects the bond market. Our vision is to become the destination for all bond market stakeholders, where reliable, relevant insight enables meaningful, transactional relationships between banks and investors. Neptune focuses on delivery of real-time axe data from the sell-side to the buy-side via their order management systems (OMS) and execution management systems (EMS).
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EPAM Systems, Inc via Globenewswire
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