In the 2024 Trading Intentions Survey, 53% of respondents reported being users of Neptune’s electronic axe distribution platform, with 24% counting themselves ‘major users’, indicative that it is more a ‘must have’ than a ‘nice to have’. Given the firm only sits behind the big three trading platforms as larger providers of pre-trade data, it is punching above its weight as a platform with a single type of pre-trade information.