RealQ: Frequently Asked Questions
Liquidnet Fixed Income and Neptune Networks rebranding
May 2026
These FAQs address common questions related to the rebranding of Liquidnet Fixed Income and the services provided by Neptune Networks, to RealQ.
General
Why is the business adopting the RealQ brand?
RealQ serves as a single brand for fixed income services operating under the Liquidnet and Neptune names. Following TP ICAP’s acquisition of Neptune Networks, these complementary businesses now continue to provide the same services under a distinct and unified identity. The RealQ brand reflects a focus on liquidity access, price formation, and execution across credit markets.
How will this rebrand affect clients?
Clients will not be materially affected by the rebrand and it does not involve changes to accounts, access, or service.
Is RealQ a new business or trading venue?
No. RealQ is a brand adopted for the existing Liquidnet Fixed Income and Neptune Networks services. The rebrand does not create a new business entity and does not involve a new trading venue.
Is RealQ a new entity?
No. RealQ is the public-facing brand covering the associated fixed income businesses of Liquidnet Fixed Income and Neptune Networks, brought together following TP ICAP’s acquisition of Neptune Networks. There are no material changes to the corporate structure of the firms that operate these businesses as a function of this rebrand.
Does the rebrand affect the regulatory status of the business?
No. This rebranding does not alter regulatory registrations, licenses, or obligations of the Liquidnet Fixed Income entities (Neptune Networks does not operate a regulated business).
Client Accounts
Do clients need to sign new agreements because of the rebrand?
No. The rebrand does not change the legal names of the operating companies. Existing agreements remain in force, and no new documentation is required to continue accessing the services.
Will account numbers, logins, or platform access change?
No. Account numbers, login credentials, and platform access remain unchanged. Going forward, Clients will see updated RealQ branding in communications and existing user interfaces.
Will pricing, fees, or business terms change?
No. Pricing, fee structures, and existing business terms for Liquidnet Fixed Income and Neptune Networks services are not affected by the rebrand.
Will coverage teams change?
No. Coverage teams remain the same. Existing contacts will continue to provide service and support and may reach out to address questions or collect feedback related to the rebrand.
Services and Branding
What services are included under the RealQ brand?
The RealQ brand encompasses the fixed income services currently offered under Liquidnet Fixed Income and Neptune Networks. These services are operated by affiliated entities and are positioned as an integrated offering to the global fixed income market.
Is the Liquidnet name being retired?
No. The registered financial firms with which you interact, which have Liquidnet in their name, are unchanged so you will continue to see this name going forward. RealQ will be the brand that distinguishes our Fixed Income services. Further, Liquidnet's Equities business will continue to operate under the Liquidnet branding.
Does the rebrand mean the business was acquired or restructured?
No. The rebrand does not reflect an acquisition, merger, or structural change to the operating companies supporting the Liquidnet Fixed Income or Neptune Networks businesses.
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