Axoni
Type
Industry
Headquarters
New York City
Key people
Greg Schvey, CEO
Websiteaxoni.com

Axoni is an American technology company that develops blockchain software for financial institutions. It caters to trading firms, infrastructure providers, and technology companies in the United States, Europe, and Asia.[1] The company operates Veris, a distributed ledger system used by large financial companies.[2]

History

Axoni was established in 2013 to build and deploy institutional blockchain and distributed ledger technology similar to the one that powers bitcoin.[1]

This system was developed with other tech companies, namely, R3 and IBM.[3] The permissioned distributed ledger network for derivatives is governed by DTCC[3] and also uses Axcore.[4]

Axoni is also a partner of Options Clearing Corporation (OCC), one of the largest equity derivatives clearing organization.[5] This platform assists BATS, Cboe, Nasdaq, and the NYSE.[5]

Veris

In 2020, Axoni launched Veris, a distributed ledger network that manages equity swap transactions.[6] This system is designed for matching and reconciling post-trade data on stock swaps.[7] Companies using this network includes BlackRock Inc., Goldman Sachs Group Inc., and Citigroup, Inc.[7][2] The infrastructure functions as an equity swaps platform, where participating institutions can maintain continual reconciliation of equity swaps until they reach maturity.[8]

Trading is synchronized for a transaction throughout its lifecycle, and participants can relay changes in real-time.[6] Its first recorded swap involved transactions by Citi and Goldman Sachs.[6][9] It is also based on the Axcore technology, adding to a suite of enterprise software that provides data management, automation, and development kits (e.g., for distributed application).[10]

References

  1. 1 2 Castillo, Michael del. "Deutsche Bank Says $31 Million Investment Could Save Capital Markets 'Billions' Of Dollars, No Blockchain Necessary". Forbes. Retrieved 2022-05-18.
  2. 1 2 Brett, Charles (2021-09-15). "Axoni's Veris attracts BlackRock on equity swaps network". Enterprise Times. Retrieved 2022-10-04.
  3. 1 2 Dalhuisen, Jan H. (2019). Dalhuisen on Transnational Comparative, Commercial, Financial and Trade Law Volume 3: Financial Products, Financial Services and Financial Regulation, Seventh Edition. Oxford: Bloomsbury Publishing. p. 339. ISBN 978-1-5099-2654-1.
  4. ↑ Welfare, Antony (2019). Commercializing Blockchain: Strategic Applications in the Real World. Hoboken, NJ: John Wiley & Sons. p. 151. ISBN 978-1-119-57802-4.
  5. 1 2 Castillo, Michael del. "OCC Deal To Move $72 Billion In Equities To Axcore Blockchain". Forbes. Retrieved 2022-05-31.
  6. 1 2 3 "Citi and Goldman Sachs go live with blockchain equity swaps platform - The TRADE". www.thetradenews.com. Retrieved 2022-05-20.
  7. 1 2 "BlackRock Joins Blockchain Platform Axoni for Equity Swap Trades". Bloomberg.com. 2021-09-07. Retrieved 2022-05-20.
  8. ↑ Castillo, Michael del. "Citi, Goldman Sachs Conduct First Blockchain Equity Swap On Ethereum-Inspired Platform". Forbes. Retrieved 2022-05-20.
  9. ↑ Leising, Matthew (2021). Out of the Ether: The Amazing Story of Ethereum and the $55 Million Heist that Almost Destroyed It All. Hoboken, NJ: John Wiley & Sons. p. 271. ISBN 978-1-119-60293-4.
  10. ↑ Brett, Charles (2021-09-15). "Axoni's Veris attracts BlackRock on equity swaps network". Enterprise Times. Retrieved 2022-05-31.
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