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
- ^ a b Castillo, Michael del. "Deutsche Bank Says $31 Million Investment Could Save Capital Markets 'Billions' Of Dollars, No Blockchain Necessary". Forbes. Retrieved 2022-05-18.
- ^ a b Brett, Charles (2021-09-15). "Axoni's Veris attracts BlackRock on equity swaps network". Enterprise Times. Retrieved 2022-10-04.
- ^ a b 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.
- ^ Welfare, Antony (2019). Commercializing Blockchain: Strategic Applications in the Real World. Hoboken, NJ: John Wiley & Sons. p. 151. ISBN 978-1-119-57802-4.
- ^ a b Castillo, Michael del. "OCC Deal To Move $72 Billion In Equities To Axcore Blockchain". Forbes. Retrieved 2022-05-31.
- ^ a b c "Citi and Goldman Sachs go live with blockchain equity swaps platform - The TRADE". www.thetradenews.com. Retrieved 2022-05-20.
- ^ a b "BlackRock Joins Blockchain Platform Axoni for Equity Swap Trades". Bloomberg.com. 2021-09-07. Retrieved 2022-05-20.
- ^ Castillo, Michael del. "Citi, Goldman Sachs Conduct First Blockchain Equity Swap On Ethereum-Inspired Platform". Forbes. Retrieved 2022-05-20.
- ^ 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.
- ^ Brett, Charles (2021-09-15). "Axoni's Veris attracts BlackRock on equity swaps network". Enterprise Times. Retrieved 2022-05-31.
This page was last edited on 7 April 2024, at 06:11