Axoni

Greg and Jeff, brothers and co-founders of Axoni, have worked together for over a decade, bringing complimentary skills leveraging both their unique backgrounds. Greg started his career working on Fixed Income at Citi, leaving to work in tech, while Jeff was the Engineering Lead in a strategy group at Raytheon. In 2013, they recognized the lack of enterprise-grade tools for bitcoin trading and began to build  TradeBlock, their first company, with products for institutional clients including data feeds, an institutional portfolio management platform, and created the road to building technology around core banking transactions.

Axoni started in 2016 - originally as an additional business line at TradeBlock, with the goal of overhauling global capital markets infrastructure. In 2016, the company launched announcing an engagement with ICAP’s Post Trade Risk and Information division to optimize post-trade workflows in the foreign exchange market. Later in 2016, seven firms, including Bank of America Merrill Lynch, Citi, Credit Suisse, J.P. Morgan, and The Depository Trust & Clearing Corporation (DTCC) announced the successful test of blockchain technology and smart contracts to manage post-trade lifecycle events for credit default swaps (CDS). In 2017, eleven firms completed a pilot to manage equity swap transactions, leading to the launch of Veris, Axoni’s permissioned ledger network for equity swaps. In 2020, Axoni continued to grow rapidly, including technology partnerships with DirectBooks™, the communication platform for primary issues of corporate bonds and the Options Clearing Corporation (OCC), the world’s largest equity derivatives clearing organization.

The world of capital markets is a massive web of proprietary systems, processing large volumes of highly complex data. It’s built from layers and layers of systems or databases that need to interact to process every trade. These systems were not built anticipating challenges around synchronization with external parties, often breaking as they try to communicate with one another. Despite endless layers of manual and automated reconciliation processes, inter-system data synchronization remains one of the most pervasive and costly problems in capital markets, stemming from risk of synchronization loss, mistranslation, and data integrity. Axoni’s technology allows clients to have provably accurate data in real-time to reduce operational risk and costs, as well as unlock unprecedented opportunities for data analytics.

Our vision is a world of perfectly synchronized data across financial markets, eliminating the massive costs and risk that exist in the markets today. Our goal is to be the  de facto protocol for sharing data in financial markets to enable our clients to move beyond the constraints and inefficiencies of legacy systems.