Axoni
{{Short description|American technology company}}
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{{Infobox company
| name = Axoni
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| type = {{Unbulleted list|Technology company}}
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| hq_location_city = New York City
| key_people = Greg Schvey, CEO
| industry = {{Unbulleted list|Financial services}}
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| homepage = {{Url|https://axoni.com/}}
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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.{{Cite web |last=Castillo |first=Michael del |title=Deutsche Bank Says $31 Million Investment Could Save Capital Markets ‘Billions’ Of Dollars, No Blockchain Necessary |url=https://www.forbes.com/sites/michaeldelcastillo/2021/02/01/deutsche-bank-says-31-million-blockchain-investment-could-save-capital-markets-billions-of-dollars/ |access-date=2022-05-18 |website=Forbes |language=en}} The company operates Veris, a distributed ledger system used by large financial companies.{{Cite web |last=Brett |first=Charles |date=2021-09-15 |title=Axoni's Veris attracts BlackRock on equity swaps network |url=https://www.enterprisetimes.co.uk/2021/09/15/axonis-veris-attracts-blackrock-on-equity-swaps-network/ |access-date=2022-10-04 |website=Enterprise Times |language=en-GB}}
History
Axoni was established in 2013 to build and deploy institutional blockchain and distributed ledger technology similar to the one that powers bitcoin.
This system was developed with other tech companies, namely, R3 and IBM.{{Cite book |last=Dalhuisen |first=Jan H. |title=Dalhuisen on Transnational Comparative, Commercial, Financial and Trade Law Volume 3: Financial Products, Financial Services and Financial Regulation, Seventh Edition |publisher=Bloomsbury Publishing |year=2019 |isbn=978-1-5099-2654-1 |location=Oxford |pages=339 |language=en}} The permissioned distributed ledger network for derivatives is governed by DTCC and also uses Axcore.{{Cite book |last=Welfare |first=Antony |title=Commercializing Blockchain: Strategic Applications in the Real World |publisher=John Wiley & Sons |year=2019 |isbn=978-1-119-57802-4 |location=Hoboken, NJ |pages=151 |language=en}}
Axoni is also a partner of Options Clearing Corporation (OCC), one of the largest equity derivatives clearing organization.{{Cite web |last=Castillo |first=Michael del |title=OCC Deal To Move $72 Billion In Equities To Axcore Blockchain |url=https://www.forbes.com/sites/michaeldelcastillo/2020/05/05/occ-deal-to-move-72-billion-in-equities-to-axcore-blockchain/ |access-date=2022-05-31 |website=Forbes |language=en}} This platform assists BATS, Cboe, Nasdaq, and the NYSE.
= Veris =
In 2020, Axoni launched Veris, a distributed ledger network that manages equity swap transactions.{{Cite web |title=Citi and Goldman Sachs go live with blockchain equity swaps platform - The TRADE |url=https://www.thetradenews.com/citi-goldman-sachs-go-live-blockchain-equity-swaps-platform/ |access-date=2022-05-20 |website=www.thetradenews.com}} This system is designed for matching and reconciling post-trade data on stock swaps.{{Cite news |date=2021-09-07 |title=BlackRock Joins Blockchain Platform Axoni for Equity Swap Trades |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/news/articles/2021-09-07/blackrock-joins-blockchain-platform-axoni-for-equity-swap-trades |access-date=2022-05-20}} Companies using this network includes BlackRock Inc., Goldman Sachs Group Inc., and Citigroup, Inc. The infrastructure functions as an equity swaps platform, where participating institutions can maintain continual reconciliation of equity swaps until they reach maturity.{{Cite web |last=Castillo |first=Michael del |title=Citi, Goldman Sachs Conduct First Blockchain Equity Swap On Ethereum-Inspired Platform |url=https://www.forbes.com/sites/michaeldelcastillo/2020/02/06/citi-goldman-sachs-conduct-first-blockchain-equity-swap-on-ethereum-inspired-platform/ |access-date=2022-05-20 |website=Forbes |language=en}}
Trading is synchronized for a transaction throughout its lifecycle, and participants can relay changes in real-time. Its first recorded swap involved transactions by Citi and Goldman Sachs.{{Cite book |last=Leising |first=Matthew |title=Out of the Ether: The Amazing Story of Ethereum and the $55 Million Heist that Almost Destroyed It All |publisher=John Wiley & Sons |year=2021 |isbn=978-1-119-60293-4 |location=Hoboken, NJ |pages=271 |language=en}} 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).{{Cite web |last=Brett |first=Charles |date=2021-09-15 |title=Axoni's Veris attracts BlackRock on equity swaps network |url=https://www.enterprisetimes.co.uk/2021/09/15/axonis-veris-attracts-blackrock-on-equity-swaps-network/ |access-date=2022-05-31 |website=Enterprise Times |language=en-GB}}