Axoni
About Axoni
Axoni is building the next generation of capital markets technology
Axoni is a New York-based technology firm that builds multi-party workflows and infrastructure for some of the largest financial institutions in the world. Founded in 2013, the company offers core data infrastructure, application development, and automation tools.
Founders
Greg Schvey Founder/CEO Greg is a repeat entrepreneur and drives Axoni’s strategic execution. He previously co-founded TradeBlock and worked as a fixed income analyst at Citigroup. Greg holds a bachelor’s degree from Cornell University where he studied finance.
Greg Schvey Founder/CEO Greg is a repeat entrepreneur and drives Axoni’s strategic execution. He previously co-founded TradeBlock and worked as a fixed income analyst at Citigroup. Greg holds a bachelor’s degree from Cornell University where he studied finance.
Jeffrey Schvey Founder/CTO Jeff oversees all technology at Axoni. He previously co-founded TradeBlock and worked as the Engineering Lead in Raytheon’s strategy group. Jeff holds a master’s degree in engineering from Cornell University.
Jeffrey Schvey Founder/CTO Jeff oversees all technology at Axoni. He previously co-founded TradeBlock and worked as the Engineering Lead in Raytheon’s strategy group. Jeff holds a master’s degree in engineering from Cornell University.
Latest News
Axoni Announces $20 Million Equity Financing Led by EJF Ventures with Participation from Laurion Capital, Communitas Capital, and Existing Investors - A X O N I Apr 26, 2023
Hear from the founders
How did your company get started? (i.e., How did the founders meet? How did you come up with the idea? How did you decide to be a founder?) 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.
What's the history of your company from getting started until the present day? What were the big inflection points?
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.
What is the core problem you are solving? Why is this a big problem? What made you decide to work on it?
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.
What is your long-term vision? If you truly succeed, what will be different about the world?
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.
Axoni Founded: 2013 Batch: Winter 2014 Team Size: 155 Status: Acquired Location: New York
Company at a glance
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