Axoni
Axoni provides real-time data replication and synchronization software for the world's largest financial institutions, processing trillions of dollars annually through its HYDRA platform. The company serves major banks, asset managers, and market infrastructure providers including DTCC, OCC, and LSEG.
- Company typePrivate
- Founded2013
- HeadquartersNew York, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Axoni does
Axoni is a financial markets infrastructure technology company that provides real-time data replication and synchronization software to the world's largest financial institutions, including major investment banks, asset managers, hedge funds, and capital markets infrastructure firms. Founded in 2013 by CEO Greg Schvey and CTO Jeff Schvey (repeat founders of TradeBlock), the company is headquartered in New York with an additional office in London and operates across North America, Europe, and Asia. Axoni sells complex B2B infrastructure software via a consultative enterprise sales motion involving proof-of-concept deployments and multi-firm working groups.
The company's core platform is HYDRA (formerly AxCore), a real-time data replication engine that automates synchronization of trade data between counterparties, reducing manual reconciliations, data pipeline management costs, and operational risk across capital markets infrastructure. The platform is built on distributed ledger and multi-party data synchronization technology and processes trillions of dollars annually across international markets. Axoni also developed AxLang, a Scala-based programming language that enables formal verification of smart contracts for Ethereum-compatible networks. The company previously operated Veris, a distributed ledger network for equity swaps post-trade processing, which was sold to the London Stock Exchange Group (LSEG) in September 2024 alongside related intellectual property. In 2024 the company deliberately pivoted away from blockchain as its core foundation and rebranded AxCore to HYDRA to position around broader real-time data replication.
Axoni generates revenue primarily through enterprise software licensing and platform fees, with deployment at marquee clients including Goldman Sachs, Citi, J.P. Morgan, HSBC, UBS, Wells Fargo, and BlackRock (via Aladdin integration), as well as market infrastructure firms such as DTCC, OCC, and LSEG. Multiple customers — including Goldman Sachs, J.P. Morgan, Citi, Wells Fargo, HSBC, Deutsche Bank, and UBS — are also strategic equity investors and board participants, creating deeply embedded commercial and capital relationships. The company has raised more than $110 million across multiple funding rounds since inception and maintains SOC 2 Type 2 certification, multiple granted US and Chinese patents, and an active portfolio of industry awards including Risk.net's 2024 OpRisk Innovation of the Year.
Axoni firmographics
Firmographics- Name
- Axoni
- Legal name
- Schvey, Inc.
- Website
- https://axoni.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Axoni provides real-time data replication and synchronization software for the world's largest financial institutions, processing trillions of dollars annually through its HYDRA platform. The company serves major banks, asset managers, and market infrastructure providers including DTCC, OCC, and LSEG.
- Ownership category
- akta.pro rank
Where Axoni is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Axoni business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Enterprise Software Licenses and Platform Fees: Axoni provides its HYDRA data replication platform and previously Veris distributed ledger network to financial institutions. Revenue appears to come from platform licensing, technology deployment fees, and possibly per-transaction or network participation fees tied to the scale of data processed by clients.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Axoni product offering
Product offeringCore offering
Axoni develops and operates HYDRA (formerly AxCore), a real-time, automated data replication and synchronization platform that enables financial institutions to share critical trade and market data across counterparties. The platform reduces reconciliations, lowers data pipeline management costs, and minimizes operational risk in capital markets workflows such as post-trade processing, equity swaps, credit derivatives, and securities lending. The company also builds trade workflow applications on top of the platform for institutional clients.
Product overview
Axoni is a financial markets infrastructure technology company offering a unified platform for data synchronization and trade workflow solutions. The core product is HYDRA (formerly AxCore), a real-time data replication platform that synchronizes data between financial institutions across international markets, processing trillions of dollars annually. The product suite includes HYDRA for data replication, AxLang for formally verifiable smart contracts, and trade workflow applications for equity swaps, credit derivatives, and securities lending. The company also developed Veris (sold to LSEG in 2024) for post-trade equity swaps processing. Axoni shifted from its blockchain origins toward more conventional distributed ledger and data synchronization technology.
Differentiator
Problem solved
Functional benefit
Brands
- HYDRA: Real-time data replication platform for capital markets. Formerly known as AxCore, HYDRA enables rapid deployment of critical financial networks and automated, real-time data replication across market participants.
- Veris
Products and services
- HYDRA (formerly AxCore) Real-time, automated data replication platform that delivers secure data synchronization between financial institutions, reducing reconciliations, data pipeline management costs, and operational risk. Processes trillions of dollars annually across international markets.
- Trade Workflow Applications Suite of applications for trade workflow automation and post-trade infrastructure across financial markets, including equity swaps, credit derivatives, and securities lending.
Quantifiable outcome
- Axoni's AxCore platform processes trillions of dollars annually across international markets
- +2 more outcomes
Companies that use Axoni
Customer profileNamed customers12 records
Segments1 record
Ideal customer profiles3 records
Axoni technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature3 records
Axoni partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- LSEG (London Stock Exchange Group)coreAxoni sold its Veris post-trade processing business and related intellectual property to LSEG in September 2024. LSEG and Axoni previously co-developed the HYDRA platform, which won the Risk Technology Award for OpRisk Innovation of the Year 2024. The transaction is subject to closing conditions.
- DirectBookscoreDirectBooks, a capital markets consortium of 9 global banks (Bank of America, Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley, Wells Fargo), partnered with Axoni as its technology provider for a bond issuance communications platform. Axoni's expertise and technology deliver a scalable service across asset classes and regions.
- OCC (Options Clearing Corporation)coreOCC, the world's largest equity derivatives clearing organization, selected Axoni to develop and implement a distributed ledger technology solution to replace its existing securities lending infrastructure. Development began Q2 2020 with phased deployment. The solution leverages AxCore distributed ledger protocol deployed in the cloud, establishing a permissioned network for cleared stock loan transactions.
- REGnosysminorAxoni and REGnosys jointly developed a Scala implementation of the ISDA Common Domain Model (CDM), the first CDM-native code contributions from a third party. The open source project enables applications to be built on any infrastructure supporting Scala, including Axoni's distributed ledger platform. ISDA contracted REGnosys to develop CDM code.
- ISDAminorAxoni collaborated with ISDA and REGnosys to produce an open source Scala implementation of the ISDA Common Domain Model (CDM). Axoni also contributed to the ISDA CDM and its Scala generator. The CDM provides a standardized model for derivative trade processing to enhance consistency across firms.
- CapcominorCapco, a global financial services management consulting firm (part of FIS), partnered with Axoni as consulting services provider for multi-firm blockchain implementations for equity swaps. Capco assisted participant firms in building business cases and quantifying potential savings and efficiencies.
- DTCC (Depository Trust & Clearing Corporation)coreDTCC selected Axoni (in partnership with IBM and R3) to re-platform its Trade Information Warehouse for credit derivatives onto distributed ledger technology and cloud. The TIW serves as the legal record for bilateral credit derivatives and manages lifecycle events, payment calculations, and settlement for the $11 trillion credit derivatives market. Development was completed and testing with 15 global banks began in November 2018.
Scale indicators5 records
Recent moves7 records
Expansion highlights6 records
Axoni competitors and assessment
Company assessmentDirect peers
- R3: Enterprise blockchain/DLT platform for financial services (Corda) used by global banks for post-trade workflows. Direct competitor to Axoni, even working together on the DTCC Trade Information Warehouse re-platforming project.
- Digital Asset: Enterprise blockchain infrastructure for capital markets with its DAML smart contract language and Daml platform. Closely comparable to Axoni's combination of distributed ledger technology and a proprietary smart contract language (AxLang).
- SETL: Blockchain-based post-trade settlement infrastructure for financial markets, focused on securities and digital asset settlement. Comparable to Axoni's Veris/equity swaps post-trade processing offering (which was sold to LSEG).
Broad incumbents
- Hedera Hashgraph: Distributed ledger technology platform serving enterprise and financial services use cases including tokenization and decentralized identity. Broader DLT infrastructure peer rather than a capital-markets specialist like Axoni.
- ConsenSys: Ethereum-focused blockchain infrastructure and software provider with enterprise solutions touching financial services. Broad incumbent peer in distributed ledger infrastructure, though less capital-markets specialized than Axoni.
- Broadridge Financial Solutions: Major provider of post-trade infrastructure, securities processing, and data management for global financial institutions. Broad incumbent whose core capabilities (post-trade, reference data, reconciliation) directly overlap with the problems Axoni's HYDRA platform addresses.
- ION Group: Large provider of mission-critical capital markets, treasury, and post-trade workflow software to financial institutions. Broad incumbent competing for the same enterprise budget as Axoni's HYDRA-enabled workflow applications.
- FIS (Fidelity National Information Services): Large-scale financial technology provider whose capital markets and asset management software (including via Capco, which has partnered with Axoni) overlaps with HYDRA's enterprise data synchronization and post-trade processing capabilities.
Emerging players
- Kadena: Enterprise-focused blockchain platform with scalable DLT and smart contract infrastructure for financial applications. Emerging player in permissioned blockchain for institutions, partially overlapping with Axoni's HYDRA proposition.
- Symbiont: Enterprise distributed ledger platform for capital markets, notably powering the DTCC/CTM re-platforming efforts. Direct competitor to Axoni in applying DLT to securities finance and post-trade workflows.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Axoni social profiles
Digital presenceAxoni compliance and trust
Trust signalCompliance1 record
Axoni financial estimates
Financial estimateRevenue estimate
Valuation estimate
Axoni leadership team
Management profileNumber of profiles
Profiles11 records
Axoni funding detail
Funding detailFunding overview
Funding rounds5 records
Investors28 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Axoni M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Axoni
What does Axoni do?
Axoni develops and operates HYDRA (formerly AxCore), a real-time, automated data replication and synchronization platform that enables financial institutions to share critical trade and market data across counterparties. The platform reduces reconciliations, lowers data pipeline management costs, and minimizes operational risk in capital markets workflows such as post-trade processing, equity swaps, credit derivatives, and securities lending. The company also builds trade workflow applications on top of the platform for institutional clients.
Is Axoni a public or private company?
Axoni is a private company. It is classified as venture growth investor backed and is currently operating.
When was Axoni founded?
Axoni was founded in 2013. It employs 51 to 100 people.
Where is Axoni based?
Axoni is headquartered in New York, United States, in the North America region.
How does Axoni make money?
One revenue line is on record: enterprise Software Licenses and Platform Fees.
Who are Axoni's main competitors?
Direct peers on record are R3, Digital Asset and SETL. Broad incumbents are Hedera Hashgraph, ConsenSys, Broadridge Financial Solutions, ION Group and FIS (Fidelity National Information Services). Emerging players are Kadena and Symbiont.
Does Axoni have an API?
No public API is recorded for Axoni.