28Stone Consulting

What 28Stone Consulting does

28Stone Consulting is a privately held, New York-headquartered software consulting firm founded in 2011 that exclusively serves the global capital markets industry, building custom trading, market data, and post-trade systems for sell-side institutions, buy-side firms, market venues, and interdealer brokers. Its core technology stack centers on event-driven architecture using Solace PubSub+ for low-latency messaging, OpenFin (Here) and Cloud9 for workspace and voice trading, with cloud-native implementations on Google Cloud, Azure, and AWS — including benchmarked sub-2 microsecond tick-to-trade latency on Google Cloud C3 and C4 instances using kernel bypass, hardware offloading, and core pinning. The firm has codified several proprietary assets: the 28Stone Playbook delivery framework, the AI-First SDLC Maturity Model (with Level 4 Agentic in production), the 28Stone Squads cross-functional team model, and a Solace-native trading platform reference architecture. Its product surface includes a Lithos Labs demo suite (Lithos CueAI for generative AI-driven market color, Lithos StormCloud for voice broker workflows, Lithos RFQ, Lithos TradePool, Lithos Volume Matching, and Lithos Syndicated Loan Deal Room) plus client-delivered platforms such as a CLOB for US Treasuries, an FX options CLOB/RFQ platform, and the Atlas ETF and index data platform (built with Ultumus/SIX Group).

The business operates a project-based professional services model, generating revenue through consulting engagements for advisory, architecture, custom development, system integration, DevOps, and QA services, with pricing determined per engagement rather than via published rate cards. The firm employs approximately 200 developers, operates a RightShore delivery model from offices in New York (headquarters), London (European operations), and Riga (offshore delivery center), and has been bootstrapped with no external funding rounds disclosed. Strategic technology partnerships with Google Cloud (Partner Advantage SI), Solace, Cloud9, Here (OpenFin), and EY serve as primary go-to-market channels alongside direct enterprise sales led by a Global Head of Business Development. Customer logos include Tradeweb, TP ICAP, Broadridge, MarketAxess, BGC Partners, FIA Tech, Traiana, Charles River Development, Marex, and others representing 200+ global financial institutions.

Name

28Stone Consulting

Legal name

28Stone Consulting, Inc.

Website

https://28stone.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

101–250 employees

Short description

28Stone Consulting is a privately held, New York-based software consultancy founded in 2011 that builds custom trading, market data, and post-trade systems exclusively for the global capital markets industry, serving 200+ financial institutions via offices in the US, UK, and Latvia.

Ownership category

akta.pro rank

Product category

Capital Markets Software Consulting

NAICS

Management Consulting Services (54161)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Corporate Finance & Capital Advisory (BPAHADAB)

akta.pro secondary industry

Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Capital markets consulting
• Custom software development
• Electronic trading platforms
• Legacy modernization services
• Cloud migration consulting

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Revenue model

1. Software Consulting and Professional Services: 28Stone generates revenue through custom software development consulting for the financial services industry, including advisory, architecture, solution design and implementation, system integration, DevOps, QA, and continuous support services. Revenue is project-based, typically structured through engagement contracts with financial institutions.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

28Stone Consulting is a software development and consulting firm that builds custom technology solutions for the capital markets industry. The firm specializes in developing electronic and hybrid trading platforms, modernizing legacy trading systems, and migrating capital markets infrastructure to cloud platforms (Google Cloud, AWS, Azure). It also delivers data analytics, business intelligence, and AI/ML-integrated solutions for sell-side, buy-side, market venues, and interdealer broker clients.

Product overview

28Stone Consulting is a software consulting company that develops custom software for the financial services industry, specializing in capital markets. Their offerings consist of demo projects in their Lithos Labs innovation hub and client-specific implementations. The Lithos product line includes Lithos CueAI (generative AI for market makers), Lithos StormCloud (voice broker solution), Lithos Volume Matching (session aggregator), Lithos RFQ, Lithos TradePool, and Lithos Syndicated Loan Deal Room. Client projects include CLOB trading platforms, CLOB & RFQ platforms for FX options, and book building platforms for debt capital markets. Additionally, 28Stone partnered with Ultumus to develop the Atlas ETF and Index Data Platform.

Differentiator

Problem solved

Functional benefit

Brands

• Lithos: Lithos is a suite of demo projects and applications built by 28Stone, including Lithos CueAI (generative AI for sell side market makers), Lithos StormCloud (voice trading solution), Lithos RFQ, Lithos TradePool, Lithos Volume Matching, and Lithos Syndicated Loan Deal Room (SLDR).
• Lithos CueAI
• Lithos StormCloud
• Lithos RFQ
• Lithos TradePool
• Lithos Volume Matching
• Lithos Syndicated Loan Deal Room (SLDR)
• 28Stone Playbook

Products and services

• Custom Software Development for Capital Markets

Quantifiable outcome

• 3-5x throughput improvement at AI-First SDLC Level 4 (Agentic Development) compared to traditional agile teams
• +6 more outcomes

Named customers17 records

Segments5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability3 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core.

• Ultumus (owned by SIX Group)coreStrategic or Co-development Partner · 18 February 2026Ultumus partnered with 28Stone to launch Atlas, a next-generation platform for comprehensive ETF and index data coverage. The platform delivers faster ETF data views, quick index rebalance calculations, improved dividend data, consistent FX handling, and enhanced search functionality. The partnership combined Ultumus' deep ETF domain expertise with 28Stone's modern capital markets technology capabilities to establish a continuous delivery model for the platform.
• Google Cloud (C3/C4 Benchmarking)coreTechnology or Integration · 22 September 202528Stone partnered with Google Cloud to benchmark tick-to-trade latency on Google Cloud C3 and C4 machine types. Results showed sub-2 microsecond tick-to-trade latency on C3 machines with cloud-native networking. Google Cloud's general manager and managing director of Financial Services stated that 28Stone's expertise in capital markets trading workflows was instrumental in developing use cases and technology for the benchmark study.
• Google CloudcoreImplementation/ SI/ Consulting Partner · 7 March 202428Stone joined Google Cloud Partner Advantage as a systems integrator to provide consulting services. This partnership enables 28Stone to help capital markets organizations expand their cloud offerings, migrate existing solutions to Google Cloud, and leverage expertise in on-prem to cloud migration, hybrid cloud architectures, cloud-native adoption, and re-engineering. 28Stone has published benchmark studies on Google Cloud C3 and C4 machine types for ultra-low-latency trading.
• Cloud9 TechnologiescoreTechnology or Integration · 4 June 2020Cloud9 and 28Stone partnered to enable the institutional trading community to efficiently implement and customize Cloud9's cloud-based voice trading solutions. 28Stone's extensive experience in trading system delivery and systems integration allows the institutional community to rapidly deploy Cloud9's API offerings for unlimited access to voice metadata and information. The partnership allows front to back office individuals to seamlessly integrate and customize tools to connect to counterparties.
• Here (formerly OpenFin)coreTechnology or Integration · 1 January 201528Stone and Here (formerly OpenFin) have been partners since 2015, bringing 28Stone's application development services together with OpenFin technology. OpenFin is the financial industry's operating system enabling rapid and secure deployment, native experience, and desktop interoperability. 28Stone has a track record of successful delivery of various OpenFin solutions including trading solutions, AI tools, and buy-side tools.
• SolacecoreTechnology or Integration28Stone has been a long-time partner with Solace, whose PubSub+ solution provides performance, deployment flexibility, and breadth of features. 28Stone has delivered multiple systems based on Solace-native architecture blueprint supporting different asset classes and trading modalities. The Solace PubSub+ platform enables reliable, low latency, scalable, and secure messaging.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Genpact: Large professional services firm with deep capital markets and banking technology offerings spanning consulting, AI, and operations; broader and more diversified than 28Stone but competes for similar transformation mandates.
• Accenture (Financial Services): Global consultancy with a sizeable capital markets technology practice delivering cloud migrations, platform engineering, and AI programs. Competes with 28Stone for large transformation engagements despite broader scope.
• Cognizant: Global IT services firm with a dedicated Financial Services practice providing custom software, cloud, and consulting services to banks, brokerages, and capital markets infrastructure providers.
• Deloitte (Financial Services Technology): Big Four advisory firm with capital markets technology consulting and implementation capabilities competing for large-scale trading platform, risk, and regulatory programs alongside specialist SIs like 28Stone.

Regional players

• Mphasis: India-headquartered IT services firm with financial services focus, primarily serving North American and European banking and capital markets clients via offshore delivery; competes on cost for similar trading-platform and modernization work.

Direct peers

• EPAM Systems: Large IT and digital engineering services provider with a significant financial services vertical delivering custom platforms, cloud migration, and low-latency systems for capital markets clients.
• Thoughtworks: Global technology consultancy providing custom software engineering, modernization, and platform development with a sizable financial services practice serving capital markets participants.
• Capco: Global technology and management consultancy wholly focused on financial services including capital markets, banking, and trading infrastructure. Directly comparable client base and consulting-plus-software delivery model.
• Endava: Technology services firm with a strong capital markets and financial services practice, combining nearshore/offshore delivery with custom software development for trading and asset management clients.
• Synechron: Global digital transformation consulting firm exclusively focused on financial services and capital markets with similar onshore/offshore delivery model. Direct competitor for sell-side, buy-side, and exchange technology engagements.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/28stone-consulting-inc-
• Instagraminstagram.com/28stoneinc
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Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 28Stone Consulting