Axoni » BLOCKCHAIN DIRECTORY

CHAIN-FINANCE is conducting an on-going survey on the use of blockchain or distributed ledger technologies in the financial services industry. The following directory highlights the companies, organizations and projects in the “Blockchain in Finance” ecosystem, the technology they have developed or provided, and the customers or partners that they are currently working with.

Axoni

Home 79 Madison Ave, Fl 5 New York NY 10016 Website: http://www.axoni.com

Notes

Founded: March 2016

Founders: Greg Schvey and Jeff Schvey

Technology:

Customers/Partners: ICAP, Bank of America Merrill Lynch, Citi, Credit Suisse, J.P. Morgan), The Depository Trust & Clearing Corporation (DTCC), and Markit

Description:

The founders of Tradeblock, a company providing cryptocurrency trading execution and analysis tools, established Axoni as a separate venture focused on provision of permissioned blockchain technology.

Axoni in March 2016 assisted ICAP’s Post Trade Risk and Information division (PTRI) in testing a private, peer-to-peer, distributed ledger network using smart contracts.

On April 7, 2016, Axoni announced that it had completed a blockchain test involving four global financial institutions (Bank of America Merrill Lynch, Citi, Credit Suisse, J.P. Morgan), The Depository Trust & Clearing Corporation (DTCC) and Markit. Over the course of the multi-month project, the group established a blockchain trade processing network across a blend of hosted and locally-installed deployments of Axoni software.

Credit default swap (CDS) transactions were selected as the basis for this initial test case due to the variety of lifecycle events which apply, as well as the availability of an efficiency benchmark established by the DTCC Trade Information Warehouse (TIW), the global market standard for post-trade asset servicing of credit derivatives.

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