Founded: March 2016
Founders: Greg Schvey and Jeff Schvey
Customers/Partners: ICAP, Bank of America Merrill Lynch, Citi, Credit Suisse, J.P. Morgan), The Depository Trust & Clearing Corporation (DTCC), and Markit
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.
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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