About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

London Stock Exchange Group Acquires Veris Post-Trade Processing Business from Axoni

Subscribe to our newsletter

Trade workflow applications and real-time data replication technology provider Axoni has agreed to sell its post-trade processing business and related intellectual property to the London Stock Exchange Group (LSEG).

Launched in 2020, Veris is a post-trade reconciliation and lifecycle management platform for equity swaps, used by leading banks and asset managers. The platform streamlines data reconciliation and prevents cash flow discrepancies by allowing counterparties to share and compare data associated with equity swap deals, positions, trades, and related cash flows.

“Axoni and LSEG have collaborated closely for many years,” Greg Schvey, CEO, Axoni, tells TradingTech Insight. “We believe LSEG is the right party to help maximise the business potential of the Veris business as they continue to develop products and services within their Post Trade Solutions business.”

Following a transition period, LSEG will take over the ownership and operation of the Veris network. The changeover will be seamless as all Veris customers will become LSEG customers, enjoying uninterrupted access to the platform, confirms Schvey. Veris customers will also continue to benefit from leveraging Axoni’s HYDRA data platform, which enables secure, real-time data replication between institutions. “There are additional market infrastructures who are implementing HYDRA currently, with more coming soon,” he says. “Axoni will continue to work with the leading institutions to help them share data in the easiest, most secure way possible.

Axoni has always been focused on solving the data coordination problem in capital markets, explains Schvey. “Historically, we’ve achieved that by partnering with large market infrastructures to help them develop new services that leverage the HYDRA platform to share data with their clients. Going forward we are increasingly licensing HYDRA to firms with existing market infrastructure systems where Axoni is not involved in the development process. We intend to expand the capabilities of HYDRA to different database types, data warehouses, cloud platforms and grow the business with additional financial services firms globally.”

The acquisition includes additional software designed to support post-trade processing for other derivative asset classes, which will boost LSEG’s post-trade capabilities following its acquisition of Acadia, a provider of derivatives margin processing and risk and optimisation services, in January last year.

The acquisition is expected to close in the fourth quarter of 2024, subject to standard closing conditions. Financial terms have not been made public.

 

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Enhancing trader efficiency with interoperability – Innovative solutions for automated and streamlined trader desktop and workflows

17 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes Traders today are expected to navigate increasingly complex markets using workflows that often lag behind the pace of change. Disconnected systems, manual processes, and fragmented user experiences create hidden inefficiencies that directly impact performance and risk management. Firms that can streamline...

BLOG

Enhancing Trader Efficiency: Interoperability, Automation, and the Path to Smarter Desktops

In the face of intensifying demands on trading desks, the pressure to streamline workflows and enhance productivity has never been greater. So how can trading firms modernise the trader desktop without creating disruption? What’s the real return on investment for low-code, no-code, and interoperability tools? And how do firms balance build-versus-buy decisions when designing next-generation...

EVENT

TradingTech Briefing New York

Our TradingTech Briefing in New York is aimed at senior-level decision makers in trading technology, electronic execution, trading architecture and offers a day packed with insight from practitioners and from innovative suppliers happy to share their experiences in dealing with the enterprise challenges facing our marketplace.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...