The London Stock Exchange Group (LSEG) has acquired Veris’ post-trade processing business and associated intellectual property from Axoni. Financial details were not disclosed.
This content was selected, created and edited by the Finextra editorial team based on its relevance and interest to our community.
Developed and operated by Axoni, the Veris Network is a post-trade voting and lifecycle management platform for equity swaps used by banks and asset managers.
The platform is designed to streamline the post-trade data reconciliation process and prevent cash flow disruptions by enabling counterparties to exchange and exchange data related to equity swaps, positions, trades and associated cash flows throughout the post-trade lifecycle compare.
Following the sale – subject to closing conditions – LSEG will own and operate the network after a transition period. Additional software to support post-trade processing in other derivative asset classes will also be transferred.
Greg Schvey, CEO of Axoni, says: “Over the past few years, we have worked closely with LSEG to develop our trade processing applications and believe they are the right partner to realize their growth potential.”
Banks in Singapore will gradually implement Singpass Face Verification (SFV) over the next three months…
Indian digital lending app mPokket will hire 5,000 new employees in the coming year, more…
Following the collapse of fintech company Synapse, a US regulator has unveiled plans to tighten…
Ahead of Sustainable Finance.Live 2024, Richard Peers, founder of Responsible Risk, discusses the event's focus…
British lender Metro Bank is cutting around 300 jobs and asking Infosys for an IT…
The Commonwealth Bank of Australia has partnered with Amazon Web Services to launch an internal…
This website uses cookies.