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Axoni announced the sale of its Veris post-trade processing business and related intellectual property to the London Stock Exchange Group (LSEG), a global provider of financial markets data and infrastructure. The transaction remains subject to closing conditions and is expected to complete in Q4 2024. Axoni built and operates the Veris network, a post-trade reconciliation and lifecycle management platform for equity swaps.
Greg Schvey, CEO, Axoni, said, "This acquisition represents a significant step forward in our efforts to modernize OTC derivative post-trade infrastructure. In recent years, we've partnered closely with LSEG to develop our trade processing applications and are confident they are the right party to help realize its growth potential."
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