Axoni

Check out the latest interview from our client OCC's Head of Securities Finance, Oberon Knapp, CFA, as he talks about its next-generation platform, Ovation, that offers near real-time clearing and enriched data services for members, combined with the resiliency of cloud-based architecture. Knapp explains the benefits of the securities lending system: ✔️ Harmonized workflows across loan programs ✔️ Ability to adopt a node that provides member firms real-time insight into all their clearing activity, unlocking the potential of new products and solutions powered by timely, clean data ✔️ Accelerated time-to-market for onboarding of new applicants, new member types, and product expansions Watch the video via Securities Finance Times: https://hubs.la/Q02F7QdJ0

As a seasoned financial services and fintech leader, Senior Director, Business Lead Axoni, Gunay Aksoy, shared her perspective on how to land that dream role by designing a purpose-driven résumé emphasizing how, "outcome focused resumes make me want to come back and hear more about you." In addition to performance metrics and precise citations of technical skills, she goes on to say it is "key to bullet point your contribution within a project rather than detail it step by step, since most people omit their personal mission and what they want in their next role." Read more about top tips for writing an eye-catching résumé in this Forbes article: https://hubs.la/Q02DVzS80

Did you know that Wall Street struggles with a bad data problem? In fact, firms spend tens of billions of dollars addressing inaccurate, mismatched, or outright missing data in the systems underpinning global markets. Operations consume nearly 20% of global banks’ $1.4 trillion cumulative budgets and, according to Broadridge 30-40% of back office costs are spent on reconciliation processes. Read more about the scale of this issue in TabbFORUM: https://hubs.la/Q02C99vm0

We're thrilled to be shortlisted in 3 categories for the 2024 Data Management Insight, from A-Team Group Awards USA. Please vote for Axoni for: 💠 "Most Innovative North American Data Management Provider" 💠 "Best Sell-Side Data Management Platform" 💠 "Best Buy-Side Data Management Platform" Vote here: https://hubs.la/Q02CD0gL0

Is your firm facing challenges with post-trade reconciliation? In the second part of a three-part series, Axoni SVP of Solutions, Ishan Singh, delves into the root causes of broken data in financial markets and how inaccurate data, coupled with end-of-day reporting, leads to a backlog of reconciliations. Learn more about what's behind this multi-billion dollar bad data problem in this TabbFORUM article: https://hubs.la/Q02C9jcd0

Roughly 75% of interest rate derivatives are centrally cleared, due to a number of regulations post financial crisis (e.g. Basel III and the uncleared margin rule (UMR) requiring OTC derivatives traders to exchange initial margin (IM) and variation margins (VM) with each other). Beyond the regulatory push, recent data from Coalition Greenwich (a division of CRISIL) states that more than 80% of the buy-side market participants point to operational efficiency as an important reason to use central clearing. Participants continue to grapple with data inaccuracies and the inability to handle new trading volumes and manual processes around confirmations and reconciliations. Read more in DerivSource: https://hubs.la/Q02C3nS50

IT leaders play an important role in data management, especially as it relates to sharing data across the enterprise, known as taking a "franchise" approach. A recent survey of nearly 3,000 global enterprise leaders who work with data, found that 45% believed better data-sharing would result in faster decision-making. IT must manage and maintain the quality of data available to their organizations. Business leaders must guide IT in schema development and processes, ensuring the data structures serve the business’ decision-making needs. The more accurate, complete, accessible, and governed the data is, the greater the impact of analytics and AI. Axoni's data platform delivers an exact replica of data from the source, to enable real-time BI and analytics. Read more in Harvard Business Review: https://hubs.la/Q02Brjzl0

Data challenges were at the forefront of a recent Coalition Greenwich (a division of CRISIL) survey report, which found that nearly half of risk professionals (45%) cited aggregation of all data necessary as a top concern for managing the risk of firms' portfolios. Other top challenges in risk management processes included: ✅ Looking at multiple systems to get an overall picture of risk (39%) ✅ Complexity and manual nature of building scenarios (32%) Axoni's data platform was designed with risk professionals in mind as it was built to gain direct, real-time access to golden source data and comes with the flexibility to internalize as needed - perfect for building scenarios or performing analytics. Learn more in The TRADE News: https://hubs.la/Q02zvTRx0

What is the cost of bad data for firms in the capital markets? Operations consume nearly 20% of global banks’ $1.4 trillion cumulative budgets and, according to Broadridge, 30-40% of back-office costs are spent on reconciliation processes. Our CEO Greg Schvey discusses the multi-billion dollar impact of broken data on operations processes in this TabbFORUM article: https://hubs.la/Q02y03jM0

Congratulations to our client the Options Clearing Corporation (OCC) on 50 years! The OCC cleared a record 11.1 billion options contracts in 2023 while continuing to develop their new platform, Ovation, which will help address today's market needs while laying the groundwork for innovation. Read more in their 2023 annual report: https://hubs.la/Q02xF__W0