AXONI UNVEILS HYDRATM – A NEW ERA FOR REAL-TIME DATA REPLICATION IN CAPITAL MARKETS
New York, NY – September 10, 2024 – Axoni, a leading provider of trade workflow applications and real-time data replication technology, today announced the rebranding of its flagship data platform, AxCore, to “HYDRA.” This rebranding marks a significant step in Axoni’s product evolution, delivering unparalleled solutions for secure, real-time data replication across financial institutions. HYDRA is trusted by many of the world’s largest Central Counterparty Clearing Houses (CCPs) and leading sell-side and buy-side firms.
The name “HYDRA” was chosen to symbolize the platform’s ability to replicate data to various destinations from a single source. In mythology, the Hydra is a multi-headed creature known for its ability to replicate, reflecting the core strength of the HYDRA platform: the capacity to handle the most demanding data challenges in capital markets. HYDRA’s versatility allows it to support various destination datastores, including Postgres, MongoDB, Kafka, and others, whether managed within cloud platforms or on-prem environments.
Key Benefits
HYDRA offers the same robust features and benefits that have made Axoni’s platform a trusted name in capital markets, including:
• Real-Time Data Replication: HYDRA enables secure, real-time data replication across firms and destinations, eliminating delays and inaccuracies associated with traditional batch processes.
• Unparalleled Flexibility: HYDRA supports diverse destination databases—MongoDB, Postgres, Kafka, and cloud services—ensuring seamless data integration wherever needed. We’re continually expanding the range of supported source and destination databases.
• Enterprise-Grade Security and Privacy: HYDRA ensures maximum privacy and control by replicating data directly between the source and consumer, avoiding third-party intermediaries (including Axoni), crucial in today’s cybersecurity-focused environment.
• Built-in Reliability: HYDRA guarantees data completeness and accuracy, ensuring precise replication essential for regulatory compliance and decision-making.
Greg Schvey, CEO of Axoni, said, “As financial firms continue to grapple with data coordination challenges, we remain steadfast in our mission to address this prolific issue that costs firms billions of dollars every year. HYDRA brings real-time replication to the world’s most critical data, enabling operational efficiency across capital markets and beyond.”
Forthcoming Coalition Greenwich research, conducted in collaboration with Axoni, revealed significant challenges in data sharing within capital markets. Given the widespread reliance on legacy methods such as email and SFTP for sharing critical trade and post-trade data, 90% of Tier 1 firms reported that batch processes are problematic, citing inefficiencies and operational risks. The survey also found that 85% of firms prioritize keeping their data inaccessible to third-party vendors, underscoring the need for secure, private data sharing tools. HYDRA was designed specifically to address these issues, providing a real-time, flexible, and secure alternative that eliminates the need for outdated, error-prone methods. Stay tuned for the complete report.
For more information on HYDRA, click here.
About Axoni
Axoni is a technology company specializing in coordination of data between institutions. Axoni’s HYDRA platform enables rapid deployment of critical financial networks and automated, real-time data replication across market participants. Founded in 2017, the company serves banks, asset managers, hedge funds, and financial market infrastructure firms across the globe from offices in New York and London. For more, visit www.axoni.com.
