< The 2016 Tech 50

There is only so much financial or performance information that a privately held company like Axioma will publicly disclose, but the momentum it is building as a global supplier of portfolio optimization and risk management software is transparent enough. New York–based Axioma’s workforce has nearly doubled in a year, to 200, says CEO Sebastián Ceria. That includes high-profile hires like CFO Amaury Dauge, who previously held that title at Euronext, and Standard & Poor’s veterans William Morokoff and Sunil Rajan to head research and the EMEA region, respectively. Axioma also added 20 from the recent acquisition of regulatory- and risk-reporting businesses from fund servicer ConceptONE, which Ceria considers a natural extension of the multiasset, enterprisewide Axioma Risk platform. The latter, after a proof-of-concept and showcase installation with Sweden’s Skandinaviska Enskilda Banken, announced last year, “is currently being implemented or evaluated by the largest asset management firms on earth,” Ceria boasts. A win announced in May: Bank of New York Mellon Corp. managed-accounts subsidiary HedgeMark International. “These organizations don’t change risk systems very often because it is very hard to do,” says the 51-year old, who founded Axioma as a consulting firm in 1998 and started selling optimization software three years later. “They understand and have the wherewithal to look at the next generation.” Axioma muscled its way into the risk-and-analytics niche — a stronghold of BlackRock Solutions, IBM Analytics (formerly Algorithmics) and MSCI — by aggressively developing and deploying cloud technology with partner Microsoft Corp. Longtime incumbents are hard-pressed to match the agility, flexible costs and capacity of cloud computing, Ceria says, adding: “We wouldn’t be able to do what we do without the cloud. We are harvesting results of some very hard work” and significant capital investments over the past five years. “Just moving an existing system into the cloud has limited benefit,” he advises. “To get full advantage, our enterprise risk system needed to be built from scratch — truly born in the cloud.”

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The 2016 Tech 50

1. Catherine Bessant Bank of America Corp. 2. Jeffrey Sprecher Intercontinental Exchange 3. Lance Uggla Markit Private Markets Investment Outlook Q2 2025: Opportunities Amid Uncertainty Sponsored by Schroders Capital May 1, 2025 4. Phupinder Gill CME Group 5. Shawn Edwards and Vlad Kliatchko Bloomberg 6. R. Martin Chavez Goldman Sachs Group

7. Robert Goldstein BlackRock 8. Adena Friedman Nasdaq 9. Deborah Hopkins Citi Ventures 10. Daniel Coleman KCG Holdings 11. Stephen Neff Fidelity Investments 12. David Craig Thomson Reuters

13. Michael Spencer ICAP 14. Michael Bodson Depository Trust & Clearing Corp. 15. Charles Li Hong Kong Exchanges and Clearing 16. Chris Concannon BATS Global Markets 17. Blythe Masters Digital Asset Holdings 18. David Rutter R3CEV

19. Neil Katz D.E. Shaw & Co. 20. Lee Olesky Tradeweb Markets 21. Richard McVey MarketAxess Holdings 22. Seth Merrin Liquidnet Holdings 23. Robert Alexander Capital One Financial Corp. 24. Brad Katsuyama IEX Group

25. Antoine Shagoury State Street Corp. 26. David Gledhill DBS Bank 27. Lou Eccleston TMX Group 28. Andreas Preuss Deutsche BÖrse 29. Dan Schulman PayPal Holdings 30. Scott Dillon Wells Fargo & Co.

31. Mike Chinn S&P Global Market Intelligence 32. Craig Donohue Options Clearing Corp. 33. Gary Norcross Fidelity National Information Services 34. Steven O'Hanlon Numerix 35. Sebastián Ceria Axioma 36. Michael Cooper BT Radianz

37. Tyler Kim MaplesFS 38. Neal Pawar AQR Capital Management 39. David Harding Winton Capital Management 40. Chris Corrado London Stock Exchange Group 41. Brian Conlon First Derivatives 42. Jim Minnick eVestment

43. Stephane Dubois Xignite 44. Mazy Dar OpenFin 45. Yasuki Okai NRI Holdings America 46. Kim Fournais Saxo Bank 47. Jock Percy Perseus 48. Robert Schifellite Broadridge Financial Solutions

49. Brian Sentance Xenomorph Software 50. Pieter van der Does Adyen