Trending...
- ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Arbor Realty Trust, Inc. Investors to Inquire About Securities Class Action Investigation – ABR
- Maybesoon Drops New Music Video for "Hill Street."
- Neurocrine Biosciences to Host Analyst Day on December 5, 2023
NEW YORK ~ Today, OneChronos, a technology company leveraging advances in auction theory and artificial intelligence to optimize financial markets, announced the completion of its Series B investment round of $40 million. The financing was led by Addition.
OneChronos operates Smart Market periodic auctions at the speed, scale, and resiliency required of the most demanding electronic capital markets. Since its launch in Q3 2022, the company has facilitated more than $60 billion in institutional securities transactions with volumes growing more than 35% month over month. This growth has been driven by strong execution performance as evaluated by OneChronos' network of over 45 banks, brokers, and dealers servicing thousands of asset managers for their electronic trading needs.
The funds raised will help OneChronos expand to new markets and launch new products that allow additional strategy-level constraints within auctions. This will unlock mutually beneficial trading opportunities missed by legacy auction and market formats while further enhancing potential execution quality of trading algorithms and workflows.
More on Nyenta.com
Andrew Miskiewicz, Investor at Addition commented on the investment saying "OneChronos has clearly demonstrated the execution quality advantage of its product in a highly competitive and established market. We look forward to supporting the OneChronos team as they continue solving the unique challenges of operating high-speed Smart Markets, positioning them as the industry leader."
Smart Markets have been used in other industries but their use in capital markets requires unprecedented speed, scale, and resiliency. To meet these unique needs OneChronos applies state-of-the-art computer engineering, AI/ML approaches, mechanism design, and operations research to capital markets.
Kelly Littlepage, Chief Executive Officer and Founder of OneChronos said "We founded OneChronos as a team of institutional investors, traders, and technologists with a deep appreciation for the cost and complexity of institutional trading and the staggering investment returns lost to market friction...We're incredibly excited to partner with Addition in our journey to change that, and grow the global GDP by helping institutions better optimize their investment objectives."
Today's announcement marks an important milestone for OneChronos as they continue their mission to optimize financial markets through advances in auction theory and artificial intelligence.
OneChronos operates Smart Market periodic auctions at the speed, scale, and resiliency required of the most demanding electronic capital markets. Since its launch in Q3 2022, the company has facilitated more than $60 billion in institutional securities transactions with volumes growing more than 35% month over month. This growth has been driven by strong execution performance as evaluated by OneChronos' network of over 45 banks, brokers, and dealers servicing thousands of asset managers for their electronic trading needs.
The funds raised will help OneChronos expand to new markets and launch new products that allow additional strategy-level constraints within auctions. This will unlock mutually beneficial trading opportunities missed by legacy auction and market formats while further enhancing potential execution quality of trading algorithms and workflows.
More on Nyenta.com
- Empowering Voices: Houston's Black Authors Illuminate the Blockchain World with 'Chain Reaction'
- Bit Digital, Inc. Announces Monthly Production Update for November 2023
- Morgan Stanley China A Share Fund, Inc. Declares a Dividend
- Barker, Pasha and Vokac receive prestigious 54th annual USS Admiral of the Ocean Sea Awards
- New Rochelle: Free 2 Hour Holiday Parking December 1-31
Andrew Miskiewicz, Investor at Addition commented on the investment saying "OneChronos has clearly demonstrated the execution quality advantage of its product in a highly competitive and established market. We look forward to supporting the OneChronos team as they continue solving the unique challenges of operating high-speed Smart Markets, positioning them as the industry leader."
Smart Markets have been used in other industries but their use in capital markets requires unprecedented speed, scale, and resiliency. To meet these unique needs OneChronos applies state-of-the-art computer engineering, AI/ML approaches, mechanism design, and operations research to capital markets.
Kelly Littlepage, Chief Executive Officer and Founder of OneChronos said "We founded OneChronos as a team of institutional investors, traders, and technologists with a deep appreciation for the cost and complexity of institutional trading and the staggering investment returns lost to market friction...We're incredibly excited to partner with Addition in our journey to change that, and grow the global GDP by helping institutions better optimize their investment objectives."
Today's announcement marks an important milestone for OneChronos as they continue their mission to optimize financial markets through advances in auction theory and artificial intelligence.
Filed Under: Business
0 Comments
Latest on Nyenta.com
- Financial Literacy Advocate Jim Silbernagel Selected to Appear on Spotlight Television
- The Five Pillars of Success Pillar One Strengths Outlined by Rosann Santos CPC
- Pitch Black Appoints New Chief People Officer
- Soundcore Capital Partners Announces Sale of PumpMan
- Emmy Award Winning Journalist Joins Prominent Haddonfield Real Estate Agency
- Avolar Pets Introduces Exclusive Shared Private Jet Service For Pets & Their Owners
- Environmental Noise Control, Inc. Products Now Featured on New York Department of Environmental Protection's Approved List
- G-III Apparel Group Appoints Dana Perlman as its New Chief Growth and Operations Officer
- Founder Brings Inaugural Event To Braselton Georgia At Legendary Resort and Winery
- The Importance of Vacations and Expert Tips for Planning
- Biochips Market size is set to grow by USD 43.27 billion from 2022 to 2027 | North America is estimated to account for 41% of the market growth - Technavio
- UE Systems, the Leader in Ultrasonic Detection Instruments and Solutions, Revolutionizes Bearing Maintenance with the Launch of OnTrak Wireless
- HBCUs Among Groups Heading to The Bahamas for Track & Field Competition in March 2024
- Noble World Foundation Proposes UN Security Council Reform to Foster Global Peace
- Only 20% of companies globally are meeting their carbon reduction targets, and many acknowledge need for "complete transformation," according to ENGIE Impact report USA - English Deutschland - Deutsch
- Rochester: City, USDA Wildlife Services to Disperse Winter Crows
- Pritchard Industries Acquires ACP Facility Services
- KBRA Named Ratings Agency Of The Year at Second Annual SFR Industry Awards
- Coming Up On Fox Business Financial Industry Legend Tom Hegna
- The Museum at FIT Presents Statement Sleeves