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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.
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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
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