Trending...
- Double the Terror: NYC Halloween Film Festival Returns With Two Nights of Frights
- Max Tucci launches The Osborn Fall WellSpring Series, October 10th, 2024 Rye, New York
- Two Nights of Frights: NYC Halloween Film Festival Returns with a Vengeance
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
- New Rochelle: Main Street Overnight Paving Begins October 9
- One Of The Largest Native American Burial Sites In The United States Moves A Step Closer To National Recognition
- InventHelp Inventor Develops New Repair Accessory for Footed Pajamas (LJD-401)
- Cummings Graduate Institute for Behavioral Health Studies Announces New Book: Integrated Behavioral Health: Applying the Biodyne Mindset in Healthcare
- SureFlow to Showcase AI and Eco-Technology Energy Management Solutions at GITEX 2024
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
- Local SF Conservatory Pre-College Student Selected to Perform at Carnegie Hall
- Origination of Prince Oak's new alias and reasons of his change — the Eurasian Prince's newest nominal label is "Papa Eurasia"
- Rochester: City's Urban Forest Master Plan wins APA Award
- New Rochelle: Attempted Robbery on Franklin Avenue – Investigation Ongoing
- New Rochelle: NR Youth Bureau -Healthy Bites Program
- Subprime Auto Market 2025 Outlook
- RIV Capital and Cansortium Receive New York State Cannabis Control Board Approval for Change of Control
- Rochester: City Hall, Other Administrative Offices to Close Monday, Oct. 14 in Observance of Indigenous Peoples' Day
- Anaptyx Selected Top Wireless Internet Service Provider (WISP) 2024
- The City Tutors Welcomes Brad Timmers as New Chief Technology Officer to Drive Tech Innovation
- Farther Secures $72 Million Series C from CapitalG and Viewpoint Ventures to Continue Revolutionizing Wealth Management
- Bug Busters Celebrates 40 Years in the Pest Control Industry
- Invenio IT Partners with Vonahi Security to Offer Automated Network Penetration Testing for Enhanced Security
- Rochester: Final International Plaza Market Sunday to Feature Hispanic Heritage Month Celebration
- National Minority Health Association and Cell-Ed Announce Upcoming Webinar: Empowering Caregivers Through Innovative Training Programs
- After 300 miles of New York City driving, AMCI Testing's latest evaluation of Tesla FSD ( Supervised) demonstrates it is clearly not capable of self-driven taxi duty
- SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Investigates the Mergers of PWUP and ESGR
- EFLOW FX Pioneers Tokenized Real Estate for Greater Accessibility and Growth
- Rochester: Statement by Mayor Malik D. Evans Regarding Walgreens Store Closures
- Free 6-Month Premium Matrimonial Membership Now Available on IndoMarry.com