OneChronos, the technology company leveraging advances in auction theory and computer science to optimize financial markets, announced $32 million in expansion capital, as it bolsters its foothold in core business segments and grows into new markets. Addition led the financing.

OneChronos operates Smart Markets that optimizes for institutional measures of trade quality through sophisticated matching technology. Its first market, OneChronos ATS, the fastest-growing off-exchange U.S. equities trading venue, has facilitated an average of more than $4.5 billion in daily trading volume for the month of November. That success reflects OneChronos’ strong execution performance, including its ability to operate at the speed and scale the most demanding electronic capital markets require.

The fresh funding will accelerate OneChronos’ growth in existing markets and expansion into new ones, where current trading mechanisms leave significant value untapped. Building on its proven technology in equities, the company plans to launch new Smart Markets for other asset classes and geographies, while also exploring opportunities beyond traditional capital markets where its matching technology can drive new efficiencies.

“This funding validates our team’s progress in traditional capital markets and will help us achieve our vision of leveraging advances in market design and AI to find trade efficiencies that grow the global economy,” said Kelly Littlepage, Chief Executive Officer and Co-founder of OneChronos. “We’ve demonstrated how Smart Markets can transform trading in equities. Now we’re ready to bring these same innovations to other markets where traditional trading mechanisms leave significant value on the table.”

OneChronos stands alone in its application of combinatorial auctions to capital markets, matching orders in a multilateral auction designed to drive mutually beneficial outcomes and optimize for industry standard measures of trade execution quality. The company’s Smart Market technology solves unprecedented technical challenges that come with operating a combinatorial auction at the speed and scale of capital markets, running sophisticated optimization algorithms within milliseconds to unlock trading opportunities missed by legacy market formats.

“OneChronos has shown remarkable growth in traditional capital markets, and with this additional funding, we believe the company will be able to expand into new markets where significant value can be generated,” said Andrew Miskiewicz of Addition. “We’re pleased to continue our support for the business as it looks to expand into new asset classes.”

Since its launch in 2022, OneChronos has facilitated more than $500 billion in institutional securities transactions, with average daily trading volumes growing to more than 550% of November 2023 average daily volume. The platform’s seamless integration with existing market structure has driven rapid adoption, enabling firms to easily access enhanced execution capabilities through their current workflows. The company continues to see strong month-over-month volume growth as more institutional clients connect and increase usage.

Source: OneChronos