OneChronos, a NYC-based technology company leveraging advances in auction theory and computer science to optimize financial markets, raised $32M in funding.
The round was led by Addition.
The company intends to use the funds to accelerate its growth in existing markets and expansion into new ones.
Led by CEO Kelly Littlepage, OneChronos applies 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 optimizes for institutional measures of trade quality through sophisticated matching technology. Its first market, OneChronos ATS, is an off-exchange U.S. equities trading venue, which has facilitated an average of more than $4.5 billion in daily trading volume for the month of November.
The platform’s integration with existing market structure has driven rapid adoption, enabling firms to access enhanced execution capabilities through their current workflows.
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.
FinSMEs
19/11/2024