Our Investment In A Fair, Intelligent, and Customizable Alternative Trading System – OneChronos, The Smart Market for Institutional Investors

By Brent MacDonald – Principal at Rising Tide

NYSE, NYSE American, NYSE Arca, and NYSE National Now Route Directed Orders to OneChronos ATS

OneChronos is an Alternative Trading System (ATS) for U.S. equity markets created from the ground up to fundamentally solve the widening gap between the way trading venues e.g. NASDAQ match orders and the way dealers must execute. The U.S. alone sees daily stock trades of around $250 Billion (WSJ). Clients of OneChronos have the option to trade on a Portfolio Level, which drastically lowers the costs and complexity of trading compared to typical venues that use constrained order books and require participants to trade on a Stock Level. Instead of the low-latency infrastructure that High-Frequency Traders (HFT) spend millions of dollars on, the OneChronos software uses atomic clocks. Better order fills and more precise transactions result from traders using the code-running capabilities and effective auctions of the OneChronos exchange. Additionally, OneChronos does not allow conditional orders and does not provide data feeds, protecting participant information and reducing data leakage. In addition, OneChronos is able to optimize every auction using its own machine learning and reinforcement learning technology, enhancing outcomes and continuously striving for the best price result.

OneChronos today is setting up points of presence (POPs) around the world for order entry and market data delivery. High-precision timestamping is used in its distributed systems IP and order entry paradigm to make the competition over network paths, proximity, and market data handling irrelevant. This also makes it possible to trade in combination across all regions and asset classes. The opportunity for the Company is even larger when considering that the technology can bring similar improvements to other financial markets such as foreign exchange, derivatives, and futures trading. Additionally, utilizing their current pipelines to the New York Stock Exchange (NYSE), any subscriber to the NYSE can trade on OneChronos at no additional cost.

BMO, Jefferies Financial Group, and more than a dozen other broker-dealers signed onto the OneChronos platform over the past few months, more here. The founders of the Company have substantial experience in quantitative trading from their positions at Goldman Sachs, Merrill Lynch, Accenture Consulting, and Crabel Capital Management.

OneChronos, a Y Combinator alumnus, has raised over $10 Million in financing. The Company is investing the money in expansion efforts so that its technology may be applied to more areas and asset classes. Rising Tide is pleased to have been an early investor in this ground-breaking auction-matching technology, having made its first initial investment in OneChronos in September 2016.

 

Finally, A Financial Exchange that Significantly Lower Trading Costs and Complexity!

See OneChronos film here: click ‘Watch Video’