New ATS OneChronos readies first AI-powered smart market trading solution
OneChronos is to launch a new AI-powered dark pool/alternative trading system designed to provide fully customisable solutions for traders who want to minimise information leakage and maximise opportunities for price improvement.
The OneChronos team is gearing up to launch what will be the first “smart market” ATS solution for equities trading, powered by combinatorial auctions, which allow participants to input a number of parameters around their orders, seeking truer outcomes while mitigating many of the issues that have long frustrated traders using more traditional approaches.
For example, unlike a traditional venue, which uses limit order books and forces participants to trade on a stock-level, users of OneChronos can trade on a portfolio level. Put simply, one example might be “I will buy stock A only if I can also sell stock B” with various additional inputs around each trade.
“Through a smart market like what we have created with OneChronos, traders can solve for the major drawbacks inherent in the traditional auction/exchange structure,” says Kelly Littlepage, co-founder of OneChronos. “We do not provide data feeds and do not allow conditional orders, securing participant information and minimising data leakage; additionally, through the use of our proprietary machine learning and reinforcement learning technology, we are able to optimise every auction, improving outcomes and constantly working to achieve the best price result.
“Our approach is also fully customizable,” adds Littlepage, “meaning participants have the flexibility to leverage our solution in ways that solve for their biggest problems.”