OneChronos’ Smart Market uses mathematical optimization, powered by Gurobi, to better meet the needs of today’s traders.
Gurobi Optimization, LLC, the leader in decision intelligence technology, now supports the innovative work of OneChronos, a U.S. equities alternative trading system designed to address the deficiencies in how traditional execution venues match orders, as well as the execution quality demands of the institutional trading and investing community.
Using mathematical optimization to power their combinatorial auction format, which traces its roots to the 2020 Nobel Memorial Prize in Economic Sciences, OneChronos can match counterparties more efficiently than the more traditional price-time priority exchange-matching method.
Until recently, these innovative market structures have only existed on a small, experimental scale. But OneChronos is breaking the status quo by bringing their Smart Market up to the speed and scale required by the institutional trading community that makes up the U.S. equities marketplace.
“Around 2016, my co-founders and I began to see the shifts that were happening with electronic trading, and how you could use machine learning to accelerate the solving time for these challenging combinatorial optimization problems. And that’s where we started working full-time to develop OneChronos,” explains Kelly Littlepage, Founder and CEO of OneChronos.
With Gurobi enhancing their optimization engine, OneChronos is able to sustain a high level of performance that delivers significant improvements for their clients over other methods.
“Our subscribers, who are broker-dealers representing their clients’ trading interests, are having a very good experience trading on the venue, which is why we continue to grow. And it’s really the power of our mathematical optimization and the approach we take to market design that’s driving the good experience folks are having,” says Littlepage.
Gurobi is proud to support the work of OneChronos, which has made electronic execution of U.S. equities more simple, transparent, and efficient for institutional investors and traders.
“It’s been very satisfying to see how far OneChronos has come from their early combinatorial auction work and research, which was also done with Gurobi,” says Duke Perrucci, Gurobi CEO. “Their ‘Smart Market’ methods represent the future of exchange auction techniques.”
To learn more about how Gurobi has helped OneChronos break the status quo of electronic exchange order matching, read the full OneChronos case study.
About Gurobi Optimization
With Gurobi’s decision intelligence technology, customers can make optimal business decisions in seconds. From workforce scheduling and portfolio optimization to supply chain design and everything in between, Gurobi identifies the optimal solution, out of trillions of possibilities.
As the leader in decision intelligence, Gurobi delivers easy-to-integrate, full-featured software and best-in-class support, with an industry-leading 98% customer satisfaction rating.
Founded in 2008, Gurobi has operations in the Americas, Europe, and Asia. It serves customers in nearly all industries, including organizations like SAP, Air France, and the National Football League. For more information, please visit https://www.gurobi.com/ or call +1 713 871 9341.
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Contacts
Kaelyn Barron
(909) 359 4782
Gurobi Optimization
kaelyn.barron@gurobi.com
