Alternative trading system (ATS) OneChronos has been approved as a regulated UK entity by the Financial Conduct Authority (FCA).
The company, which has recently become one of the US’s top ten equities venues in FINRA rankings, will launch its multilateral trading facility (MTF) in the country, putting it in competition with established players such as Aquis, CBOE Europe and Liquidnet.
The Smart Market periodic auctions model matches counterparties based on price, size and trader objectives – but not speed.
Scott Bradley, CEO of OneChronos Markets UK, stated, “This milestone reflects our commitment to bringing a fundamental innovation to trading venue operations, aligning execution outcomes more closely with participants’ objectives and improving overall market efficiency.”
The news follows OneChronos’ launch in Japan earlier this year. The firm is also planning on European regulatory approval too, it has confirmed, with a regional base in Amsterdam.
