Beeks wins OneChronos contract following competitive review
One Chronos selected Beeks to power high performance compute and private environment of their new ATS.
- (1888PressRelease) May 17, 2023 - Beeks Group announces a collaboration with OneChronos to provide high-performance compute and private environment for their new Alternative Trading System (ATS).
OneChronos is a U.S. equities ATS designed bottom-up to fundamentally address the growing gap between how trading venues match orders and how traders need to execute.
“After a thorough review of the market, we’re thrilled to have successfully outsourced infrastructure to Beeks Group’s high- performance, modern compute capabilities”, says Iris McAtee, Head of Engineering at OneChronos. “Beeks will help us better deliver on the One Chronos value proposition, using high-performance compute to provide differentiated execution and liquidity for our members. Beeks’ flexible architecture and solutions help us develop product and deliver breakthrough smart market matching functionality to our members, faster and cheaper.”
One Chronos’ core competency is to provide disruptive, cutting-edge technology to its members to improve execution. Beeks has been selected to help power OneChronos’ breakthrough Smart Market Technology (auctions that match trades using mathematical optimization).
“2022 was a very volatile year for equities, presenting challenges in forecasting costs and having burst capacity on hand,” continued Iris. “Through Exchange Cloud, we not only had burst capacity but eliminated the long lead times of supply chains, procurement, and infrastructure in colocation.”
During the assessment and evaluation of available solutions for high-performance compute and infrastructure, OneChronos focused on two key areas; their ability to provide elastic compute in the NY5 colocation and cost implications.
OneChronos is comprised of both retail and institutional market participants including Tier 1 Banks and Beeks are poised to provide analytics to the existing suite of OneChronos solutions. The Beeks solution uniquely combines powerful analytics with flexible private cloud deployments resulting in lower operational costs and is backed by the standard Beeks 24/7 Capital Markets NOC.
Beeks is established in providing global, rapid deployment services using secure and scalable environments, without the need for long–term contracts or commitments.
“It has always been our vision to empower our clients to work with speed and agility,” explains Gordon MacArthur, CEO at Beeks Group. “Having the ability to deliver, deploy, and centralize the compute solution for both physical and cloud deployments is key to delivering a scalable and cost-effective offering.”
About One Chronos
OneChronos is a technology company at the intersection of capital markets, machine learning and mechanism design, providing innovative execution venues to those in the electronic trading world.
The company was founded by executives from Goldman Sachs, Accenture, and top quantitative asset managers with a common vision to leverage domain expertise and emergent technologies to make electronic trading simpler, more transparent, and more efficient for institutional investors and traders.
Headquartered in the SoHo neighborhood of New York City, OneChronos is a Y Combinator alum backed by top venture investors in fintech, digital marketplaces and AI.
www.onechronos.com
About Beeks:
Beeks is a leading managed cloud computing, connectivity and analytics provider for Capital Markets and financial services. Our vision is simple: Build. Connect. Analyse.
With a growing international network of data centres, Beeks provides end to end outsourcing of compute environments by delivering low-latency compute, connectivity and analytics, on-demand. Our cloud-based Infrastructure-as-a-Service (IaaS) model allows financial organisations the flexibility and agility to deploy and connect to exchanges, trading venues and cloud service providers at a fraction of the cost of building their own networks and infrastructure.
ISO 27001 certified, Beeks supports its global customers at scale exclusively within global capital markets and leading financial centres.
beeksgroup.com
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