The world of financial technology is a fast-paced environment, constantly evolving, innovating, and providing unique challenges that demand cutting-edge solutions. Pico and OneChronos are two leading companies in this dynamic landscape. We provide technology services for the financial markets community, while OneChronos offers an innovative alternative trading system (ATS) platform. Our collaboration with OneChronos forms a mutually beneficial partnership in accelerating growth and instilling client trust in an increasingly competitive industry. With Pico's operational expertise and OneChronos' revolutionary ATS platform, they are poised to make a significant impact in capital markets.
OneChronos sought to enhance its infrastructure and operational resilience, and leveraged Pico's global, comprehensive network, PicoNet™, to offer more value to its growing clientele. The move came at an opportune time, as OneChronos was launching its new ATS.
Pico has significant operational investments and an unwavering commitment to stability and provides an optimal platform to facilitate OneChronos' strategic objectives; foster competition on the quality of liquidity rather than speed of access, optimizing for best execution outcomes via time-randomized auctions. The partnership showcases Pico's unique capability to host, procure, and monitor the network, making it an attractive proposition for an ATS anticipating rapid growth.
The partnership between OneChronos and Pico is a case study illustrating how a novel ATS can leverage PicoNet for rapid growth. As part of the partnership, OneChronos integrated with PicoNet to offer OneChronos subscribers seamless, rapid onboarding. PicoNet offers easy connectivity with major banks and brokers, thus providing quick access to connect with many clients. The decision to partner with Pico was underpinned by the understanding that many clients were already comfortable and familiar with Pico’s global ecosystem.
Moreover, Pico is one of the few vendors heavily investing in their operational stack, backed by 24/7 global support. Pico's commitment to operational excellence stands out in a market where many competitors may have under-invested in this area, establishing a trust-filled environment for OneChronos' clients. OneChronos' ability to deliver stellar execution quality, on a level playing field, to all types of participants is a unique selling point.
“By integrating with PicoNet, OneChronos has been able to tap into a vast network of financial institutions, creating a momentum of rapid growth,” said Iris McAtee, Head of Engineering at OneChronos. “In 2023 year-to-date, OneChronos has facilitated the trading of over 500 million cumulative total shares and $20 billion for our clients, growing over 50% per month in trading volumes given continued exceptional execution performance. Many of our clients are connected and accessing OneChronos via PicoNet.”
This partnership has allowed Pico to flex its operational strengths and showcase the robust nature of PicoNet. By working with OneChronos and crafting a solution-oriented partnership, Pico has cemented its place as a crucial player in the fintech space.