Beeks secures OneChronos contract
Beeks Group today announced 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 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 was 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.”