As the financial landscape continues to evolve, firms are increasingly looking for ways to expand their offerings while maintaining ease of use for clients. In an interview with Traders Magazine, Vlad Khandros, CEO of OneChronos Markets, has shared insights about their upcoming expansion into the spot foreign exchange (FX) market.
After successfully deploying cutting-edge technology in US equities, the company is now preparing to leverage its experience in a new asset class, aiming to bring the same level of sophistication and simplicity to FX trading, he said.
“We’re quite excited to take some of the lessons learned and technology that we’ve deployed in US equities and bring it into the spot FX space,” he said.
“We’re months away from launching, and we want the experience to feel very similar to what our customers already know about US equities,” he said.
The company’s approach to launching its spot FX venue closely mirrors its strategy in equities, with a strong emphasis on simplicity, usability, and performance.
By focusing on standard, existing order types and providing a seamless integration experience, they aim to ensure a smooth transition for clients.
Despite the allure of new features and cutting-edge tools, the company recognized the necessity of maintaining a user-friendly experience.
“As we launched US equities, we rolled out a whole bunch of exciting features,” Khandros reflected. “But we quickly realized that, for the sake of adoption, we needed to focus on making it as simple and accessible as possible for our customers. For the FX launch, we’re sticking with existing and standard order types so that it’s really easy for our customers to connect and the experience feels consistent with what they already know.”
This approach is a deliberate effort to minimize complexity from day one. Khandros explained that, while the company is eager to innovate, they want to ensure that clients are not overwhelmed by new technologies. “We will start with spot FX and, over time, add more currency pairs and products,” he said. “The key is to ensure that we meet the immediate needs of our clients without overwhelming them.”
The company has received strong support from its institutional clients, many of whom have been long-time customers in the US equities market.
Khandros noted that the firm’s extensive network of global, cross-asset clients has positioned them uniquely to engage with the same firms—and sometimes even the same individuals—across both equities and FX.
“We’re really excited about the prospects of this expansion,” Khandros shared. “The feedback so far has been overwhelmingly positive. The engagement with top institutional brokers and money managers within the FX space has further validated the company’s decision to enter this market. “It’s a great feeling knowing that we’re bringing something new to our clients, and that it’s well-received,” he added.
The launch will initially support trading hours for the Americas and EMEA, with plans to extend to APAC in the future.
“We’re bullish on this,” Khandros said: ”The combination of simplicity, performance, and cross-asset integration is something we’re really proud of, and we’re excited to see how our customers will benefit when they’re able to bridge equities, FX, and other asset classes together.”
Richard Suth, co-founder at OneChronos, highlighted the importance of ease of integration for institutional clients. As firms in the FX space often deal with complex infrastructures, Suth emphasized that simplifying the integration process is critical to ensuring adoption.
“I can’t stress enough how important the ease of use and implementation is for this type of venue,” he explained. “People often think it’s going to be way too complex. But what we’ve actually done is shift all the complexity directly to our venue, making it super easy for brokers to plug in, just like they would with any dark pool or exchange.”
This approach has allowed the company to eliminate the barriers typically associated with complex trading venues. Suth continued, “It’s incredibly easy to integrate, and brokers get much better performance because of the design we’ve put together. If adoption isn’t easy, it just won’t happen.”
By focusing on a seamless, plug-and-play integration model, the company aims to eliminate the resistance that often accompanies new technologies. “Anything that deviates from typical workflows often faces resistance,” Suth acknowledged.
“That’s why we’ve spent so much time ensuring our platform integrates effortlessly with existing systems,” he concluded.
KYC and Adverse Media Screening: What Risks are Lurking in the Shadows?
By Steve Marshall, Director, Advisory Services, FinScan, an Innovative Systems Solution
In the ever-evolving world of business risks, Know Your Customer (KYC) remains the cornerstone of uncovering reputational and financial harm that may occur in the future. But as information sources become increasingly diverse KYC verification methods might not be enough, and “set it and forget it” doesn’t work anymore. Enter adverse media screening—KYC’s secret weapon for uncovering hidden risks and bolstering your anti-money laundering (AML) defenses.
Adverse media screening is all about avoiding risky business relationships. But it’s not always easy. With the flood of information out there, not only can the initial process feel like finding a needle in a haystack, but continuous monitoring can be overwhelming. Luckily, technology is stepping in to make the process smoother and more effective.
Adverse media screening: shining a light on customer risk
Imagine a customer who passes all the standard KYC checks: ID verified, address confirmed, source of funds seemingly legitimate, etc. Yet, beneath the surface lurks a direct or indirect web of past financial or criminal misconduct documented only in news articles. Adverse media screening steps in, systematically scanning a vast array of sources—news websites, regulatory databases, public records—to unearth negative information that traditional KYC checks might not capture as customers don’t self-report. This may include:
By uncovering such red flags, adverse media screening offers invaluable insights into a customer’s true risk profile, empowering firms to make informed decisions.
Adverse media screening also helps organizations comply with international sanctions regimes, as they may assist in identifying individuals or entities that are in some way related to the customer or transaction. Those individuals or entities may be sanctioned and, therefore, may impact the risk associated with the customer or transaction. Both the Financial Action Task Force (FATF) and the Office of Foreign Assets Control (OFAC) advocate for these searches as an effective approach to managing risks in this domain.
The challenges of adverse media screening
Adverse media screening sounds simple, right? Just check the news for anything shady about a client or a company during onboarding. But in reality, it’s much more complicated. Customers are living organisms, and what might seem fine during initial checks can change as questionable dealings could surface months later.
Here are a few hurdles organizations face:
How adverse media screening strengthens business practices
Addressing these challenges with a strong adverse media screening solution can help organizations spot risks early on, enabling them to proactively detect red flags before they become major problems, as well as facilitating continuous monitoring of clients to catch any emerging risks. Companies are also aided in their compliance efforts, with global regulators expecting firms to do more than just basic background checks. Going beyond compliance, adverse media screening helps companies protect their reputation by steering clear of risky business partners—even if regulations allow them to do business.
Adverse media screening should integrate seamlessly with KYC processes that unveil hidden risks byexposing associations with criminal activity or terrorist financing, allowing organizations to take necessary precautions. These processes should enhance due diligence by providing information that clients themselves don’t provide for KYC verification, ensuring a more comprehensive customer profile. And of course, they should also meet regulatory requirements by emphasizing the need for ongoing monitoring of customers.
Elevate KYC by building trust
A strong KYC program is no longer just about ticking boxes. By incorporating adverse media screening into AML and KYC frameworks, firms gain a powerful tool to proactively identify risks, enhance due diligence, and ultimately, safeguard institutions from financial crime. A robust KYC program with adverse media screening at its core is not just about AML compliance—it’s about building trust and protecting the integrity of the financial system.