OneChronos, Now Offering More, Earlier

The pre-market has been steadily emerging as a session of relevance to institutional traders. We estimate nearly 5% of daily US equity regular session volume now prints between 7:00 and 9:30 AM ET — a share that has grown alongside broader extended-hours participation, and one we expect to keep growing:

As the early trading session becomes an increasingly important source of liquidity, so does the importance of execution quality during these hours. To serve that purpose, OneChronos is bringing its mechanism design to before the bell.

Why would institutional traders trade earlier? The pre-open can be where major news is priced and large positions are adjusted ahead of the open. Many public companies report earnings before 9:30 AM, which can drive up pre-market trading activity in those names. For example, our analysis of two of these companies (SHEL and WMT) shows that more than 10% of the day’s notional volume trades between 7:00 and 9:30 AM on those companies’ respective earnings dates:

By bringing our Smart Market technology to the pre-market session, OneChronos aims to further institutionalize the execution framework available to market participants. Periodic auctions can be used to mitigate information leakage, facilitate price discovery, and achieve meaningful price improvement, which become all the more important in early-hour conditions where at times wider spreads can expose participants to adverse selection.

Discuss with your broker how OneChronos can help you access pre-market liquidity. Contact [email protected] for more information on the OneChronos US Equities ATS offering. The OneChronos ATS is available only to approved subscribers; OneChronos does not accept orders directly from investors.

Methodology

• Pre-market session defined as 7:00–9:30 AM ET; regular session defined as 9:30 AM (or the opening print on listing exchange if it occurs after 9:30 AM) to 4:00 PM ET.
• Consolidated tape and quote data includes consolidated-volume eligible prints only. Derivatively-priced and average-price records are excluded.
• OneChronos pre-market go-live date: 2026-06-17. Pre-market statistics cover 2025-12-22 through 2026-09-10. Charts of individual securities reflect the earnings date shown on the chart.
• Sources: OneChronos, Bloomberg, SIP (UTP/CTA).

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© 2026 OneChronos Markets LLC. Member FINRA/SIPC. All rights reserved. Sources: OneChronos, SIP (UTP/CTA). For distribution to prospective subscribers and users of the OneChronos ATS. DO NOT DISTRIBUTE TO THE GENERAL PUBLIC. This material is provided by OneChronos Markets LLC for informational purposes only. It is not an offer or solicitation to buy or sell any security, is not a recommendation of any security, trading venue, session or strategy, and is not investment, legal, tax or accounting advice. References to specific securities, including SHEL and WMT, are illustrative only and are not recommendations; the securities shown were selected because they reported earnings before the open and are not representative of all securities or sessions. Statistics reflect unaudited internal OneChronos data for the periods stated, are calculated using OneChronos’s own methodology and have not been independently verified; past results are not indicative of future results and no particular execution outcome is guaranteed. The OneChronos ATS is available only to approved subscribers. The operation of the OneChronos ATS is described in its Form ATS-N, as amended, filed with the U.S. Securities and Exchange Commission and available on the SEC’s website; in the event of any inconsistency, the Form ATS-N controls. Third-party data is reproduced with the permission of the source; OneChronos does not warrant its accuracy or completeness. Any forward-looking statements reflect views as of the date of this material and are subject to change without notice.