A Smart Market is a periodic auction solved using a powerful operations research technique called mathematical optimization. As used in many areas of electronic trading and portfolio management, optimization allows for maximization (or minimization) of a specifically defined objective, while respecting a set of constraints. In the case of the OneChronos ATS, we're extending this robust application to the venue level where buyer's & seller's orders meet. The OneChronos optimization's primary objective is to identify, match and clear the configuration of buy and sell orders which would maximize Aggregate Price Improvement achievable by those orders in a given auction. Smart Markets have been deployed commercially dating back to the 1990s by various large cap industries and government procurement auctions of physical commodities to achieve the benefits we describe above, and continue to grow in adoption given their proven success towards those goals.