Alternative Trading Systems (ATSs)
Alternative Trading Systems (ATSs) are SEC-regulated electronic trading systems that match orders for buyers and sellers of securities. An ATS is not a national securities exchange . However, an ATS may apply to the SEC to become a national securities exchange.
Concept at a glance
Definition and explanation
Alternative Trading Systems (ATSs) are SEC-regulated electronic trading systems that match orders for buyers and sellers of securities. An ATS is not a national securities exchange . However, an ATS may apply to the SEC to become a national securities exchange. [1]
All current ATSs are “dark pools.” Dark pools are trading systems that allow their users to place orders without publicly displaying the size and price of their orders to other participants in the dark pool. [1]
For additional information on ATSs, please read the SEC rules here . For a current list of ATSs, go here: http://www.sec.gov/foia/docs/atslist.htm . [1]
Source-supported connections
Frequently asked questions
What does Alternative Trading Systems (ATSs) mean in the cited reference?
Alternative Trading Systems (ATSs) are SEC-regulated electronic trading systems that match orders for buyers and sellers of securities. An ATS is not a national securities exchange . However, an ATS may apply to the SEC to become a national securities exchange. [1]
Alternative Trading Systems (ATSs) connection map
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Sources and review dates
Reviewed 23 October 2026. Historical dates and award-time affiliations retain their original context. A review date is not an event date. Background sources are identified separately from official records.