DEFINITION of SEC Form ATS-R

SEC Form ATS-R is a required quarterly update filing with the Securities and Exchange Commission by alternative trading systems. SEC Form ATS-R details the alternative trading system's quarterly activities in terms of both the unit and dollar volume of trades in all types of securities. An ATS must file the form within 30 days of calendar quarter-end.

BREAKING DOWN SEC Form ATS-R

The SEC defines an alternative trading system as "any organization, association, person, group of persons, or systems (1) that constitutes, maintains, or provides a market place or facilities for bringing together purchasers and sellers of securities or for otherwise performing with respect to securities the functions commonly performed by a stock exchange within the meaning of Rule 3b-16 under the Exchange Act; and (2) that does not (i) set rules governing the conduct of subscribers other than the conduct of such subscribers' trading on such organization, association, person, group of persons, or system, or (ii) discipline subscribers other than by exclusion from trading."

On SEC Form ATS-R, the entity must report total transaction unit volume and total transaction dollar volume of the most recent calendar quarter for the following securities:

  • Listed Equity Securities
  • Nasdaq National Market Securities
  • Nasdaq SmallCap Market Securities
  • Rule 144A Equity Securities
  • Penny Stocks
  • Other Equity Securities
  • Rights and Warrants
  • Listed Options
  • Unlisted Options
  • Government Securities
  • Municipal Securities
  • Corporate Debt Securities
  • Mortgage-related Securities
  • Other Debt Securities

The ATS must also provide unit and dollar volume transaction figures for Listed Equity Securities, Nasdaq National Market Securities, Nasdaq SmallCap Market Securities and Listed Options in after-hours trading that takes place on the ATS.