Currently, there is no public transparency around the trading volume that occurs off exchange. FINRA CEO Rick Ketchum has publicly stated that “dark pools” have raised significant concerns among investors who are trying to understand them better and the trading that occurs on them.
Given this context and the fact that more and more ATSs seem to be emerging, we thought it would be useful to help define the different types of ATS, clarify the advantages/ disadvantages and highlight some of the key
