Alternative Trading Systems in Canada

In Canada, prior to the proliferation of Alternative Trading Systems, a security was generally traded on a centralized exchange. As ATSs proliferate, buyers, sellers and their agents have a growing range of options when deciding where and how to execute a trade.  This guide covers the basics of ATSs, including dark pools and dark orders, as well as the ramifications for marketplaces and dealers with respect to their best execution, trade-through and other obligations. It also surveys the regulation of ATSs in the U.S. and Europe. Download: English (655.1 Kb)