Form ATS-N Filings and Information

Rule 304 of Regulation ATS requires alternative trading systems (“ATSs”) that trade NMS stocks (“NMS Stock ATSs”) to publicly file with the Commission an initial Form ATS-N, amendments to initial Form ATS-N, and notices of cessations of operations.[1] Form ATS-N requires disclosures about the manner of operations of the NMS Stock ATS and the ATS-related activities of the broker-dealer operator and its affiliates, among other things.

An initial Form ATS-N will become effective, unless declared ineffective, upon: (1) the earlier of the completion of review by the Commission and publication via posting on the Commission’s website, or (2) the expiration of the review period, or if applicable, the end of the extended review period. The Commission may declare an initial Form ATS-N ineffective after notice and opportunity for a hearing if it finds such action is necessary or appropriate in the public interest, and is consistent with the protection of investors. A Form ATS-N amendment may be declared ineffective if the Commission finds that such action is necessary or appropriate in the public interest, and is consistent with the protection of investors. In addition, the Commission may suspend for a period not exceeding twelve months, limit, or revoke an NMS Stock ATS’s exemption from the definition of “exchange” pursuant to Rule 3a1-1(a)(2).

Below are links to the Form ATS-N filings for each NMS Stock ATS, including its initial Form ATS-N, subsequent amendments, and Notices of cessation. Also provided below are links to any notices and orders issued by the Commission relating to each NMS Stock ATS’s filings on Form ATS-N or eligibility to operate pursuant to the Rule 3a1-1(a)(2) exemption.

NMS Stock ATSs

ATS Name Broker-Dealer Operator Filing Date of Initial Form ATS-N Effective Date of Initial Form ATS-N Form ATS-N Submissions Commission Notices and Orders
Aqua AQUA SECURITIES L.P. Feb. 7, 2019 Aug. 14, 2019 013-00067 Extension Notice
BIDS ATS BIDS TRADING L.P. Feb. 1, 2019 Jul. 11, 2019 013-00031 Extension Notice
The Barclays ATS BARCLAYS CAPITAL INC. Feb. 11, 2019 August 5, 2019 013-00127 Extension Notice
CBX INSTINET, LLC Feb. 8, 2019 Extension Notice
CODA CODA MARKETS, INC. Feb. 8, 2019 Extension Notice
CitiBLOC CITIGROUP GLOBAL MARKETS INC. Feb. 8, 2019 Extension Notice
Crossfinder CREDIT SUISSE SECURITIES (USA) LLC Feb. 8, 2019 Extension Notice
CrossStream NATIONAL FINANCIAL SERVICES LLC Feb. 11, 2019 Extension Notice
DEALERWEB DEALERWEB INC. Feb. 8, 2019 Extension Notice
IBKR ATS INTERACTIVE BROKERS LLC Feb. 8, 2019 Extension Notice
Instinct X BOFA SECURITIES, INC. May 10, 2019 May 10, 2019 013-00150
Instinet BlockCross INSTINET, LLC Feb. 8, 2019 Extension Notice
Instinet Crossing INSTINET, LLC Feb. 8, 2019 Extension Notice
IntelligentCross ATS INTELLIGENT CROSS LLC Feb. 8, 2019 Jul. 22, 2019 013-00116 Extension Notice
JPB-X J.P. MORGAN SECURITIES LLC Feb. 8, 2019 Extension Notice
JPM-X J.P. MORGAN SECURITIES LLC Feb. 8, 2019 Extension Notice
LeveL ATS EBX LLC Feb. 12, 2019 Extension Notice
Liquidnet H2O ATS LIQUIDNET, INC. Feb. 8, 2019 Aug. 2, 2019 013-00078 Extension Notice
Liquidnet Negotiation ATS LIQUIDNET, INC. Feb. 8, 2019 Extension Notice
Luminex ATS LUMINEX TRADING & ANALYTICS LLC Feb. 8, 2019 Extension Notice
MS Trajectory Cross ATS-1 MORGAN STANLEY & CO. LLC Feb. 8, 2019 Extension Notice
MS Pool ATS-4 MORGAN STANLEY & CO. LLC Feb. 11, 2019 Extension Notice
MS RPOOL ATS-6 MORGAN STANLEY & CO. LLC Feb. 13, 2019 Extension Notice
POSIT VIRTU ITG LLC Feb. 8, 2019 Extension Notice
PRO Securities PRO SECURITIES, L.L.C. Feb. 11, 2019 Extension Notice
SIGMA X2 GOLDMAN SACHS & CO. LLC Feb. 11, 2019 Extension Notice
SuperX ATS DEUTSCHE BANK SECURITIES INC. Feb. 6, 2019 Extension Notice
UBS ATS UBS SECURITIES LLC Feb. 8, 2019 Extension Notice
Ustocktrade USTOCKTRADE SECURITIES, INC. Feb. 8, 2019 Extension Notice
Virtu MatchIt ATS VIRTU AMERICAS LLC Feb. 13, 2019 Extension Notice
XE PIPER JAFFRAY & CO. Aug. 1, 2019 Aug. 2, 2019 013-00160

Ceased Operations

ATS Name Broker-Dealer Operator Date of Cessation Effective Date of Initial Form ATS-N Form ATS-N Submissions Commission Notices and Orders
Citi Cross CITIGROUP GLOBAL MARKETS INC. Apr. 30, 2019 N/A 013-00128
GCX MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED May 10, 2019 N/A 013-00076
Instinct X MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED May 10, 2019 N/A 013-00077
Magma ATS TOR BROKERAGE LLC Sep. 4, 2019 N/A 013-00120 Extension Notice
XE WEEDEN & CO. L.P. Aug. 5, 2019 N/A 013-00141 Extension Notice

[1] Regulation ATS establishes a regulatory framework for ATSs. An ATS is a trading system that meets the definition of “exchange” under federal securities laws but is not required to register as a national securities exchange if the ATS operates under the exemption provided under Exchange Act Rule 3a1-1(a)(2). To operate under this exemption, an ATS must comply with the requirements set forth in Rules 300-303 of Regulation ATS, which includes, among other things, registering as a broker-dealer under Section 15 of the Exchange Act. Rule 304 of Regulation ATS sets forth additional requirements applicable only to NMS Stock ATSs.