Over 700 finance terms, Shmooped to perfection.
ATS is just eBay for stocks. It’s another way to buy and sell shares other than being on NASDAQ. It’s sort of the off-Wall Street version of those guys who have homes dug in the ground 12 feet deep, with a year’s supply of canned foods and a few rifles in ‘em. Northern Idaho. Off-grid.
ECNs, crossing networks and other fancy market exchanges are all ATSs.