Form ATS OMB APPROVAL OMB Number: 3235-0509 October 31, 2018 Expires: Estimated average burden hours per response. . . . . . 2.6 INITIAL OPERATION REPORT, AMENDMENT TO INITIAL OPERATION REPORT AND CESSATION OF OPERATIONS REPORT FOR ALTERNATIVE TRADING SYSTEMS SEC 2550 (5-05) American LegalNet, Inc. www.FormsWorkFlow.com FORM ATS INSTRUCTIONS A. GENERAL INSTRUCTIONS 1. Form ATS is the form an alternative trading system must file to notify the Securities and Exchange Commission ("SEC or " "Commission") of its activities pursuant to Regulation ATS, § 242.300 et seq. 2. WHEN TO FILE FORM ATS z An alternative trading system must file an initial operation report on F orm ATS at least 20 days prior to commencing operation. z The alternative trading system must update Form ATS information by submitting amendments to the initial operation report at least 20 calendar days prior to implementing a material change to the operation of the alternative trading system as described on F orm ATS or any amendment thereto. Additionally , the alternative trading system must update Form ATS information by submitting amendments to the initial operation report on F orm ATS within 30 calendar days after the end of each calendar quarter in which the alternative trading system has operated, correcting any information contained in any initial operation report or any amendment thereto that has been rendered inaccurate and that has not previously been reported to the SEC. z An alternative trading must also file a cessation of operations report on Form ATS promptly upon ceasing to operate. z Form ATS shall not be considered filed, unless it complies with applicable requirements. 3. CONTACT EMPLOYEE - The individual listed on page 1 as the contact employee must be authorized to receive all contact information, communications and mailings and be responsible for disseminating that information within the alternative trading system's organization. 4. FORMAT z Attach an Execution Page (Page 1) with original manual signatures. z Please type all information. z Provide the name of the alternative trading system, the CRD number the SEC File number and the filing date on each , , page. z Use only the current version of Form ATS or a reproduction. 5. WHERE TO FILE AND NUMBER OF COPIES - Submit one original and two copies of F orm ATS to: SEC, Division of Market Regulation, 450 Fifth Street, N.W Washington D.C. 20549-1002. Simultaneously with the filing of the original with ., the SEC, file one duplicate copy of Form ATS with surveillance personnel designated by the self-regulatory organization that is the designated examining authority for the alternative trading system pursuant to Rule 17d-1 under the Securities Exchange Act of 1934. 6. RECORDKEEPING - A copy of this Form ATS, as well as the forms filed with the SEC, must be retained by the alternative trading system and made available for inspection upon request of the SEC. 7. PAPERWORK REDUCTION ACT DISCLOSURE z Form ATS requires an alternative trading system subject to Regulation A TS to provide the Commission with certain information regarding the operation of the alternative trading system, material and other changes to the operation of the alternative trading system, and notice upon ceasing operation of the alternative trading system. z An agency may not conduct or sponsor and a person is not required to respond to, a collection of information unless , it displays a currently valid control number. Sections 3(b), 11A(a), 11A(c), 15(c), 17(a), 23(a) and 36(a) authorize the Commission to collect information on this F orm ATS from alternative trading systems that are subject to Regulation ATS. See 15 U.S.C. §§78c(b), 78k-1(a), 78k-1(c), 78o(c), 78q(a), 78w(a) and 78mm(a). Any member of the public may direct to the Commission any comments concerning the accuracy of the burden estimate on the facing page of Form ATS and any suggestions for reducing this burden. Form ATS is designed to enable the Commission to determine whether an alternative trading system subject to Regulation ATS is in compliance with Regulation ATS and other federal securities laws. It is estimated that an alternative trading system will spend approximately 20 hours completing the initial operation report on F orm ATS, approximately 4 hours preparing each amendment to F orm ATS, and approximately 2 hours preparing a cessation of operations report on Form ATS. It is mandatory that an alternative trading system subject to Regulation TS file an initial operation report on Form ATS, A file an amendment to Form ATS prior to making a material change, file quarterly amendments to Form ATS to reflect changes not previously reported, and file notice on Form ATS upon ceasing operation of the ATS. z z z z 2 American LegalNet, Inc. www.FormsWorkFlow.com FORM ATS INSTRUCTIONS z All reports provided to the Commission on F orm A TS are deemed confidential and will be available only to the examination of Commission staff , state securities authorities, and the self -regulatory organizations. Subject to the provisions of the Freedom of Information Act, 5 U.S.C. 522 ("FOIA") and the Commission's rules thereunder (17 CFR 200.80(b)(4)(iii)), the Commission does not generally publish or make available information contained in any reports, summaries, analyses, letters, or memoranda arising out of in anticipation of, or in connection with, an examination or , inspection of the books and records of any person or any other investigation. This collection of information has been reviewed by the Office of Management and Budget ("OMB") in accordance with the clearance requirements of 44 U.S.C. §3507. The applicable Privacy Act system of records is SEC-2 and the routine uses of the records are set forth at 40 FR 39255 (August 27, 1975) and 41 FR 5318 (February 5, 1976). z B. EXPLANATION OF TERMS ALTERNATIVE TRADING SYSTEM - Shall mean any organization, association, person, group of persons, or system: (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
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