Alternative Trading Systems

Definition ∞ Alternative Trading Systems are electronic venues for trading securities that operate independently of traditional stock exchanges. These systems facilitate direct transactions between participants, offering various execution protocols. They provide platforms for both conventional and digital asset trading, often with distinct operational rules compared to registered exchanges.
Context ∞ The regulatory landscape concerning Alternative Trading Systems, particularly for digital assets, represents a prominent area of discussion. Global authorities are evaluating how existing securities legislation applies to these platforms and their digital asset offerings. The integration of blockchain technology into these systems is a significant future development, potentially altering market structures and access. These systems continually adapt to market demands and regulatory interpretations.