Control Under Regulation ATS is a current Regulation ATS defined term. This guide preserves the rule-specific meaning and boundary instead of replacing it with informal market shorthand.
ReviewedEvidence1 sourceSectionPhrases & Idioms
Quick answer
Regulation ATS defines control around the power to direct an ATS broker-dealer’s management or policies and supplies specified presumptions.
Key details
Canonical FormControl
Core MeaningUnder 17 CFR § 242.300(f), control means the direct or indirect power to direct the management or policies of an ATS broker-dealer, with specified presumptions involving executive roles, voting or sale power, and partnership capital.
Further guidance
History Boundary
This page reflects the current reviewed Regulation ATS definition and should be rechecked if 17 CFR § 242.300 changes.
Meaning
Under 17 CFR § 242.300(f), control means the direct or indirect power to direct the management or policies of an ATS broker-dealer, with specified presumptions involving executive roles, voting or sale power, and partnership capital.
Usage Boundary
The rule includes detailed presumptions; this guide summarizes the defined concept without turning those presumptions into a universal definition of corporate control.
Sources and evidence
Sources are shown with the role they play in this guide. Historical or style-sensitive claims are kept within the evidence boundary described above.
17 CFR § 242.300 — Definitions↗ (opens in a new tab)Legal Information Institute, Cornell Law School · Current e-CFR mirror of Regulation ATS definitions, including the operative definition of alternative trading system incorporated by Regulation NMS.
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