Canadian Securities Course (CSC) Level 1 Practice Exam

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What differentiates an Alternative Trading System (ATS) from traditional exchanges?

Physical trading floors
Manual trade executions
Automated matching and execution of trades
Cryptocurrency trading

The correct answer is: Automated matching and execution of trades

An Alternative Trading System (ATS) differs from traditional exchanges primarily due to its automated matching and execution of trades. Unlike traditional exchanges that may involve manual trade executions or physical trading floors, an ATS relies on electronic systems to match buy and sell orders. This automated process enables participants to trade securities efficiently and anonymously, often offering advantages such as increased liquidity and lower transaction costs. On the other hand, options A, B, and D do not accurately represent the key distinction of an ATS when compared to traditional exchanges.