Form ATS-N-W Filings

What Is SEC Form ATS-N-W?

SEC Form ATS-N-W is a withdrawal submission type used by an NMS Stock ATS to withdraw a Form ATS-N filing that was previously submitted to the SEC. It is filed electronically on EDGAR and is used when the broker-dealer operator determines that a Form ATS-N submission should be withdrawn rather than amended.

This form is typically used when an NMS Stock ATS needs to retract an initial Form ATS-N filing during the SEC’s review period or otherwise withdraw a previously submitted Form ATS-N filing. Filing ATS-N-W helps ensure the public Form ATS-N record is updated to reflect that the withdrawn submission should no longer be relied upon.

For additional regulatory context, the SEC provides guidance on Form ATS-N filings and information, including publicly available Form ATS-N submissions and related filing activity.

ATS-N-W is a withdrawal filing type and is separate from filing a notice of cessation or submitting amendments to an effective Form ATS-N. Researchers can use our SEC filing search tools to examine withdrawal submissions alongside prior Form ATS-N filings and other related EDGAR activity.

Key elements typically found in SEC Form ATS-N-W include:

●       Accession number of the Form ATS-N filing being withdrawn

●       Name of the broker-dealer operator and NMS Stock ATS

●       SEC file number and CRD number (as applicable)

●       Withdrawal indication and submission metadata

●       Filing date of the ATS-N-W submission

SEC Form ATS-N-W Filing Deadlines

SEC Form ATS-N-W does not have a fixed periodic deadline and is filed on an event-driven basis when a withdrawal is required or appropriate under the NMS Stock ATS’s circumstances.

Because withdrawal filings are event-driven, compliance teams can set up EDGAR filing alerts to follow ATS-N-W submissions and other relevant ATS filing activity as new disclosures appear.

Key Things to Know About Form ATS-N-W Filing Rules

●       Withdrawal Is Event-Driven: ATS-N-W is used when an NMS Stock ATS needs to withdraw a previously filed Form ATS-N submission, rather than on a recurring schedule.

●       Different From ATS-N Amendments: Withdrawing a filing is distinct from submitting amendments to an effective Form ATS-N and should be used only when a withdrawal is appropriate under the circumstances.

●       Used During Certain Review Scenarios: When material changes are needed during the SEC review period of an initial Form ATS-N, withdrawal and refiling may be required, depending on the situation.

●       EDGAR Submission Constraints Apply: ATS-N-W is a specific EDGAR submission type, and filers should follow the SEC’s filing requirements and form-type conventions for withdrawal submissions.

●       Record Clarity for Market Participants: A withdrawal helps ensure that market participants and regulators can distinguish between current operative disclosures and filings that have been withdrawn.

ATS-N-W should also be viewed within the broader alternative trading system regulatory framework, where initial filings, amendments, withdrawals, and cessation notices collectively show how an ATS’s regulatory status and disclosures change over time.