A type of repo that trades over alternative trading systems (ATS) or alternative venues. Repo transactions are made either over a fully-automatic or semi-automatic electronic trading platform, rather than the ordinary manner. With ATS-traded repos, dealers can manage their inventories of specific securities (SC– specific collateral) and for liquidity management against general collateral (GC). ATS-traded repo tend to involve high-volume and low-margin transactions in which price is less certain and the collateral is more complex.

Because trading is automated and transparent over ATS, ATS-traded repos tend to be very short-term, and unstructured. Additionally such repos are mainly collateralized with government bonds. and are transacted almost entirely between dealers (who are mandatorily members of the ATS and linked central counterparties).