ProATS FORM CRS - CUSTOMER RELATIONSHIP SUMMARY EFFECTIVE October 24, 2022
Prometheum Ember ATS Inc. (“ProATS) is registered with the Securities & Exchange Commission as a broker-dealer. ProATS is a member of FINRA as well as SIPC. Brokerage and investment advisory services and fees differ; it is important for you to understand the differences. Free and simple tools are available to research firms and financial professionals at: www.investor.gov/CRS.
What investment services and advice can you provide me?
ProATS operates an alternative trading system (the “ATS”) for the purpose of providing retail and institutional customers, who have been granted access to the ATS, the ability to enter, transact and match orders for digital asset securities. Customers will be required to open an account with an approved custodian prior to sending orders to be matched on the ATS.
The ATS only accepts orders to be matched at your direction, and ProATS does not offer advice, recommendations or strategies involving digital asset securities, and does not monitor the performance of your account except for its own risk purposes. For more information about our services, please visit our website at https://www.Prometheum.com.
Conversation starters: Given my financial situation, should I choose a brokerage service? Why or why not? How will you choose investments to recommend to me? What is your relevant experience, including your licenses, education and other qualifications? What do these qualifications mean?
If you make all of your own investment decisions, have a high risk tolerance and desire to transact in the digital asset securities that trade on ProATS ATS, then choosing a firm such as ours may be a good choice. As previously mentioned, ProATS does not provide recommendations or advice about whether to buy or sell digital asset securities, on account types, investment strategies or provide monitoring of account performance.
What fees will I pay?
As a broker-dealer ATS, we will charge you a disclosed trading fee for each transaction effected in your account. Fees are calculated at the time you place your order and will be determined by the notional value of the order. Discounts may be applied for future transactions based on the amount you trade in a 30 day rolling period. Fees will be displayed in the trade preview screen before you submit your transaction. All fees we charge are disclosed at the time of transaction.
Your custodian may separately charge you fees for custody and settlement, and you will be responsible for such fees. You will pay fees and costs whether you make or lose money on your investments. Fees and costs will reduce any amount of money you make on your investments over time. Please make sure you understand what fees and costs you are paying.
Conversation starters: Help me understand how these fees and costs might affect my investments. If I give you $10,000 to invest, how much will go to fees and costs, and how much will be invested for me?
ProATS is a self-directed, broker-dealer ATS platform designed to match orders in digital asset securities and will neither invest your money for you nor provide recommendations on how to invest your money . If you open an account with ProATS with $10,000 and want to invest in digital asset securities, fees and costs will reduce any amount of money you make on your investments over time.
What are your legal obligations to me when providing recommendations? How else does your firm make money and what conflicts of interest do you have?
ProATS does not provide recommendations or advice about whether to buy or sell digital asset securities, on account types, investment strategies or provide monitoring of account performance. Prometheum Inc, our parent company and our affiliates have a great interest in the growth and adoption of the trading of digital asset securities underpinned by distributed ledger technology, or blockchain. Our digital asset security operations currently include ProATS operating the ATS. Our ATS is designed to maximize efficiencies and investor experience in the burgeoning
landscape of digital asset securities. Our affiliates, Manorhaven Capital, LLC, and Prometheum Ember Capital LLC are currently not conducting digital asset securities business. As a result, we do not believe that the roles played by our affiliates presents a conflict of interest because all trading by you on our ATS platform is entirely self-directed.
Conversation starters: How might your conflicts of interest affect me, and how will you address them?
A conflict of interest is a potential situation in which ProATS would engage in a transaction or activity where our interest is materially adverse to your interest. The mere presence of a conflict of interest does not imply that harm to your interests will occur, but it is important that we acknowledge the presence of potential conflicts. Moreover, our regulatory obligations require that we establish, maintain, and enforce written policies and procedures reasonably designed to address conflicts of interest associated with the brokerage services being provided to you. ProATS addresses these relationships and a full description of our business by making available all of the disclosures and other materials in the “Disclosure Library” located on our website https://www.prometheum.com/disclosures. ProATS encourages you to read and familiarize yourself with all disclosures and other materials that are relevant to your investment relationship with us.
How do your financial professionals make money?
ProATS professionals do not receive commissions or other compensation related to our customer’s trading activity. ProATS professionals receive salaries and bonuses that are based on their overall job responsibilities and performance.
Do you or your financial professionals have legal or disciplinary history? No. Please visit https://www.investor.gov/CRS to research Prometheum Ember ATS LLC and its professionals.
Conversation starters: As a broker-dealer, do you have any disciplinary history? For what type of conduct?
No. Please visit https://www.investor.gov/CRS to research Prometheum Ember ATS LLC and Prometheum Ember ATS LLC professionals. For additional information about our firm and associated professionals and services, please visit https://brokercheck.finra.org/firm/summary/311636
Conversation starters: Who is my primary contact person? Is he or she a representative of an investment adviser or a broker-dealer? Who can I talk to if I have concerns about how this person is treating me?
Because your account is entirely self-directed and our platform is fully-integrated online through our website, you should please direct any questions and concerns you may have by emailing ProATS at
[email protected] or by calling 212-333-3315 and ProATS will address your questions or concerns quickly, professionally and appropriately. ProATS does not provide investment advisory services, therefore the appropriate personnel of ProATS will address questions as required, be it in a customer services, operational or technical capacity.