Economics Report.Big stock exchangesin the United States are linkedin what is known asthe national market system plan.The idea is to process dealsand report the best available pricesto the public as quickly as possible.But there are other waysof investing that operate outsidethe national market system.In the late nineteen nineties,the Securities and Exchange Commissionwanted to make room for new ideasin financial trading.The commission developed new rulesfor exchanges and for what are knownas alternative trading systems.Alternative trading systemsare operated by brokers or dealers.They mainly serve big investorslike retirement funds, universitiesand financial companies.These systems trade the same public stocksas other market players do.But they do not publicly report their trades.This secrecy explains why theyalso have another name: "dark pools."As of October, there wereeighty-six alternative trading systemsregistered with the Securitiesand Exchange Commission.A buy or sell order for a large amountof stock can move markets.It can influence other investorsto try to buy or sellshares of that same stock.Supporters of alternativetrading systems say the secrecy reducesthe risk of a disorderly market.But the International Monetary Fundhas concerns about alternative trading systems.It says they limit the abilityof the investing publicto price a security effectively.Also, the IMF says the activityof these trading systems is largelyoutside the reach of market regulators.Another alternative to the investing methodsthat most people know is the workof so-called angel investors.These are individuals who investin new projects-- and not just Internet startupsthat hope to becomethe next Google or Facebook.They could also be small, local businesses.Steve Moore made a lot of moneyin the software business.After he retiredhe made an interest-free loanto Crystie and Keith Kisler.The couple operate a small organic farmin Washington state.They could not get a bank loanto build their business.CRYSTIE KISLER: "This notion of an angel investorseemed just that to us. It seemed miraculous."In return, Mr. Moore receiveda minority share of their business.STEVE MOORE: "I started thinking aboutwhere else can I get some kindof reasonable rate of returnwhere return can actuallybe defined more fully thanjust how much money did I make."The Center for Venture Researchat the University of New Hampshire saysangel investing fell more thansix percent nationwidein the first half of last year.Still, angel investments during that periodtotaled eight and a half billion dollars.And that's the VOA Special EnglishEconomics Report.