ATM is the Data-Link layer protocol that's typically used over the DSL layer1 connection from the CPE and terminated at what's known as the DSLAM - an ATM switch that contains DSL interface cards, or ATU-Cs.
PPP is your only option because HDLC and Frame RElay do not support these types of business requirements. PPP provides dynamic addressing , authentication using PAP or CHAP, and callback services.
Clocking on a serial interface is always provided by the CSU/DSU (DCE device). However, if you do not have a CSU/DSU in your non-production test environment, then you need to supply clocking with the clock rate command on the serial interface of the router with the DCE cable attached.
The key is "there are no free ports" on your router. Only Frame Relay can provide a connection to multiple locations with one interface, and in an economical manner no less.
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