Automated Customer Account Transfer Service: Difference between revisions
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'''Automated Customer Account Transfer Service''' (commonly known as ACATS) is an almost entirely electronic system that executes the transfer of [[financial securities]] from a trading account at one institution to the trading account at another. ACATS was developed by the National Securities Clearing Corporation (NSCC), now a subsidiary of [[Depository Trust & Clearing Corporation]] (DTCC), a private holding company owned collectively by banks and financial institutions that handles the [[settlement (finance)|settlement]] of the vast majority of securities transactions in the United States. |
'''Automated Customer Account Transfer Service''' (commonly known as ACATS) is an almost entirely electronic system that executes the transfer of [[financial securities]] from a trading account at one institution to the trading account at another. ACATS was developed by the National Securities Clearing Corporation (NSCC), now a subsidiary of [[Depository Trust & Clearing Corporation]] (DTCC), a private holding company owned collectively by banks and financial institutions that handles the [[settlement (finance)|settlement]] of the vast majority of securities transactions in the United States.<ref>Joseph Nordqvist[http://marketbusinessnews.com/automated-customer-account-transfer-service-acats/32225 What is The Automated Customer Account Transfer Service] [http://www.marketbusinessnews.com Market Business News], Retrieved on September 10, 2014.</ref> |
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Revision as of 18:18, 10 September 2014
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Automated Customer Account Transfer Service (commonly known as ACATS) is an almost entirely electronic system that executes the transfer of financial securities from a trading account at one institution to the trading account at another. ACATS was developed by the National Securities Clearing Corporation (NSCC), now a subsidiary of Depository Trust & Clearing Corporation (DTCC), a private holding company owned collectively by banks and financial institutions that handles the settlement of the vast majority of securities transactions in the United States.[1]
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- ^ Joseph NordqvistWhat is The Automated Customer Account Transfer Service Market Business News, Retrieved on September 10, 2014.