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Automated Customer Account Transfer Service
(redirected from ACATS)

   Also found in: Acronyms, Encyclopedia 0.01 sec.
Automated Customer Account Transfer Service
A computerized system enabling the transfer of securities from one account to another at a separate bank or brokerage. This may be done for any security or derivative: stocks, bonds, options, and futures may all be transferred via the ACATS. However, each transfer may only occur between institutions on the ACATS system, which only includes institutions eligible for membership in the National Securities Clearing Corporation that are member banks of the Depository Trust Company. See also: ACAT.


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Securities and Exchange Commission, the new version of the system will not calculate or store cost basis information for firms, but will effectively extend the efficiencies and capabilities of CBRS to transfer agents, issuers, mutual funds, custodian banks and broker/dealers to move cost basis information -- from one financial firm to another -- on both ACATS and non-ACATS transactions.
Launched in 1986, ACATS has played a significant role in streamlining the ability of firms to move customer accounts from one brokerage firm and/or bank to another, from about 30 days to four.
ACATS, an acronym for the Automated Customer Account Transfer Service, is used to automate the transfer of customers' assets - of all types - between distribution firms.
 
 
 
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