Automated Customer Account Transfer Service

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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.
References in periodicals archive ?
ACATS has been an integral part of the normal processing of securities settlement in the industry for 24 years and its use is mandated under the rules of The Financial Industry Regulatory Authority (FINRA).
Both ACATS and ACATS/IPS are offerings of National Securities Clearing Corporation (NSCC), a DTCC subsidiary.
Richer also served as chairman of the Systems Subcommittee Working Party on Test and Evaluation for the FCC's ACATS where he was responsible for the testing of proponent ATV systems, including that of the digital HDTV Grand Alliance.