Automated Customer Account Transfer Service
Automated Customer Account Transfer Service (commonly known as ACATS) is an almost entirely electronic system in the United States 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]
References
- Joseph Nordqvist What is The Automated Customer Account Transfer Service Market Business News, Retrieved on September 10, 2014.
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