ACATS enables eligible participants to efficiently and automatically enter, review, and settle the transfer of customer accounts between each other. The service standardizes transfer procedures, reduces operating costs, and speeds transaction settlements. ACATS enables the transfers of many different types of assets, including, but not limited to, equities, corporate and municipal bonds, unit investment trusts, mutual funds, options, annuities, and cash.
When applicable, ACATS links with NSCC’s Fund/SERV system, which processes and settles mutual fund transactions, to expedite the re-registration of fund positions when a customer account moves from one firm to another, and when a customer mutual fund asset moves between a broker-dealer or bank and a fund. ACATS standardizes mutual fund re-registration procedures, reducing operating costs and the processing time of transaction settlements and re-registration of transferred fund positions.
ACATS also links with NSCC’s Insurance Processing Service (IPS) to provide insurance carriers with information necessary to re-register insurance assets that are transferred between two broker-dealers.
ACATS is a non-guaranteed service and certain transactions may be subject to reversal in the event of the default of a participant that is party to a transfer.