⏳NSCC Proposes ACATS Changes to Expedite Account Transfers
The Securities and Exchange Commission has approved NSCC's proposed rule changes to enhance the Automated Customer Account Transfer Service (ACATS). Key changes include the elimination of the Settle Prep Day and a reduction in processing timelines, aimed at improving efficiency and reducing asset exposure risk during account transfers, contributing to a more streamlined securities settlement process.
Learn More⏱️NSCC Proposes Enhancements to ACATS Account Transfer Process
The SEC published a notice regarding the NSCC's proposed rule change to enhance the Automated Customer Account Transfer Service (ACATS). The proposal aims to improve efficiency by eliminating the Settle Prep Day and the second day of the pending acknowledgment process for mutual fund transfers. This aims to expedite account transfers and align processes with the T+1 settlement cycle, enhancing overall transaction efficiency.
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