Partial Transfer Receiver (PTR)

A receiver can initiate a request for a partial transfer, which is known as a partial transfer receiver or PTR. The deliverer has up to one day to respond to a PTR request from the receiver.

ACATS assigns the initial 500–Request (PTR) status to this transfer type. The delivering firm then validates the request or rejects it. The deliverer can use all standard deliverer reject codes (1 to 9) when it rejects a PTR transfer. If ACATS does not receive a response from the delivering firm within the request period, ACATS purges the partial transfer request and sets the status to 510–Memo Purge (PTR). For broker-to-broker transfers, this purge is reported to FINRA.

If a deliverer submits assets against a PTR while it is in the 500–Request (PTR) status, a receiver can reject the PTR by using receiving firm reject code 21.

If the receiver validates the PTR and does not reject it, the assets settle the next business day unless the PTR contains a mutual fund or option asset, whereby it settles in two business days.

Note

ACATS does not compare the deliverer’s input to the receiver’s request.

Insurance assets are ineligible to be transferred through the PTR feature.