Position Transfer Fund (PTF) Process

The following table shows the position transfer fund (PTF) process flow.

Position Transfer Fund (PTF) Process Flow
Time Process flow Status
Day of input

The firm, acting as either receiver or deliverer, enters the TI record and mutual fund asset by 3:00 PM Eastern Time. The transfer starts in the 200–Review status.

When the firm is the receiver:

The firm submits a fund registration instruction by 4:00 PM Eastern Time the day after input. If the firm does not provide a fund registration instruction, ACATS generates a default registration instruction on behalf of the firm.

When the fund is the receiver:

The receiving firm can include the fund registration (FR) record at the same time as the transfer input (TI) and asset transfer (AT) records on the initial request. When transmitting the file, the FR record must directly follow the associated AT record. In this scenario, ACATS assigns the same transfer control and asset sequence number as the asset preceding it. Alternatively, the receiving can separately submit the FR record in any subsequent cycle the day of initiation. In this scenario, the submitting firm must populate the ACATS control number and asset sequence number.

If an FR record is not submitted in any subsequent cycle, ACATS generates a default registration instruction on behalf of the fund by combining the TI and AT records. The fund does not submit a fund registration instruction to ACATS.

200–Review
End of day If the fund company acknowledges the registration instruction through the ACATS-Fund/SERV interface within the allotted time, ACATS updates the PTF transfer 310–Settle Close status at the end of the day. 310–Settle Close

If the fund company rejects the registration instruction, or does not respond to it, through the ACATS-Fund/SERV interface in the allotted time, ACATS rejects the PTF transfer.

ACATS transfers that receive no response from the mutual fund after a day and a half are deleted from Fund/SERV. For example, if a fund receives a record on Wednesday evening, the fund has until 11:00 AM on Friday. to respond to the record. If Fund/SERV does not receive a response by Friday at 11:00 AM, Fund/SERV deletes the record.

 600–Reject