Settlement Date

Full transfers typically settle in ACATS three days after validation. Most nonstandard transfers settle the day after they are submitted. However, nonstandard transfers that include an option, mutual fund asset, or both settle two days after validation.

On the ACATS Transfer Position MRO, ACATS Settlement MRO, and Interface Organization Reject MRO files, the Settlement Date field indicates the day the asset settles. For the Interface Organization Reject MRO, it indicates the day the asset attempted to settle. The settlement date format is CCYYMMDD.

Do All Assets Settle at the Same Time?

All full transfers are scheduled for settlement two business days after settlement determination, unless the holiday schedule of an external settling organization prevents the timely transmission of assets to that organization (for example, a bank holiday). In this case, the full transfer settles three business days after settlement determination.

The ACATS Settlement (S) file contains the settlement date for a transfer. The ACATS End of Day Position MRO (P) file contains the settlement date for a transfer in settlement status.

A nonstandard transfer with option assets settling at the Options Clearing Corporation or a mutual fund eligible to settle through ACATS Fund/SERV are scheduled to settle in two business days after ACATS receives the asset information.

All other nonstandard transfers, except Reclaims and PTFs, are scheduled for settlement one business day after ACATS receives the asset information.