NSCC’s Automated Customer Account Transfer Service (ACATS) is planning for the launch, subject to any required regulatory approval, a series of enhancements over the next several years that will provide an improved framework to shorten the time it takes to process an account transfer. Currently, it takes up to five business days for a standard (Full) ACATS transfer to settle. During this 5-day period, an investor’s assets will remain invested in the market but trading may be restricted. The inability to trade may expose the investor to additional risks. The goal of this initiative is to begin a multi-phase path to reduce these risks and improve efficiency to the overall ACATS transfer process.
See Also: ACATS Documentation