SIFMA Customer Account Transfer Section of the Operations and Technology Society Content Managers RSS Feed

Officers

Thu, 29 Jul 2010 19:23:58 GMT

Governing Committee - Officers Joseph Zaets President Morgan Stanley & Co, Inc Harborside Financial Center Plz Plaza 2 - 2nd floor Jersey City, NJ 07311 (201) 830-4820 Tel (201) 369-7843 Fax Kevin McCosker Executive Vice President Pershing, LLC 300 Colonial Center Parkway Lake Mary, FL 32746 (321) 249-4310 Tel (407) 833-2547 Fax Scott J Hanson Vice President Robert W. Baird & Co. 777 East Wisconsin Ave Milwaukee, WI 53202 (414) 298-7459 Tel (414) 298-1750 Fax Derek Yen Secretary Edward Jones 8640 S. River Parkway Tempe, AZ 85284 (480) 337-6059 Tel (480) 337-2505 Fax Dianne M. Tilley Assistant Secretary CitiGroup Global Markets 700 Red Brook Blvd Owings Mills, MD 21117 (410) 559-0670 Tel (443-703-5698) Fax Leeanne Calciano Treasurer JP Morgan Clearing Corp One MetroTech Center N Brooklyn, NY 11201 (347) 643-1920 Tel (973) 463-5006...

Subcommittees

Fri, 02 Jul 2010 17:24:43 GMT

Committee Mission Chairperson ACATS Cycle Review White Paper - pdf To provide timely account transfers by reducing days of the transfer cycle and extending the cutoff time for new transfer submissions. This committee is currently limited to board members only. Banking ACATS Bank Usage Matrix - xls To coordinate the introduction of Banks into ACATS. Work with the member firms to participate in ACATS with the BANKS. Grant Smith Communications To communicate Industry changes with the division members via the Communicator, Educational Dinner meetings, and the Internet. Steve Callan Cost Basis - Broker / Bank to Broker / Bank Cost Basis...

Benefits of Membership

Fri, 02 Jul 2010 17:16:54 GMT

The Officers of the Customer Account Transfer (CAT) Section would like to extend this opportunity to enroll your firm in our 2010 MEMBERSHIP. We are a Section of the Securities Industry and Financial Markets Association (SIFMA) and work closely with Financial Industry Regulatory Authority (FINRA) and the Depository Trust & Clearing Corporation (DTCC). The CAT Section is working with the Industry on numerous issues and initiatives. Some of these initiatives are: Adding additional asset detail to ACATS to assist in the transfer of Foreign assets Enhancements to DTCC's Cost Basis Reporting System (CBRS) Increasing Bank participation in ACATS Potential enhancements to the Liquidation process Adding Mutual Fund companies as ACATS participants The CAT Section will also address any new issues that may arise throughout the year. Membership in the Section entitles enrolled individuals to the following: ...

Welcome

Thu, 03 Jun 2010 13:59:26 GMT

Thank you. You have successfully logged into the Customer Account Transfer Division web site. As a member, you will have access to all areas of the site.

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Edit Your Profile

Thu, 03 Jun 2010 13:57:53 GMT

If your member profile needs updating or you have an inquiry about your member profile, please e-mail us at SIFMA-Societies@SIFMA.org.

Panel 3 - Officers/Members

Tue, 16 Feb 2010 14:06:54 GMT

See who our Officers and Members are.

Membership Application

Tue, 09 Feb 2010 14:37:06 GMT

Join the Customer Account Transfer Section of
SIFMA’s Operations and Technology Society!

In this historic period of reform, it is now more important than ever to stay connected and informed within our industry. I would like to invite you to join the Customer Account Transfer Section today to take advantage of all the benefits membership has to offer.

The Customer Account Transfer Section was founded in 1981 as a forum for like-minded industry participants to communicate about issues that impact their daily professional lives. Our legacy of service and value to the professional community is rooted in our years of service to our members. Today, our Society boasts hundreds of members.

Professionals from all across our industry have joined the Customer Account Transfer Section to take advantage of the benefits of membership, which include:

Peer-to-Peer Networking
Conferences and Events
Educational Seminars
Listing in our Online Directory
Newsletters Covering Current Events in the Industry
Information Sharing Through Committee Participation

Change IS coming. Join the Customer Account Transfer Section today to stay connected and informed as financial regulatory reform sweeps the globe.

Sincerely,
Joe Zaets, President
Customer Account Transfer Section, Operations and Technology Society

How Do I Join?

Click Here to apply for Membership in the Customer Account Transfer Section. The application is simple and should take only a few minutes.

How Much are Dues?

Annual Membership dues are $75 for the 2010 calendar year. Payment may be made with a credit card. If that is not possible please contact SIFMA-Societies@SIFMA.org.

Mission and history

Thu, 14 Jan 2010 19:05:56 GMT

The Customer Account Transfer (CAT) Section of the Operations and Technology Society is an organization whose goal is to provide clients with efficient and timely account transfers within the financial community. Learn more.

Visit SIFMA's Career Center to find qualified financial services candidates.

Panel 4 - Become a Member

Thu, 14 Jan 2010 18:25:07 GMT

Membership in Customer Account Transfer Section of the Operations and Technology Society will provide your firm with a cost effective method for staying current with state-of-the-art Customer Account Transfer Society practices.

Learn more ...

Membership Application

NSCC Rule 50 Section 17

Tue, 12 Feb 2008 00:17:41 GMT

NSCC Rule 50 Section 17

Tue, 12 Feb 2008 00:11:22 GMT

NSCC Rule 50 Section 17

Rule 50 Section 17

Mon, 11 Feb 2008 23:45:53 GMT

Rule 50 Section 17

Important Notice (ACATS Transfer Cycle Rewrite - Implementation Date)

Fri, 19 Oct 2007 14:20:09 GMT

A#6515 P&S #6085 DATE: October 18, 2007 TO: ALL PARTICIPANTS ATTENTION: MANAGING PARTNER/OFFICER, OPERATIONS PARTNER/OFFICER, DIRECTOR OF OPERATIONS, MANAGER CUSTOMER ACCOUNT TRANSFER DEPARTMENT, MANAGER MUTUAL FUNDS OPERATIONS, MANAGER MARGIN DEPARTMENT, DATA PROCESSING MANAGER, FROM: Bill Kapogiannis SUBJECT: ACATS Transfer Cycle Rewrite – Implementation Date On August 15, 2007, National Securities Clearing Corporation (NSCC) submitted NSCC rule filing SR-NSCC-2007-13 with the U.S. Securities and Exchange Commission (SEC). This rule change modifies NSCC’s Rules, as necessary, to shorten the account transfer timeframe with respect to certain types of ACATS and ACATS Fund/SERV transfers. Members are advised that the modified ACATS system will be implemented into production on Monday, October 22, 2007. REMINDER: Transactions in Process on Conversion Date NSCC...

Page Under Construction

Wed, 11 Jul 2007 21:14:55 GMT

Check back soon!

Home Page - Tagline

Sat, 26 May 2007 15:51:01 GMT

Efficient and timely account transfers within the Financial Community.

Fail Reversals & Using the ACAT System

Mon, 26 Mar 2007 21:42:11 GMT

By Steve Callan

NSCC created a system for Fail Reversals that is simple to use. The only problem related to the system is that many firms are not using it. Isn't everyone always thinking of cost savings? You should be, and here is a system that will save you money and create clean customer entries.

How does the fail reversal system work?

Fail Reversals allow the original Deliverer to reverse monies with the original Receiver associated with an outstanding fail.

Reversals are cash settlement only. There are no physical securities to accompany a fail reversal. The receiving firm will have an opportunity to reject the fail reversal, or the transaction will settle the next day. Often reversals are done because the receiving firm doesn't have a selling agreement for a mutual fund asset and it should never have been processed for delivery. The carrying firm will contact the receiving firm and ask that the transaction be returned.

The carrying/delivering firm submits the transaction as cash only, but indicates the pertinent information to reflect the asset being reversed. Once accepted, the reversal settles the next day. Book entries are processed to remove the failing position from the receiving firm's account and the delivering firm will re-establish the long position in the customer's account on their books. Again, the receiver has control of accepting or rejecting the reversal request.

If you want to understand more about "ACAT Fail Reversals" please refer to the National Securities Clearing Corporation's Automated Customer Account Transfer Service Reference Manual or contact your account representative at the NSCC.

Fail Reversal can be processed through PC Web Direct, PTS, ADP, BETA, SIS, or your own in house system. Please attempt and use the enhanced products of the ACAT system as often as possible. Please direct any questions to the Officers of the Customer Account Transfer Division.

SIFMA Customer Account Transfer Section of the Operations and Technology Society Content Managers RSS Feed

Officers

Subcommittees

Benefits of Membership

Welcome

Quick Links

Edit Your Profile

Panel 3 - Officers/Members

Membership Application

Join the Customer Account Transfer Section of SIFMA’s Operations and Technology Society!

Mission and history

Panel 4 - Become a Member

NSCC Rule 50 Section 17

NSCC Rule 50 Section 17

Rule 50 Section 17

Important Notice (ACATS Transfer Cycle Rewrite - Implementation Date)

Page Under Construction

Home Page - Tagline

Fail Reversals & Using the ACAT System

Join the Customer Account Transfer Section of
SIFMA’s Operations and Technology Society!