Automated Confirmation Transaction Service - ACT

AAA

DEFINITION of 'Automated Confirmation Transaction Service - ACT'

An automated system designed to document and report the clearing of trades in the Nasdaq market. Designed to increase transparency, the Automated Confirmation Transaction Service (ACT) is a technology platform that provides faster access to trade information, increase the efficiency of trade reconciliation and back-office transactions and provides online access to the status of all trade entries.

Also called ACT Service.

INVESTOPEDIA EXPLAINS 'Automated Confirmation Transaction Service - ACT'

Prior to using the ACT, the Nasdaq utilized the Trade Acceptance and Reconciliation Service, or TARS. ACT replaced TARS and assumed its functionality in the third quarter of 1998.

RELATED TERMS
  1. Reconciliation

    An accounting process used to compare two sets of records to ...
  2. Depository Trust Company - DTC

    One of the world's largest securities depositories, it holds ...
  3. Nasdaq

    A global electronic marketplace for buying and selling securities, ...
  4. National Association Of Securities ...

    The NASD was a self-regulatory organization of the securities ...
  5. Qualified Special Representative ...

    An agreement between broker-dealers to clear trades without the ...
  6. Chill

    Special restrictions that can be placed on a given security by ...
Related Articles
  1.  These are the two main types of trades that investors will encounter: principal and agent transactions.
    Investing Basics

    Principal Trading and Agency Trading

    Ever wonder what happens behind the scenes when you buy or sell a stock? Read on and find out!
  2. Options & Futures

    The NYSE And Nasdaq: How They Work

    Learn some of the important differences in the way these exchanges operate and the securities that trade on them.
  3. Trading Strategies

    Steps To Becoming A Quant Trader

    These days, being highly proficient in mathematics or statistics is the bare minimum requirement for being a quant. You'll need a whole lot more than that.
  4. Trading Strategies

    How Trading Algorithms Are Created

    The steps quantitative traders, and traders using algorithms, follow in order to create their algorithms.
  5. Trading Strategies

    Quants: What They Do and How They've Evolved

    It sounds exciting to be a quantitative trader, but what do they do? Here's a sneak peak into the world of a "quant."
  6. OTC trades tend to be for smaller company stocks and debt securities.
    Investing

    Trading Over the Counter

    OTC trades tend to be for smaller company stocks and debt securities. Debt securities such as bonds are generally traded by investment banks making markets for specific issues.
  7. Investing News

    Has High Frequency Trading Ruined The Stock Market For The Rest Of Us?

    HFT is a controversial trading strategy. This article looks at how HFT affects the retail investor.

You May Also Like

Hot Definitions
  1. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  2. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  3. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  4. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  5. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
  6. Free Carrier - FCA

    A trade term requiring the seller to deliver goods to a named airport, terminal, or other place where the carrier operates. ...
Trading Center