DEFINITION of 'Automated Confirmation Transaction Service - ACT'

Automated Confirmation Transaction Service (ACTA) is 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.

BREAKING DOWN '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.

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