ACT, or Automated Confirmation of Transactions, is a
NASDAQ stock marketsystem for reporting and clearing trades. In contrast to Qualified Special Representative(QSR) clearing via National Securities Clearing Corporation(NSCC), which requires multiple relationships between brokers, dealers, clearing firms, ACT facilitates the simplifies the process of clearing by providing a single counterpartyto interact with.
ACT offers a risk management system that allows clearing firms to monitor the activity of their clients. This tool is unique within the clearing business.
The ACT tool no longer exists and is now known as the
Trade Reporting Facility(TRF).
* [http://www.nasdaq.com/ NASDAQ website]
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