The account transfer was achieved through Apex’s API-based Account Transfer Service. This significant development enhances information exchange between broker-dealers.
Apex Fintech Solutions Inc., the fintech for fintech powering innovation and the future of digital wealth management, announced the completion of the first-ever account transfer leveraging the latest messaging protocols set by National Securities Clearing Corporation’s (NSCC) Automated Customer Account Transfer Service (ACATS). The account transfer was achieved through Apex’s API-based Account Transfer Service. This significant development enhances information exchange between broker-dealers.
In October 2025, NSCC plans to decommission ACATS’ legacy messaging. To support this, Apex’s Account Transfer Service is built for scale to assist financial intermediaries and NSCC members during this transition by offering a wide range of benefits, including real-time testing capabilities, leading to shorter testing cycles.
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“At Apex, we are proud to have designed a seamless, API-based solution for our clearing clients and other NSCC members to help them adopt the new ACATS protocol,” said Lucille Mayer, Chief Solutions Officer at Apex. “The first account transfer on March 15, 2024, was an exciting milestone, and paves a path for other firms towards more efficient, flexible account transfer services that reduce manual processes.”
“We are pleased to see the completion of the first account transfer following the updated API protocol. We look forward to continuing this momentum and encourage other members to update messaging ahead of the deadline,” said Michele Hillery, Managing Director and General Manager of NSCC Equity Clearing, DTC’s Settlement Service.
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