ACT FAQ
How do I access the ACT system?
Firms can access the ACT system through the internet or through The Clearing Corporation’s Customer Network. To access The Clearing Corporation’s Web site type www.clearingcorp.com, then click Login. You will be prompted for your user Id and Password.
How do I enter an EFP in the ACT System?
1. From the ACT Selection Menu, choose the appropriate exchange and firm from the drop-down menus.
2. Choose EFP from the Transaction Type drop-down menu.
3. Click on the Create Summary radio button from the Function menu.
4. Click Submit.
5. The Create Summary screen will open.
6. Begin entering the transaction data in the first applicable field. The Transaction Type (TT) field will be automatically populated with 9. If left blank, the Trade Route Indicator (TRI) field will be automatically populated with a 3, and the Trade Date field will default to the current business day.
7. In the Accept Info section, enter data for the opposing side of the transaction, if known.
8. Click Submit.
9. If the opposite side has been entered, the transaction’s status will be Allocated (A). If no opposite side is entered, the status will be Unallocated (UA), and the EFP may be allocated through the Initiate Summary Screen.
How do I allocate a transaction ACT System?
1. Navigate to the Initiate Summary screen by clicking on the Initiate link on the navigation bar at the top of the screen, or by clicking on the Initiate Summary radio button on the ACT Selection Menu. Select the type of transaction to be allocated from the Transaction Type drop down menu.
2. On the transaction line, scroll to the Accept Info section. Enter in the opposing firm information.
3. Click Submit.
4. The transaction’s status will be updated to Allocated (A).
How do I multi-allocate a transaction in the ACT System?
1. Navigate to the Initiate Summary screen and locate the transaction to be multi-allocated. Click on the Go link on the transaction line; the Initiate Detail screen will open.
The top portion of the screen represents the original trade that is being multi-allocated. The bottom portion of the screen is used to enter the different firms/accounts the trade is being allocated to.
2. Begin entering the accepting firm information into the first available line, using a new line for each new firm/account number.
3. When finished, click Submit.
4. The status of the trade will update from Unallocated (UA) to Allocated (A). The Total Quantity Remaining will reduce. Trades in ACT cannot be over-allocated.
5. Click the Close and Refresh button to close the window.
6. The status of the trade will automatically update to Allocated (A) on the Initiate Summary screen if the entire trade quantity has been allocated. If only part of the trade is allocated, the status will be Underallocated (UDA). The Accept Info section will display Multi to show that the trade has been allocated to more than one firm or account.
How do I claim a transaction on the ACT System?
1. Navigate to the Accept Summary screen, either by selecting the Accept Summary radio button from the ACT Selection Menu, or by clicking on the Accept link on the navigation bar at the top of the screen (if already in the ACT system).
2. Select the appropriate type of transaction from the Transaction Type drop down menu.
3. Locate the transaction to be claimed. If claiming the transaction to one account, select the Fast Claim radio button and enter the claiming information (i.e. account, origin, etc.) in the Accept Info section. If claiming the trade to multiple accounts, see the “Claiming a Transaction to Multiple Accounts” section.
How do I multi-claim a transaction on the ACT System?
1. Navigate to the Accept Summary screen. Locate the trade to accept. Click on the Go link for that transaction. The Accept Detail Screen will open.
The top portion of the screen represents the original trade that is being claimed to multiple accounts. The bottom portion of the screen is used to enter the different firms/accounts the trade is being allocated to.
2. Enter the accepting information, using a new line to for each separate account. Trades cannot be overclaimed.
3. Click Submit. Click the Close and Refresh button to close the window.
4. If the entire trade quantity has been claimed, the status will update to Claimed (C). If the trade has been underclaimed, the status will be UDC. The Accept Info section will display Multi to show that the trade has been claimed to more than one firm or account.
How do I reject an Allocation on the ACT System?
1. The accepting firm may reject unclaimed transactions allocated to them.
2. To reject any unclaimed transaction, navigate to the Accept Summary screen. Select the type of transaction (EFP, Transfer, Misclear, or Giveup) to be rejected from the Transaction Type drop down menu.
3. Locate the transaction to be rejected and click in the Reject radio button for that transaction line.
4. The status will be updated to REJ and the transaction will remain on the screen. The initating firm will be able to view the REJ status and be able to edit the trade data and re-allocate.
Can I claim a transaction that I previously rejected?
1. To claim a transaction that was previously rejected, navigate to the Accept Summary screen and choose the Transaction Type from the drop down menu. Click on the Go link on the transaction line to be claimed.
2. The Accept Detail screen will open. Click on the Claim radio button and enter the relevant accepting information.
3. Click Submit. Click the Close and Refresh button to close the window. The status of the transaction will update to Claimed (C).
How do I delete a transaction?
1. Unclaimed transactions may be deleted.
2. Navigate to the Summary Inquiry/Update Screen.
3. Locate the transaction to be deleted. Click in the Del radio button. Click Submit.
Note: For give ups, both the allocation record as well as the original trade will be deleted. To delete an unclaimed give up record, navigate to the Summary Inquiry screen and select Giveup as the Transaction Type. Locate the Give Up summary record to delete. Click in the Del radio button and click Submit.
4. If the transaction has been claimed, then it cannot be deleted and a reversal must be initiated. See the Initiating a Reversal section.
How do I Give-Up an EFP on the ACT System?
1. A transaction can be given up before or after it is claimed. A Give Up record can be generated by any of the following methods:
a. When entering an EFP in the Create Summary screen, click on the GU check box. The trade will be marked as a give up and will be available in the Give Up Initiate Summary screen to be allocated;
b. From the Initiate Summary screen, click on the Go link to open the Initiate Detail screen. Click in the Give Up (GU) check box to denote the quantity of the trade to be given up in the corresponding transaction line; or
c. From the Create Summary screen, select Give Up as the transaction type and enter the transaction information, including the original trade information. Accepting firm information may be entered in the Accept Info section.
2. Navigate to the Initiate Summary screen and select Give Up as the transaction type. All give up transactions will be displayed. Locate the give up to be allocated and enter the opposing side information.
3. Click Submit. The transaction status will be Allocated (A).
What are the values of the Status Fields in ACT?
UC - Unclaimed
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UA – Unallocated
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C - Claimed
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E - Error
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UDC - Under Claimed
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REJ - Rejected
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RRV - Initiate Reverse
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CRV – Confirmed Reverse
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A - Allocated
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UDA - Under Allocated
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How do I view prior-day claimed Give Ups?
Claimed transactions fall off the ACT system during overnight processing. However, the reversal database can be used to view claimed Give Ups. Navigate to the Create Summary screen. Select Give Up as the Transaction Type and choose the appropriate session from the Session drop down menu. Click on the “Give Up Reversals” link. The reversal database will open. Choose the date from the drop down menu and use the search functionality to find a specific card order or record ID.
How do I enter a Misclear in ACT?
1. The seller of the original trade will initiate the misclear in the ACT System.
2. The misclear can be initiated two ways:
A. Enter the misclear manually from the Create Summary screen; or
a. From the Create Summary screen, select Misclear from the Transaction Type drop down menu and click Submit.
b. To enter a misclear of a transaction begin entering the data in the first available transaction line. The Transaction Type field will be populated with a 3 by default. If the transaction has been cleared within the past 5 business days, the misclear database may be used. See the “Using the Misclear Database” section.
c. Click Submit or move to the next line to enter more than one transaction.
B. If the original transaction was cleared within five business days, the misclear database can be used to facilitate entry:
a. From the Create Summary screen, select Misclear as the Transaction Type (TT). The Previously Cleared Transactions screen will open, and a link titled Misclear Previously Cleared Transactions will be available. Click on the link, and the misclear database will open.
b. Utilize the Search Line function to help locate a specific trade. See “The Search Feature” section.
c. Scroll through the window to locate the trade to misclear.
d. Once the transaction has been located, select the Misclear check box for that transaction line. Click Submit.
e. Misclear position information will be automatically imported to the Create Summary Screen.
f. The Previously Cleared Transactions window will close and the Create Summary screen will be populated with the selected trade data. Click Submit to enter the misclear.
How do I enter a Transfer in ACT?
1. The firm which currently holds the position (the “from” firm) will initiate the transfer.
2. From the Create Summary screen, select Transfer from the Transaction Type drop down menu.
3. Enter the transfer information on the first available transaction line. The Transaction Type (TT) field will be automatically populated with 8. If left blank, the Trade Route Indicator (TRI) field will be automatically populated with a 3, and the Trade Date field will default to the current business day. The Trade Price field is not required for option positions. Enter the opposite firm and account number in the Accept Info section if known. If the opposing side is not known, the accepting information may be entered later in the Initiate Summary screen.
4. Click Submit.
Can I key give up reversals in ACT?
1. The “from” firm will initiate the reversal.
2. A reversal can be initiated one of two ways:
A. Enter the reversal manually in the Create Summary Screen; or
a. Navigate to the Create Summary screen. Select Give Up as the Transaction Type and choose the correct session from the Session drop down menu.
b. Click in the Rev column to indicate the transaction is a reversal. Begin entering the give-up data in the first available transaction entry line.
c. Be sure to key and claim the reversal with exactly the same information as the original give up. This will ensure that the data will load correctly into GAINS.
B. Use the reversal database to enter the transaction.
a. If the give-up has been cleared within five business days, the give-up reversal database may be used.
b. Navigate to the Create Summary screen and select Giveup from the Transaction Type drop down menu.
c. Click on the Giveup Reversals link. The Previously Cleared Transactions window will open.
d. Locate the give-up to be reversed. The search functionality at the top of the screen may be used to help locate specific transactions.
e. Click in the Misclear check box next to the particular transaction to be reversed. Click Submit.
f. The Previously Cleared Transactions window will close and the Create Summary screen will be populated with the selected trade data. Click Submit to enter the reversal. The Rev column will populate with an I for Initiated Reversal, once the reversal has been submitted.
g. The accepting firm should be sure to claim the reversal with exactly the same information as the original give up. This will ensure that the data will load correctly into GAINS.
How can I use the ACT System to find the residual of a previous day claimed APS trade?
1. The Reversal Database may be used to query on APS trades that have cleared within the past four business days.
2. Navigate to the Create Summary screen and select Give Up from the Transaction Type drop down menu. Click on the Giveup Reversals link.
3. The Give Up Reversal Database will open. You may then use the search line in the database to query on previous days’ trades. You may search by any available field in the search line. Begin by selecting the date the trade was cleared, then enter any other search criteria, and click on the Search button.
4. The database will display all give ups that contain the specified criteria. Locate the give up. The residual can be found in the Residual per Contract column.
Can I do same day Give Up reversals in ACT?
1. A same day Give Up reversal must be initiated by the executing firm.
2. Navigate to the Initiate Summary screen and select Giveup from the Transaction Type drop down menu.
3. Locate the transaction to be reversed. Click on the Go link for that transaction. The Initiate Detail screen will open.
4. Click on the Rev Req radio button for that particular transaction line. Click Submit.
5. The status for the transaction will be updated to RRV (Reversal Requested) and the opposite firm will be able to confirm the reversal.
How do I access the ACT system through an API?
Contact your service provider. |
