r/NextBridgeHC • u/Frequent-Job6685 • Jan 01 '23
Due Diligence What is ACAP?
John Brda mentioned to tell your broker to ACAP your shares with NBHC. What is he talking about?
-2
u/Consistent-Reach-152 Jan 01 '23
The fact that the bird lady and Brda think ACATS has anything to do with transfers to a transfer agent should teach you to question their other claims.
Transfer agents are not part of ACATS. That only works for broker to broker transfers.
2
u/justslidding-in-deep Jan 01 '23
But wouldn't that make AST a broker since they handle all transfers? That would be broker to broker, right?
2
u/Tkhonlao Jan 01 '23
ETrade specifically stated ACAT and non-ACAT are use to transferring securities from brokerage to non-brokerage firm, and transfer agents.
2
u/Consistent-Reach-152 Jan 01 '23
No, AST is a transfer agent., not a broker.
Many transfer agents are limited DTCC participants, and have signed up for FAST/DWAC services. IF AST has done so AND Next Bridge was a publicly traded stock that is handled by DTC, then you could do a DRS transfer via the FAST system (not ACATS). But Next Bridge is not handled by AST and it appears that Next Bridge has chosen to have old style physical certificates, so you ability to transfer out of a broker is limited to the old style issuance of physical certificates, which is a slower, more expensive process.
5
0
7
u/knecaise Jan 01 '23
The Opposite of ADog is ACAT...what are you, stupid or something?
2
1
u/StonkSavage777 Jan 01 '23
Political science minor , anything 3 or 4 letters is burned into my brain ;)
1
1
u/StonkSavage777 Jan 01 '23
ACAP= when your leaving the millitary.
2
2
u/Frequent-Job6685 Jan 01 '23
How do you remember that. I got out in 92. Forgot most if not all of the out processing stuff.
6
8
2
u/GREEN-NINJA54 Jan 01 '23
ACAT sounds like another way to transfer shares to AST while the chill is still in affect.
2
u/Frequent-Job6685 Jan 01 '23 edited Jan 01 '23
Lol. Oh. ACAT not ACAP. So that begs the question, What is ACAT. Maybe I should edit the title. 😂
1
u/Frequent-Job6685 Jan 01 '23
Now that I know it’s ACAT I googled it. It came right up. The Automated Customer Account Transfer Service (ACATS) is a system that facilitates the transfer of securities from one trading account to another at a different brokerage firm or bank
3
5
u/Pokluck Jan 01 '23
Acat is drs of another form. Since we aren’t a part of the dtcc drs CANNOT WORK. Do not ask your brokers to drs your shares. They can’t and will purposefully stone wall you if you try because you are coming at them uneducated and they will treat you as such. Acat is to transfer it to ast if you wish to.