ACT (Nasdaq)

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ACT, or Automated Confirmation of Transactions, is a system for reporting and clearing trades in the over-the-counter (OTC) and NASDAQ securities markets.{{Cite web |title=Automated Confirmation Transaction Service (ACT) Overview |url=https://www.investopedia.com/terms/a/act.asp |access-date=2024-07-23 |website=Investopedia |language=en}}{{Cite web |title=NASDAQ systems and programs |url=https://www.sec.gov/pdf/nasd1/6000ser.pdf |website=sec.gov}} In contrast to Qualified Special Representative (QSR) clearing via the National Securities Clearing Corporation (NSCC), which requires multiple relationships between brokers, dealers, and clearing firms, ACT facilitates and simplifies the process of clearing by providing a single counterparty to 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.{{Citation needed|date=July 2024}}

The Financial Industry Regulatory Authority (FINRA) also refers to ACT as the Trade Reporting Facility (TRF).