Bankers Automated Clearing Services

 

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Bankers Automated Clearing Services

BACS is an APACS clearing company which provides an automated clearing service for payments originated by Settlement Members or those they sponsor.



Similar Matches

Automated Order System (AOS)

Automated Order System (AOS)

Investment banks, computerized order entry system that sends single order entries to DOT (Odd-Lot) or to investment banks, floor brokers on the exchange. See: Round lot, GTC orders.


Automated Pit Trading (APT)

Automated Pit Trading (APT)

Introduced in 1989, APT is the LIFFE screen-based trading system that replicates the open outcry method of trading on screen. APT is used to extend the trading day for the major futures contracts as well as to provide a daytime trading environment for non-floor trading products.


Automated Clearing House (ACH)

Automated Clearing House (ACH)

A collection of 32 regional electronic interbank networks used to process transactions electronically with a guaranteed one-day bank collection float.


Clearing House Automated Payments System (CHAPS)

Clearing House Automated Payments System (CHAPS)

A computerized clearing system for sterling funds that began operations in 1984. It includes 14 member banks, nearly 450 participating banks, and is one of the clearing companies within the structure of the Association for Payment Clearing Services (APACS).


Automated bond system (ABS)

Automated bond system (ABS)

The computerized system that records bids and offers for inactively traded bonds until they are cancelled or executed on the NYSE.


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