Transaction Partially-acknowledged IN SIT: transaction that only certain Participants undertake to receive from certain Participants only. Transaction universally-acknowledged in SIT: transaction that all Participants are obliged to receive, regardless of the issuer. Transaction universally/partially-acknowledged in SIT: transaction (or series of transactions) that is exchanged only among certain Participants that are bound by an agreement covering the financial community. Participants thus identified are bound to receive this transaction from other parties to the agreement.