Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
DERKACHT GREGORY D
  2. Issuer Name and Ticker or Trading Symbol
TRANSACTION SYSTEMS ARCHITECTS INC [TSAI]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Vice President
(Last)
(First)
(Middle)
224 S. 108 AVENUE
3. Date of Earliest Transaction (Month/Day/Year)
02/21/2006
(Street)

OMAHA, NE 68154
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/21/2006   M   1,900 A $ 11.86 1,900 D  
Common Stock 02/21/2006   S   1,900 D $ 30.4468 (1) 0 D  
Common Stock 02/22/2006   M   46,798 A $ 9.8 46,798 D  
Common Stock 02/22/2006   S   46,798 D $ 30.019 (2) 0 D  
Common Stock 02/23/2006   M   100 A $ 11.86 100 D  
Common Stock 02/23/2006   S   100 D $ 30.2213 (3) 0 D  
Common Stock 02/23/2006   M   1,600 A $ 9.8 1,600 D  
Common Stock 02/23/2006   S   1,600 D $ 30.2213 (3) 0 D  
Common Stock 02/23/2006   M   3,202 A $ 9.8 3,202 D  
Common Stock 02/23/2006   S   3,202 D $ 30.2213 (3) 0 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) $ 9.8 02/22/2006   M     46,798   (4) 02/19/2012 Common Stock 46,798 $ 0 4,802 D  
Non-Qualified Stock Option (right to buy) $ 9.8 02/23/2006   M     1,600   (5) 02/19/2012 Common Stock 1,600 $ 0 3,202 D  
Non-Qualified Stock Option (right to buy) $ 9.8 02/23/2006   M     3,202   (4) 02/19/2012 Common Stock 3,202 $ 0 0 D  
Non-Qualified Stock Option (right to buy) $ 11.86 02/21/2006   M     1,900   (6) 01/02/2012 Common Stock 1,900 $ 0 100 D  
Non-Qualified Stock Option (right to buy) $ 11.86 02/23/2006   M     100   (6) 01/02/2012 Common Stock 100 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
DERKACHT GREGORY D
224 S. 108 AVENUE
OMAHA, NE 68154
      Executive Vice President  

Signatures

 By: /s/ Victoria H. Finley, Attorney in Fact For: Gregory D. Derkacht   02/23/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The sale price ranged from $30.05 to $30.80, with a weighted average sale price of $30.4468.
(2) The sale price ranged from $29.90 to $30.14, with a weighted average sale price of $30.019.
(3) The sale price ranged from $30.00 to $30.38, with a weighted average sale price of $30.2213.
(4) The options vest in equal annual installments over a 4 - year period commencing February 19, 2002. This vesting schedule was subject to acceleration based upon the achievement of certain financial criteria; however, the criteria were not met and, accordingly, the options vest on an annual basis over a 4 - year period. The options reported as exercised herein were vested prior to exercise.
(5) The options vest in equal annual installments over a 3 - year period commencing February 19, 2002. The options reported as exercised herein were vested prior to exercise.
(6) The options vest in equal annual installments over a 3 - year period commencing January 2, 2002. The options reported as exercised herein were vested prior to exercise.
 
Remarks:
Transaction Systems Architects, Inc. ("TSA") issued a press release dated September 28, 2004  announcing Mr. Derkacht's plans to retire from TSA not later than June 30, 2006, which press release was attached as an exhibit to TSA's Current Report on Form 8-K dated September 29, 2004.  The transactions reported herein are in contemplation of Mr. Derkacht's planned retirement.

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