I recently migrated a few of my Autocomplete plugins from the one produced by bassistance to the jQuery UI autocomplete.
How can the \"mustMatch\" and \"selectFirst\
Here a simple definitive solution for "mustMatch" requirement:
<script type="text/javascript">
    $(function() {
        $("#my_input_id").autocomplete({
            source: '/get_my_data/',
            minChars: 3,
            select: function(event, ui) {
                // custom code
                $(this).data("pre-ui-autocomplete-value", $(this).val());
            }
        }).on("focus", function () {
            $(this).data("pre-ui-autocomplete-value", $(this).val());
        }).on("blur", function () {
            $(this).val($(this).data("pre-ui-autocomplete-value"));
        });
    });
</script>
                                                                        I'm doing it a little differently, caching the results and clearing the text field if the number of results for a certain term is zero:
<script type='text/javascript'>
function init_autocomplete( args )
{
     var resultCache = {};
     var currentRequestTerm = null;
     var closeCallback = function()
     {
         // Clear text field if current request has no results
         if( resultCache[currentRequestTerm].length == 0 )
             $(args.selector).val('');
     };
     var sourceCallback = function( request, responseCallback )
     {
         // Save request term
         currentRequestTerm = request.term;
         // Check for cache hit
         // ...
         // If no cache hit, fetch remote data
         $.post(
             dataSourceUrl,
             { ...  }, // post data
             function( response )
             {
                 // Store cache
                 resultCache[request.term] = response;
                 responseCallback( response );
             }
     };
     $(args.selector).autocomplete({
         close:  closeCallback,
         source: sourceCallback
     });
}
</script>
                                                                        Late reply but might help someone!
Considering the two events in autocomplete widget
1) change - triggered when field is blurred and value is changed.
2) response - triggered when the search completes and the menu is shown.
Modify the change and response events as follows:
change : function(event,ui)
{  
if(!ui.item){
$("selector").val("");
}
},
response : function(event,ui){
if(ui.content.length==0){
  $("selector").val("");
}
}
Hope this helps!
The solution I've used to implement 'mustMatch':
<script type="text/javascript">
...
$('#recipient_name').autocomplete({
    source: friends,
    change: function (event, ui) {
        if ($('#message_recipient_id').attr('rel') != $(this).val()) {
            $(this).val('');
            $('#message_recipient_id').val('');
            $('#message_recipient_id').attr('rel', '');
        }
    },
    select: function(event, ui) {
        $('#message_recipient_id').val(ui.item.user_id);
        $('#message_recipient_id').attr('rel', ui.item.label);
    }
}); 
...
</script>
                                                                        I found this question to be useful.
I thought I'd post up the code I'm now using (adapted from Esteban Feldman's answer).
I've added my own mustMatch option, and a CSS class to highlight the issue before resetting the textbox value.
       change: function (event, ui) {
          if (options.mustMatch) {
            var found = $('.ui-autocomplete li').text().search($(this).val());
            if (found < 0) {
              $(this).addClass('ui-autocomplete-nomatch').val('');
              $(this).delay(1500).removeClass('ui-autocomplete-nomatch', 500);
            }
          }
        }
CSS
.ui-autocomplete-nomatch { background: white url('../Images/AutocompleteError.gif') right center no-repeat; }
                                                                        I think I solved both features...
To make things easier, I used a common custom selector:
$.expr[':'].textEquals = function (a, i, m) {
    return $(a).text().match("^" + m[3] + "$");
};
The rest of the code:
$(function () {
    $("#tags").autocomplete({
        source: '/get_my_data/',
        change: function (event, ui) {
            //if the value of the textbox does not match a suggestion, clear its value
            if ($(".ui-autocomplete li:textEquals('" + $(this).val() + "')").size() == 0) {
                $(this).val('');
            }
        }
    }).live('keydown', function (e) {
        var keyCode = e.keyCode || e.which;
        //if TAB or RETURN is pressed and the text in the textbox does not match a suggestion, set the value of the textbox to the text of the first suggestion
        if((keyCode == 9 || keyCode == 13) && ($(".ui-autocomplete li:textEquals('" + $(this).val() + "')").size() == 0)) {
            $(this).val($(".ui-autocomplete li:visible:first").text());
        }
    });
});
If any of your autocomplete suggestions contain any 'special' characters used by regexp, you must escape those characters within m[3] in the custom selector:
function escape_regexp(text) {
  return text.replace(/[-[\]{}()*+?.,\\^$|#\s]/g, "\\$&");
}
and change the custom selector:
$.expr[':'].textEquals = function (a, i, m) {
  return $(a).text().match("^" + escape_regexp(m[3]) + "$");
};