Deutsche Börse AG launches trading of money market funds with shorter settlement period of T+1

Release date: 06 Mar 2017 | Deutsche Börse

Deutsche Börse AG launches trading of money market funds with shorter settlement period of T+1

Five BlackRock Institutional Cash Series plc money market funds are tradable on Xetra

From today on money market funds with a shorter settlement period of T+1 are tradable via Xetra. These products are therefore the first class of securities for which transactions are settled on the trading day following order execution. All other classes of securities in exchange trading currently have a settlement period of T+2. The new offering addresses the particular trading and settlement conventions of money market funds.

The five money market funds were issued by BlackRock Institutional Cash Series plc and invest in a broad spectrum of fixed income securities and money market instruments with short term maturities. The funds may also invest in deposits with credit institutions. The funds’ investment objectives are to generate returns similar to those on the money market.

The assets of the sub-funds “Institutional Euro Liquidity Fund”, “Institutional Euro Assets Liquidity Fund” and “Institutional Euro Government Liquidity Fund” are denominated in euros, and those of the sub-funds “Institutional US Dollar Liquidity Fund” and “Institutional US Treasury Fund” in US dollars. Subject to the investment policy of each fund, the assets may also be issued or guaranteed by the US government, the governments of member states of the EU or the governments of countries that were members of the euro zone at the time of purchase. All funds are accumulating funds.

You can find a product overview in the attached document.

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