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07/03/2017 10:44:14
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Börse Frankfurt News

Money market funds with shorter settlement launched

Five BlackRock Institutional Cash Series plc money market funds are now tradable on Xetra.
7 March 2017. FRANKFURT (Börse Frankfurt). 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.

With the issue of the new money market funds, trading members have the opportunity to expand their infrastructure by T+1 settlement to offer trading these products to their clients.

7 March 2017, © Deutsche Börse AG

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