Money market fund

The Jolly Contrarian’s Glossary
The snippy guide to financial services lingo.™


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CASS Anatomy™


IMPORTANT: CASS changed quite a bit after MiFID II. This resource therefore may well be out of date, even if it was accurate once, which it might not have been. This is an article about the FCA’s custody and client money rules — client assets — and is fondly known by its chapter in the FCA SourcebookTable of Contents | 1 | 1A | 3 | 5 | 6 (custody rules) | 7 (client money rules) | 7A | 8 | 9 (PBDA) | 10

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A highly rated, extremely liquid form of investment fund, sometimes looked upon as cash-like, so much so that if you can persuade yourself it qualifies, you may hold a qualifying money market fund as client money under CASS 7 (and not a custody asset, though you could hold it as a custody asset too)

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