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{{anat|cass}} | {{anat|cass}} | ||
A [[money market fund]] that counts for {{tag|FCA}} purposes under the {{tag|CASS}} rules. Defined the CASS rules [https://www.handbook.fca.org.uk/handbook/glossary/G2422.html here]. | A [[money market fund]] that counts as {{cassprov|client money}} for {{tag|FCA}} purposes under the {{tag|CASS}} rules. Defined the CASS rules [https://www.handbook.fca.org.uk/handbook/glossary/G2422.html here]. | ||
Relevant for {{tag|CASS}} see especially {{cassprov|7.13.26}} et. seq. In terms of suitability for | Relevant for {{tag|CASS}} see especially {{cassprov|7.13.26}} et. seq. In terms of suitability for being used as ballast where there's a {{cassprov|shortfall}} under {{cassprov|6.6.54}}R. | ||
Not to be confused with an ordinary [[money market fund]] (whether or not it would—um—''qualify'' as a “qualifying” one), when it happens to be held in custody under the CASS {{cassprov|6}} [[custody]] rules. There is an important distrinction depending on you hold it. If you hold a money market fund as a qualifying money market fund under Cass {{cassprov|7}} it counts as {{cassprov|client money}} and is subject to [[Secondary pooling events - CASS Provision|secondary pooling rules]] in the client money pool. If you hold it as a normal [[safe custody]] asset under CASS {{cassprov|6}} it wont be loss-mutualised across forms of client money. |