IEF2 Program
Explore which U.S. government money market mutual funds can be used as collateral for performance bond requirements.
IEF2 Money Funds Program
CME Clearing currently supports the money market mutual funds listed below through its IEF2 Program.
IEF2 Legal Disclaimer - Investments in money market mutual funds under the CME IEF2 Program are not guaranteed by CME or any other entity. Please read the prospectus carefully before investing in any money market mutual fund. CME is not responsible for any investor's compliance with regulations applicable to it when making this investment.
| Name of Fund | WAM | Total Fund Assets | Date Last Updated |
|---|---|---|---|
| BlackRock FedFund - Institutional Shares Ticker: TFDXX Fund contact: Bonnie Nichols (215) 219-0917 |
41 | $177.2 Billion |
12/19/2024 |
| BlackRock T-Fund - Institutional Shares Ticker: TSTXX Fund contact: Bonnie Nichols (215) 219-0917 |
40 | $112.5 Billion | 12/19/2024 |
| DWS Government Money Market Series - Institutional Shares Ticker: ICAXX Fund contact: John DeNuzzo (212) 454-8569 |
18 |
$40.0 Billion | 12/19/2024 |
|
Dreyfus Government Cash Management |
33 | $133.5 Billion | 12/19/2024 |
| Dreyfus Treasury Obligations Cash Management - Institutional Shares Ticker: DTRXX Fund contact: Kevin Brown (212) 922-8920 |
37 | $49.2 Billion | 12/19/2024 |
| Federated Hermes Government Obligations Fund - Institutional Shares Ticker: GOIXX Fund Contact: Scott Holick (412) 288-8558 |
33 | $169.0 Billion | 12/19/2024 |
| First American Government Obligations Fund - Institutional Shares Ticker: FPPXX Fund Contact: Marty Kerger (980) 417-4151 |
38 | $100.5 Billion | 12/19/2024 |
| First American Treasury Obligations Fund - Institutional Shares Ticker: FUPXX Fund Contact: Marty Kerger (980) 417-4151 |
38 | $51.4 Billion | 12/19/2024 |
| Goldman Sachs Financial Square Government Fund - Institutional Shares Ticker: FGTXX Fund Contact: Tom Loukas (312) 655-5211 |
42 |
$263.2 Billion |
12/19/2024 |
| Goldman Sachs Financial Square Treasury Obligations Fund - Institutional Shares Ticker: FTOXX Fund Contact: Tom Loukas (312) 655-5211 |
45 |
$48.1 Billion | 12/19/2024 |
| HSBC U.S. Government Money Market Fund- Class I Ticker: HGGXX Fund Contact: Don Cooley (781) 658-0145 |
38 | $39.0 Billion | 12/19/2024 |
| JPMorgan U.S. Government Money Market Fund - Capital Shares Ticker: OGVXX Fund contact: Clare O'Malley (212) 464-0512 |
39 | $297.0 Billion | 12/19/2024 |
| JPMorgan U.S. Treasury Plus Money Market Fund - Capital Shares Ticker: JTCXX Fund contact: Clare O'Malley (212) 464-0512 |
47 | $43.4 Billion | 12/19/2024 |
| Morgan Stanley Institutional Liquidity Government Portfolio - Institutional Class Ticker: MVRXX Fund contact: Michael Kaicher (212) 296-0958 |
43 | $185.2 Billion | 12/19/2024 |
| Morgan Stanley Institutional Liquidity Treasury Portfolio - Institutional Class Ticker: MISXX Fund contact: Michael Kaicher (212) 296-0958 |
49 | $33.4 Billion | 12/19/2024 |
| State Street Institutional Treasury Plus Money Market Fund - Institutional Shares Ticker: SAJXX Fund contact: Mike Bucci (267) 797-0883 |
44 | $52.8 Billion | 12/19/2024 |
| State Street Institutional U.S. Government Money Market Fund - Institutional Shares Ticker: SAHXX Fund contact: Mike Bucci (267) 797-0883 |
42 | $171.3 Billion | 12/19/2024 |
|
UBS Select Government Institutional Fund |
36 | $26.9 Billion | 12/19/2024 |
| UBS Select Treasury Institutional Fund Ticker: SETXX Fund contact: Tom Cameron (212) 882-5254 |
37 | $42.6 Billion | 12/19/2024 |
| Western Asset Institutional Government Reserves Fund Ticker: INGXX Fund contact: John Bonczek (212) 601-6183 |
37 | $24.7 Billion | 12/19/2024 |
IEF2 Eligibility
CME Clearing supports the government money market mutual funds listed below through its IEF2 Program. See the IEF2 diversification policy for more on requirements and limits related to eligible investment.
IEF2 Legal Disclaimer - Investments in money market mutual funds under the CME IEF2 Program are not guaranteed by CME or any other entity. Please read the prospectus carefully before investing in any money market mutual fund. CME is not responsible for any investor's compliance with regulations applicable to it when making this investment.
| Name of Fund | Customer Segregated | Firm Non-Segregated | Cleared Swaps Customer |
|---|---|---|---|
| BlackRock FedFund Ticker: TFDXX |
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|
BlackRock T-Fund |
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| DWS Government Money Market Series Ticker: ICAXX |
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| Dreyfus Government Cash Management Ticker: DGCXX |
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| Dreyfus Treasury Obligations Cash Management Ticker: DTRXX |
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| Federated Hermes Government Obligations Fund Ticker: GOIXX |
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| First American Government Obligations Fund Ticker: FPPXX |
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| First American Treasury Obligations Fund Ticker: FUPXX |
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| Goldman Sachs Financial Square Government Fund Ticker: FGTXX |
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| Goldman Sachs Financial Square Treasury Obligations Fund Ticker: FTOXX |
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| HSBC U.S. Government Money Market Fund Ticker: HGGXX |
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| JPMorgan U.S. Government Money Market Fund Ticker: OGVXX |
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| JPMorgan U.S. Treasury Plus Money Market Fund Ticker: JTCXX |
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| Morgan Stanley Institutional Liquidity Government Portfolio Ticker: MVRXX |
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| Morgan Stanley Institutional Liquidity Treasury Portfolio Ticker: MISXX |
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| State Street Institutional Treasury Plus Money Market Fund Ticker: SAJXX |
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| State Street Institutional U.S. Government Money Market Fund Ticker: SAHXX |
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| UBS Select Government Institutional Fund Ticker: SEGXX |
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| UBS Select Treasury Institutional Fund Ticker: SETXX |
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| Western Asset Institutional Government Reserves Fund Ticker: INGXX |
IEF2 Diversification Policy
Investment requirements and limits
The combined investment of the cleared swaps customer, customer segregated, and house non-segregated performance bond cash for each clearing member will be subject to the following requirements:
- Total investments of less than $100 million: no diversification requirements.
- Total investments greater than $100 million but less than $200 million: maximum investment limit of $100 million in any one fund.
- Total investments greater than or equal to $200 million: a 50% maximum investment in any one fund.
Additional requirements
CME Clearing will continue to require firms to adhere to the following:
- The maximum investment in any single fund shall be the lesser of 5% of the specific fund’s AUM, or $1.5 billion. The percentage limit is calculated on a routine basis and is based on the fund’s reported asset balances. Fund asset balances used in the calculation can be found on the CME IEF2 Money Funds Program section of this page.
- The aggregate limit in any one fund, inclusive of the IEF2 program and CME Clearing investments of cash on deposit from clearing members, may not exceed 10% of that fund’s AUM. If deposits exceed this threshold, CME Clearing will reduce or reject the investment of the last firm's deposit.
IEF2 Prospectus Information
Below are links to the current prospectus, semi-annual report, and annual report information of some of the money market mutual funds supported by CME Clearing through its IEF2 Program. Links shown reflect the actual date of the report.
IEF2 Legal Disclaimer - Investments in money market mutual funds under the CME IEF2 Program are not guaranteed by CME or any other entity. Please read the prospectus carefully before investing in any money market mutual fund. CME is not responsible for any investor's compliance with regulations applicable to it when making this investment.
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