IEF2 Program

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.

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.

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.

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.