Fund and Bank Support

The platform was formally launched in January 2008; initially covering AAA-rated USD, GBP and EUR money market funds. Deposits and short term loans, then ECP will be brought onto the platform during 2008.

On the money market fund side we already have agreement to participate from 21 of the major fund providers and we are in the process of meeting another 5 key players with a view to bringing them on board as well. None of the 25 fund providers that have seen MyTreasury has decided against participating on the platform – 4 are still in the process of reaching internal agreement and the rest have confirmed their participation.

Initial discussions have also been completed with 25 major banks to assess their level of support for the initiative and their willingness to participate on the platform in the deposits and short term loans arena. As existing, and highly satisfied, clients of ICAP they have unanimously confirmed their interest in the platform and a number of them are now actively working with the MyTreasury team to finalise the deposit and short term loan capabilities.