A press release titled, "Texas Capital Launches Government Money Market Exchange Traded Fund" claims, "Texas Capital Bank Private Wealth Advisors, a subsidiary of Texas Capital Bank, and the Texas Capital Funds Trust today announced the launch of the Texas Capital Government Money Market ETF (MMKT).... This innovative and first-of-its-kind ETF will hold highly liquid, short-term U.S. government debt instruments and cash equivalents, providing an exchange-traded investment option for investors focused on managing credit risk and preserving capital. The MMKT ETF is the latest fund launched by Texas Capital ETF & Funds Management.... Complementing Texas Capital's other funds, the MMKT ETF is designed to provide investors with a government money market fund in the form of an ETF, combining the intraday liquidity and flexibility of an ETF with the risk and return characteristics of a money market fund." Daniel Hoverman, Head of Corporate & Investment Banking at Texas Capital, comments, "With the substantial changes in the interest rate environment over the last few years, the Texas Capital Government Money Market ETF offers an exciting alternative for investors. As the first ETF committed to following Rule 2a-7, the provision of the Investment Company Act of 1940 that governs money market funds, Texas Capital believes the combination of the tradability of an ETF and the structure of a money market fund will prove an important investment alternative for investors looking to manage liquidity, volatility and credit risks in their securities portfolio." The release adds, "The Texas Capital Government Money Market ETF seeks to provide as high a level of current interest income as is consistent with maintaining liquidity and stability of principal while following Rule 2a-7.... The Texas Capital Funds Trust is a Delaware statutory trust formed in 2023 and registered as an open-end management investment company under the Investment Company Act of 1940."

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