A press release entitled, "Cachematrix Now Provides Banks the Ability to Offer Their Corporate Clients Direct, Fully Disclosed Money Fund Investing through its CacheDirect Portal," says, "Cachematrix, the leading provider of money market fund, bank product trading and sweep technology for banks and financial institutions, announced today that it has launched CacheDirect, the direct to fund trading model that allows bank corporate clients direct and fully disclosed money fund investing and settlement. With growing demand by corporate clients for direct fund settlement and fully disclosed accounts Cachematrix has developed CacheDirect, a portal solution that is licensed to banks that gives them the ability to allow their corporate customers to trade fully disclosed and settle directly with top institutional funds via a customized, bank branded portal." See also, Fitch says "Rating Cash Pools Using MMF Criteria". The ratings agency writes, "Fitch Ratings is receiving increased numbers of enquiries about assigning ratings to managed cash pools or mandates. Fitch's Global Rating Criteria for Money Market Funds is applicable to these pools or mandates, with adjustments for the treatment of liquidity. Fitch has published specific guidelines it considers consistent with funds, pools or mandates rated at the 'AAAmmf', 'AAmmf' and 'Ammf' rating levels.... The rating of a cash pool is subject to the same process and surveillance as the rating of an open-ended MMF. Cash pool ratings may be assigned on a public or private basis. Managed cash pools and mandates are typically managed on behalf of a single, or infrequently, small group of investors. The interest for such products is growing in a low yield environment where the cost of holding sufficient liquidity to mitigate commingling risk is relatively high, particularly if the investor does not require daily liquidity."
