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: Molly Millet (312) 407-9992
43 $151.0 Billion

06/7/2024

BlackRock T-Fund
- Institutional Shares
Ticker: TSTXX
Fund contact: Molly Millet (312) 407-9992
42 $97.6 Billion 06/7/2024
DWS Government Money Market Series
- Institutional Shares
Ticker: ICAXX
Fund contact: John DeNuzzo (212) 454-8569
38 $35.1 Billion 06/7/2024

Dreyfus Government Cash Management
- Institutional Shares
Ticker: DGCXX
Fund contact: Kevin Brown (212) 922-8920

44 $115.6 Billion 06/7/2024
Dreyfus Treasury Obligations Cash Management
- Institutional Shares
Ticker: DTRXX
Fund contact: Kevin Brown (212) 922-8920
48 $43.2 Billion 06/7/2024
Federated Hermes Government Obligations Fund
- Institutional Shares
Ticker: GOIXX
Fund Contact: Scott Holick (412) 288-8558
39 $161.2 Billion 06/7/2024
First American Government Obligations Fund
- Institutional Shares
Ticker: FPPXX
Fund Contact: Marty Kerger (980) 417-4151
43 $86.9 Billion 06/7/2024
First American Treasury Obligations Fund
- Institutional Shares
Ticker: FUPXX
Fund Contact: Marty Kerger (980) 417-4151
45 $46.0 Billion 06/7/2024
Goldman Sachs Financial Square Government Fund
- Institutional Shares
Ticker: FGTXX
Fund Contact: Tom Loukas (312) 655-5211
30 $232.9 Billion 06/7/2024
Goldman Sachs Financial Square Treasury Solutions
- Institutional Shares
Ticker: FEDXX
Fund Contact: Tom Loukas (312) 655-5211
27 $14.5 Billion 06/7/2024
HSBC U.S. Government Money Market Fund- Class I
Ticker: HGGXX
Fund Contact: Don Cooley (781) 658-0145
43 $29.3 Billion 06/7/2024
JPMorgan U.S. Government Money Market Fund
- Capital Shares 
Ticker: OGVXX
Fund contact: Clare O'Malley (212) 464-0512
44 $256.9 Billion 06/7/2024
JPMorgan U.S. Treasury Plus Money Market Fund
- Capital Shares 
Ticker: JTCXX
Fund contact: Clare O'Malley (212) 464-0512
44 $41.0 Billion 06/7/2024
Morgan Stanley Institutional Liquidity Government Portfolio
- Institutional Class
Ticker: MVRXX
Fund contact: Michael Kaicher (212) 296-0958
42 $151.5 Billion 06/7/2024
Morgan Stanley Institutional Liquidity Treasury Portfolio
- Institutional Class
Ticker: MISXX
Fund contact: Michael Kaicher (212) 296-0958
42 $27.8 Billion 06/7/2024
State Street Institutional Treasury Plus Money Market Fund
- Institutional Shares
Ticker: SAJXX
Fund contact: Mike Bucci (267) 797-0883
46 $48.1 Billion 06/7/2024
State Street Institutional U.S. Government Money Market Fund
- Institutional Shares
Ticker: SAHXX
Fund contact: Mike Bucci (267) 797-0883
48 $133.3 Billion 06/7/2024

UBS Select Government Institutional Fund
Ticker: SEGXX
Fund contact: Tom Cameron (212) 882-5254

39 $24.2 Billion 06/7/2024
UBS Select Treasury Institutional Fund
Ticker: SETXX
Fund contact: Tom Cameron (212) 882-5254
41 $38.8 Billion 06/7/2024
Western Asset Institutional Government Reserves Fund
Ticker: INGXX
Fund contact: John Bonczek (212) 601-6183
28 $21.3 Billion 06/7/2024

 

 

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
     

BlackRock T-Fund
Ticker: TSTXX

     
DWS Government Money Market Series
Ticker: ICAXX
     
Dreyfus Government Cash Management
Ticker: DGCXX
     
Dreyfus Treasury Obligations Cash Management
Ticker: DTRXX
     
Federated Hermes Government Obligations Fund
Ticker: GOIXX
     
First American Government Obligations Fund
Ticker: FPPXX
     
First American Treasury Obligations Fund
Ticker: FUPXX
     
Goldman Sachs Financial Square Government Fund
Ticker: FGTXX
     
Goldman Sachs Financial Square Treasury Solutions Fund
Ticker: FEDXX
     
HSBC U.S. Government Money Market Fund
Ticker: HGGXX
     
JPMorgan U.S. Government Money Market Fund
Ticker: OGVXX
     
JPMorgan U.S. Treasury Plus Money Market Fund
Ticker: JTCXX
     
Morgan Stanley Institutional Liquidity Government Portfolio
Ticker: MVRXX
     
Morgan Stanley Institutional Liquidity Treasury Portfolio
Ticker: MISXX
     
State Street Institutional Treasury Plus Money Market Fund
Ticker: SAJXX
     
State Street Institutional U.S. Government Money Market Fund
Ticker: SAHXX
     
UBS Select Government Institutional Fund
Ticker: SEGXX
     
UBS Select Treasury Institutional Fund
Ticker: SETXX
     
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.

Name of Fund Prospectus SAI Semi-annual report Annual report
BlackRock FedFund

02/28/2024 (PDF)

05/22/2024 (PDF) 04/30/2023 (PDF) 10/31/2023 (PDF)
BlackRock T-Fund 02/28/2024 (PDF) 05/22/2024 (PDF) 04/30/2023 (PDF) 10/31/2023 (PDF)
DWS Government Money Market Series 05/01/2024 (PDF) 05/01/2024 (PDF)  06/30/2023 (PDF) 12/31/2023 (PDF)
Dreyfus Government Cash Management 05/31/2024 (PDF) 05/01/2024 (PDF) 07/31/2023  (PDF) 01/31/2024 (PDF)
Dreyfus Treasury Obligations Cash Management 05/31/2024 (PDF) 05/01/2024 (PDF) 07/31/2023  (PDF) 01/31/2024 (PDF)
Federated Hermes Government Obligations Fund 01/30/2023 (PDF) 09/30/2023 (PDF) 03/27/2024  (PDF) 07/31/2023 (PDF)
First American Government Obligations Fund 04/01/2024 (PDF) 04/01/2024 (PDF) 02/29/2024 (PDF) 08/31/2023 (PDF)
First American Treasury Obligations Fund 04/01/2024 (PDF) 04/01/2024 (PDF) 02/29/2024 (PDF) 08/31/2023 (PDF)
Goldman Sachs Financial Square Government Fund 04/19/2024 (PDF) 04/19/2024 (PDF) 05/31/2023 (PDF) 11/30/2023 (PDF)
Goldman Sachs Financial Square Treasury Solutions Fund 04/19/2024 (PDF) 04/19/2024 (PDF) 05/31/2023 (PDF) 11/30/2023 (PDF)
HSBC U.S. Government Money Market Fund 02/28/2024 (PDF) 05/23/2024 (PDF) 04/30/2023 (PDF) 10/31/2023 (PDF)
JPMorgan U.S. Government Money Market Fund 07/01/2023 (PDF) 07/01/2023 (PDF) 08/31/2023  (PDF) 02/29/2024 (PDF)
JPMorgan U.S. Treasury Plus Money Market Fund 07/01/2023 (PDF) 07/01/2023 (PDF) 08/31/2023  (PDF) 02/29/2024 (PDF)
Morgan Stanley Institutional Liquidity Government Portfolio 02/28/2024 (PDF) 03/23/2024 (PDF) 04/30/2023 (PDF) 10/31/2023 (PDF)
Morgan Stanley Institutional Liquidity Treasury Portfolio 02/28/2024 (PDF) 03/23/2024 (PDF) 04/30/2023 (PDF) 10/31/2023 (PDF)
State Street Institutional Treasury Plus Money Market Fund 04/30/2024 (PDF) 04/30/2024 (PDF) 06/30/2023 (PDF) 12/31/2023 (PDF)
State Street Institutional U.S. Government Money Market Fund 04/30/2024 (PDF) 04/30/2024 (PDF) 06/30/2023 (PDF) 12/31/2023 (PDF)
UBS Select Government Institutional Fund 03/04/2024 (PDF) 03/04/2024 (PDF) 10/31/2023 (PDF) 04/30/2023 (PDF)
UBS Select Treasury Institutional Fund 03/04/2024 (PDF) 03/04/2024 (PDF) 10/31/2023 (PDF) 04/30/2023 (PDF)
Western Asset Institutional Government Reserves Fund 12/29/2023 (PDF) 12/29/2023 (PDF) 02/29/2024 (PDF) 08/31/2023 (PDF)

 

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