SAN FRANCISCO, April 2, 2015 /PRNewswire/ — Institutional Cash Distributors (ICD) announced it has reached an agreement with StoneCastle Cash Management, LLC (“StoneCastle”) to distribute its Federally Insured Cash Account (“FICA®”) product through ICD’s global SaaS trading platform, ICD Portal™.
FICA®, a leading non-term FDIC insured vehicle for institutions, meets the needs of institutional investors by striving to achieve competitive yields among FDIC insurance products and providing twice-weekly liquidity. Jeff Jellison, ICD CEO Americas said, “Basel III regulations and future MMF reform are pushing corporate treasury to broaden their asset allocation strategies. StoneCastle’s FICA® product is an excellent product addition as it enables institutions to have the ability to enhance their overall portfolio return while reducing risk and providing twice-weekly liquidity. The integrated solution will provide ICD’s Fortune 500 clients the opportunity to efficiently access the FICA® product and have the client FICA® positions included in ICD Portal’s comprehensive analytics.”
Eric Lansky, President, StoneCastle Cash Management said, “We are excited to have StoneCastle’s FICA® product available on the ICD Portal. Bringing the leading FDIC insured cash solution to one of the world’s largest portals ensures all treasurers have the opportunity to safely enhance the yield of their cash without liquidity restrictions associated with a term product.”
About StoneCastle Cash Management, LLC:
StoneCastle Cash Management, LLC is a premier provider of liquidity and cash management solutions servicing the nation’s leading community banks, corporations, municipalities, public funds, foundations, endowments, hedge funds, wealth management and private equity firms. StoneCastle Cash Management, LLC is an investment adviser registered with the SEC. For more information regarding the firm, please see its Form ADV Parts 1 and 2A on file with the SEC. Registration with the SEC does not imply a particular level of skill or training. StoneCastle Cash Management, LLC is a wholly owned subsidiary of StoneCastle Partners, LLC. StoneCastle Partners, LLC was founded in 2003 and is one of the largest managers of investment funds and providers of advisory services dedicated to the U.S. banking sector. For more information visit www.stonecastle.com.
ICD is treasury’s trusted, independent portal provider of money market funds and other short-term investments. We bring together the treasury investment community and the market’s fund companies to deliver unbiased access to over 300 investment products, leading market experts, and intuitive technology. Our award-winning ICD Portal is a model in the industry for trading, reporting and analysis. Focused solely on the needs of the treasury investment community, ICD is always putting Treasury First. Our expert service is offered through our Global Trading Desk, spanning London, Boston and San Francisco.