First Clearing Money Markets

During the download, transactions and positions sent for money markets do not include a symbol or cusip, so they cannot be identified as to which money market asset should receive the transaction.

This is usually not a problem unless a second money market has been started before the first has been closed.  In this case, the system can become confused.

During the download the system will add a line to the exception report that identifies the account containing the two money markets.

The transaction will be posted.

Users should inspect the account and determine if:

1.There are really 2 open money markets.  If not, close one of them and determine the amount of funds in the open money market.

2.Make any adjustments needed to one or both of the money markets by entering transactions manually to adjust the balances.

We have verified the fact that no identification of the asset is sent with the money market records.  When there is only one money market active in the account, there is no problem.