ICD, the independent portal provider of money market funds (MMFs) and other short-term investments, closed 2019 with its strongest quarter ever, ending the year with 24% revenue growth. The Q4 average daily balance of corporate treasury investments on ICD Portal grew 38% year-over-year, outpacing the market’s 21% increase in institutional MMF use tracked by the Investment Company Institute (ICI).
“Growth in assets as well as in the number of clients on ICD Portal demonstrates treasury’s need for greater access, visibility and control over cash and short-term investments,” said Tory Hazard, ICD’s CEO. “Our growth confirms corporates’ preference for independent providers, unbiased fund selection, investment risk analysis and consolidated reporting.”
ICD provides access to over 300 MMFs from more than 30 fund companies. Through a secure platform, clients can research, trade, settle and report on MMFs and other investments, including time deposits, short duration bond funds, and direct commercial paper, among others.
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