With actual Fed Funds at the 0.23% level for 5 days IB customers are getting zero interest paid on their cash. Sure would be nice to have money market funds available.
I agree as long as the money market fund is insured and I can get the cash out on a dollar for dollar basis. If the US government is insuring the money markets for $250,000.00, that would at least cover cash up to that amount.
This is not good. They now have mutual funds . They'd have to set up a fund with an automatic sweep feature. At this rate their customers are losing MILLIONS a month