In a ShareBuilder account, the money market cash balance is one location where all available funds get held, depending on your cash balance preference. The fancy name for the money market cash balance is RBB Money Market Portfolio (BDMXX).
Basically, if your cash sweep preference is set to 'money market fund', all of your deposits get "swept" into the money market fund.
Funds to cover purchases and proceeds from sale transactions are transferred automatically from/to the fund on the settlement date, which is 3 business days after the trade date.
Tip: Bank-only holidays such as Columbus Day and Veterans Day are not considered settlement days. To view a list of all market holidays, see our Holiday and Trading Calendar.
To find the current annualized yield if you have a money market cash balance, follow the instructions below:
- Go to Research Markets Overview.
- In the 'Get Quote' box, enter BDMXX and click Go.
- Click the Get Quote button.
- The current rate will be shown under '7-Day Yield'.