Money Market Fund Trading

What is a Money Market Fund (MMF)?

A Money Market Fund is a type of mutual fund that invests in short-term, high-quality, low-risk debt instruments such as Treasury bills, commercial paper, and certificates of deposit. The primary objective is to offer a safe, liquid investment option with a modest return, making it suitable for holding cash-equivalent assets.

What is the 7-Day Annualized Yield?

The 7-Day Annualized Yield is a financial metric that measures the annualized return of an investment over a 7-day period. This metric helps investors compare short-term yields to annual returns, offering a consistent way to assess potential earnings from different investments, particularly those with short maturities or fluctuating daily returns.

Calculation:

7-Day Annualized Yield (%) = (Reinvestment NAV on Day T8 − Reinvestment NAV on Day T1) ÷ Reinvestment NAV on Day T1 ÷ Number of Natural Days × 365 × 100%

Where can I trade Money Market Funds?

Trading MMFs is available exclusively on the Webull mobile app.

How do I sign the MMF Agreement before trading?

Before you can begin trading MMFs, you must first sign the MMF Agreement. To do so, follow these steps:

App:

1. Open the Webull mobile app.
2. Navigate to the Money Market Funds (MMF) section.
3. Review and acknowledge the MMF Agreement when prompted.

Once the agreement is signed, you’ll be able to trade MMFs directly through the app.

What Money Market Fund symbols are tradeable?

• PRCXX
• TISXX
• GTSXX

What are the order requirements and restrictions for MMFs?

• The minimum order amount is $1, with no maximum limit.
• MMFs are only available to U.S. citizens with Cash, Margin, or IRA accounts.
• To cancel a pending MMF order, you must do so before 1:00 PM EST.
• Orders placed before 1:00 PM ET are filled and credited to your account's buying power as settled funds the same day at 1:30 PM ET.
• Orders placed after 1:00 PM ET are filled and credited to your account's buying power as settled funds the next business day at 1:30 PM ET.
• Funds are available for withdrawal the next business day if redeemed before 1:00 PM ET, or two business days if redeemed after 1:00 PM ET. For example, an order placed after 1:00 PM ET on Monday will have funds available for withdrawal on Wednesday.
• MMF positions become marginable 30 days after purchase with a 5% maintenance requirement.

How do I subscribe to an MMF?

App:

1. Tap the Markets tab at the bottom of the screen.
2. Under Discover, select MMF.
3. Choose the MMF you want to purchase.
4. Tap the blue Trade button.
5. Enter the Purchase Amount.
6. Tap Review.
7. Tap Confirm at the bottom of the order confirmation screen.

How do I redeem an MMF?

App:

1. Tap Account (bottom center).
2. Select the account that holds the MMF.
3. Under Assets, in My Positions, tap the MMF.
4. Select Redeem.
5. Enter the quantity you would like to redeem.
6. Tap Review.
7. Tap Confirm to submit the redemption request.

When is interest credited on MMFs?

Interest is credited at the end of the first business day of each month and becomes available on the following business day.

What funds can I use to place an MMF order?

You can only use your available-to-withdraw amount to place an MMF order. If you've recently made a deposit, you'll need to wait for the settlement and holding period (T+5) to pass before those funds become eligible for MMF trading.

Are there any fees for MMF transactions?

Webull does not charge any fees for MMF transactions. However, Federated, our third-party MMF provider, may impose certain fees. You can find full details on fees and fund-specific charges in the Prospectus for each MMF.

Can MMF positions be transferred?

MMF positions cannot be transferred into or out of your Webull account. This includes both internal transfers and ACAT (Automated Customer Account Transfer) requests.