Cash Sweep and Money Market Funds

Through our clearing Firm, Legent Clearing, TradeKing offers its customers the ability to sweep uninvested cash into an income producing investment. If you have not requested a money market sweep yet and wish to take advantage of this service, please send us a request via email at service@tradeking.com.

Please follow the links below for an overview of your sweep investment options, including the newly introduced Legent FDIC Insured Sweep Deposit Account ("FDIC Sweep"). The Legent FDIC Insured Sweep Deposit Account provides the security of an FDIC insured account with the same functions and features of a typical money market sweep offering. Through utilization of multiple banks the FDIC Insured Sweep Deposit Account is insured up to $1 million.

Sweep Options: FDIC Insured Money Fund (default sweep option) - Yield: 0.90% - interest is credited daily (book entry will be displayed monthly). - Insurance: The deposit account is FDIC Insured up to $1 million per TradeKing account.  The money balances are held directly with the participating banks within the Legent program. Your funds will be insured up to $100,000 at each participating bank, including funds you may already independently own at the bank. Click here for a disclosure and more information. Other available Reserve Funds: - Interstate Tax-Exempt Fund / R (RISXX) - (approx. yield 0.77%): More Info - US Treasury Fund Class R (RUTXX) - (approx. yield 0.27%): More Info

Money Market Fund Changes and Important Dates
Legent Clearing Money Market Sweep Options Effective May, 2006
Legent Money Market and Insured Deposit Rates Feb, 2008