Cash sweep processing physically moves a cash balance to a sweep asset position, where it maintains principal and income amounts. The system can then process accruals against the sweep asset position. If you use cash segregation, you can use cash sweep processing to sweep the segregated cash balance from a cash account into a Money Market or other interest bearing account.

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Set Up Cash Sweeps

When you use cash segregation, setup for cash sweeps occurs at the cash account level. Each individual cash account associated with an entity can have different processing parameters. Each individual cash account can have the ability to sweep. For each cash account you sweep, you define the sweep instrument along with the minimum balance to sweep. The cash sweep process then sweeps individual cash balances into custody level holdings where they accrue interest if the STIF instrument is an interest bearing asset. The system maintains principal and income balances throughout the cash sweep process.

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The Short Term Invest Fund (STIF) Vehicles chapter of the Fixed Income Processing User Guide provides detailed information about how to set up cash account-level cash sweeps when you use cash segregation.

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Process and Report on Cash Account-Level Cash Sweeps

You use the global Run Cash Sweep panel in the Global Process workspace to process cash sweeps. During cash sweep processing at the cash account level,  the system creates sweep open and close transactions. It creates holdings for the new sweep asset on all accounting bases for the entity based on what was linked to the cash account you are sweeping.

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