Manage Cash Sweeps

Eagle's Accounting solution allows you to process cash sweeps. With cash sweep processing, you can process a purchase or sale of a Short Term Invest Fund (STIF) vehicle for cash balance. The system can “sweep” the current base currency cash balance into a Short Term Investment Fund/Vehicle. If you use cash segregation, you can use cash sweep processing to sweep the cash balance from a cash account into a Money Market or other interest bearing account.

During a cash sweep, Eagle Accounting does not oversell the STIF vehicle and create a technical short position, but rather simply sells out the STIF and brings it to a zero position. You can perform a cash sweep for a sweep asset that is a Short Term Investment Fund/Vehicle with a processing security type of either STIF (DBSTST) or Mutual Fund (EQEQMF).