Corporate Assets in Money Market Funds Grew 38% Y/Y in 2019
SAN FRANCISCO, March 5, 2020 /PRNewswire/ -- ICD, corporate treasury's trusted independent portal provider of money market funds and other short-term investments, closed 2019 with its strongest quarter ever, ending the year with 24% revenue growth. The Q4 average daily balance of corporate treasury investments on ICD Portal grew 38% year-over-year, outpacing the market's 21% increase in institutional money market fund use tracked by the Investment Company Institute (ICI).
"Growth in assets as well as in the number of clients on ICD Portal demonstrates treasury's need for greater access, visibility and control over cash and short-term investments," says ICD Chief Executive Officer Tory Hazard. "Our growth confirms corporates' preference for independent providers, unbiased fund selection, investment risk analysis and consolidated reporting. We will continue to deliver the leading-edge technology and excellent service the corporate investment community has come to rely on from ICD. It's all we do."
In 2019 ICD was recognized with Treasury Today magazine's Adam Smith Award for Best Fintech Solution alongside Cisco for innovation of ICD's AutoPay automated settlement solution. ICD was also named Best Portal Technology Solution by TMI magazine and received four patents during the year. In addition to its award-winning technology, ICD also has a reputation for excellent service, which has kept its client retention above 99%. ICD clients include the world's largest corporations from the Fortune 1000 and FTSE 350.
ICD provides access to over 300 money market funds from more than 30 fund companies. Through one, secure platform, clients research, trade, settle and report on money market funds and other investments, such as:
- Time Deposits
- Short Duration Bond Funds
- Federally Insured Cash Accounts (FICA®)
- Federally Insured Brokered CDs
- Direct Commercial Paper
Having operated as a dedicated technology provider for over 17 years, ICD offers out-of-the-box integrations with all the major treasury management systems (TMS), ERPs and reporting tools that make up the global treasury ecosystem.
ICD Portal is the leading independent solution for trading, reporting and analytics of institutional money market funds and other short-term investments. Since its inception in 2003, ICD has made an uncompromising commitment to delivering superior products and extraordinary service to its clients.
ICD Media Contact
+1 646.581.3277 [email protected]
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