# Money market funds ## Buying and selling ``` Purchase Process: 1. Institutional Client initiates Fedwire for purchase 2. Custodian receives Fedwire in clearing account 3. Global Cash Services creates case upon receipt of wire 4. TA (Transfer Agent) reconciles transaction with wired funds received 5. Treasury/Fund Accounting initiates wire from clearing to fund account 6. Custodian receives wire into fund account Liquidation Process: 1. TA creates case for outgoing wire 2. Global Cash Services initiates wire to the client 3. Treasury/Fund Accounting initiates wire from fund account to clearing account 4. Custodian fund account wires to clearing account 5. Custodian clearing account wires to client 6. Institutional Client receives wire ``` ## Intercompany ``` TRADITIONAL MONEY MARKET FUND 1 Unit A initiates MMF redemption 2 Unit A approves MMF redemption 3 MMF redemption settlement (T+0 or T+1) 4 Unit A confirms MMF proceeds landed in bank 5 Unit A initiates MMF payment to Unit B 6 Unit A approves payment to Unit B 7 Unit B receives payment, initiates MMF purchase and associated payment 8 Unit B approves MMF purchase and associated payment 9 Funds arrive at MMF, begin earning interest (T+0 to T+1) TOKENIZED MONEY MARKET FUND 1 Unit A initiates transfer of MMF tokens to Unit B 2 Unit A approves transfer of MMF tokens to Unit B 3 Funds arrive in Unit B's wallet and start earning yield instantly, with no yield lost during transaction ``` --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.xft.finance/learn/flows/money-market-funds.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.