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To: ridingycurve who wrote (83276)	4/19/2007 1:17:33 PM
From: upanddown	Respond to of 206325

Thanks a lot for that info on the eligibility for the institutional MMFs at Fidelity. I'm moving funds tonight into FMPXX. Kind of dumb for me not to know that. I thought there were other eligibility requirements besides balance. 23-24bps is nothing to sneeze at and I notice expenses are capped at 18bps. Thanks again, John

To: ridingycurve who wrote (83276)	4/19/2007 1:26:04 PM
From: maverick61	Read Replies (1) \| Respond to of 206325

Seven figure individual accounts qualify for the institutional money market, which currently pays 23 basis points more than Cash Reserves Are you sure about that - I thought you needed to make a minimum 7 figure investment into the institutional money market. That is different than having a 7 figure individual account. If there is a way to do it for the latter, I would love to know - 23bp is nothing to sneeze at

To: ridingycurve who wrote (83276)	4/20/2007 8:44:54 AM
From: Wyätt Gwyön	Read Replies (3) \| Respond to of 206325

thanks for mentioning the institutional cash reserves. i will check later with the borker, but in my experience settled funds violation occurs upon REPURCHASE using unsettled funds. if you buy and wait three days, you won't have a problem. if you buy on Monday, the trade settles on Thursday. if you sell Thursday or later, no problem. if you sell on Tuesday, however, you will have to wait three days from Tuesday--i.e., until Friday--before you have settled funds to make a new purchase. what you are saying, if i understand you correctly, is that you only have to wait till Thursday because Thursday is the original buy settlement date. you are also saying the sale date doesn't matter. that's not consistent with my understanding of how a settled funds violation occurs, but my understanding could be incorrect. however, now that my acct is once again in trader jail, i can definitely say that when i sell a stock, i have to wait three days from the sale before the funds are available again to trade. this is why trader jail is such a bitch. Futility made matters worse by sticking ALL my IRAs in jail, whereas Schawb only applies the pentalty to the violating acct (in my experience).