Institutional Cash Distributors (ICD) was formed in May 2003 by three veteran institutional sales professionals. The three founders (2 of which were most recently with Deutsche Bank, the other with JP Morgan Chase) have each specialized in the sale of short term institutional investments to the corporate treasury marketplace for the last 15 years. ICD was established as a division of their fourth equal partner; Merriman Curhan Ford & Co. (MCF & Co.). MCF & Co. is a San Francisco headquartered Broker Dealer, member NASD/SIPC, and is a wholly owned subsidiary of publicly traded MCF Corporation. (AMEX: MEM).
In the four years since ICD began operations, they have grown internationally and now operate an additional trading desk in London, England. ICD services over $20 billion in investments and represents more than 150 institutional clients.
ICD is an internet based institutional money fund portal that offers its clients the ability to invest in over 80 different institutional money funds in at least three currencies. Clients investing through ICD pay no more for their investments than if they invest in funds directly. ICD generates revenue by sharing in the fees of the funds that they distribute. ICD was created on the premise that its clients could receive the best performance available to institutions, and could not get a more competitive yield by investing directly with one of the funds that they distribute. ICD aspires to maximize selection and create operational efficiencies.
In an industry of commoditized products and services, ICD separates itself as an independent provider. ICD offers its clients the ability to invest on a fully disclosed basis with the funds of their choice. Other advantages that have helped make ICD one of the fastest growing portals are:
• True one-stop source for institutional money fund investments
• One application
• Multiple transactions
• One wire
• One consolidated statement
• Dedicated trade desk
• Customized reporting
• Trade method flexibility
• Global capabilities
• FX capacity and straight through processing at the treasury workstation level
• Trading desks in multiple time zones