Claymore Premium Money Market ETF is moving to T+1 settlement full-time as of April 1, Claymore Investments, Inc. announced Tuesday.

Moving to T+1 settlement will allow investors the ability to buy and sell the fund on terms aligned to buying and selling other money market securities and money market mutual funds, Claymore says.

“We have worked hard with the Toronto Stock Exchange to be able to provide this feature. T+1 settlement makes Claymore Premium Money Market ETF a stronger cash alternative trading vehicle, and being able to be the first to provide this on any stock on the TSX is a great accomplishment.” says Som Seif, president and CEO, Claymore Investments, Inc.

Investors will now have access to the cash proceeds of sales on a T+1 basis as opposed to a T+3 basis. All other Claymore ETFs will remain on a T+3 settlement schedule.

IE