Desk open · 09:00-17:00 ET
Cash · FX · short paper · since 2014

A treasury desk
on letterhead.

Treasury is the operating cash desk for businesses that have outgrown the sweep account at the corner bank. We ladder T-bills, hedge FX, and send a daily cash report signed by a named officer.

4-wk T-bill
5.18%
FX desk
4 currencies
Custody
Northern Trust
daily cash · 04/26/2026
09:00 ET · officer report
Total cash position
$48.27M
+$184k overnight at 5.18%
By bucket
Operating · DDA$ 4,180,420.20FDIC
Sweep · 2a-7 fund$18,470,180.005.04%
T-bill ladder · 4-13 wk$22,180,000.005.18%
GBP forward (book)£ 1,420,000.00hedged
signed · M. Nilsen, treasurer09:02 ET
Treasurers served
Northwind CapitalMercury TreasuryFoundry 47 WealthPlover & Co.Westmoore GroupCaldera FoodsBristol MarineHeron & ValeMarsh & QuillHolman & BirchNorthwind CapitalMercury TreasuryFoundry 47 WealthPlover & Co.Westmoore GroupCaldera FoodsBristol MarineHeron & ValeMarsh & QuillHolman & Birch

Three desks. One signed report by 09:00.

Cash, FX, and paper. Each desk responds in writing, on letterhead, signed by the officer in charge.

01 · Cash

Yield-bearing operating account.

Operating balance held at our partner bank, idle cash swept overnight into a Rule 2a-7 government money-market fund. Wake up earning.

Sweep yield
5.04%
Same-day
$5M
Wires / day
unlimited
02 · FX

Four currencies, four basis points.

GBP, EUR, JPY, CNH. Forwards booked, all-in, no hidden spread.

03 · Paper

T-bills, laddered to your runway.

4 / 8 / 13 / 26-week paper. Held to maturity, no mark-to-market drama.

Services

Three lines, fixed fee, on letterhead.

01

Operating cash sweep

Idle balances swept nightly into a money-market ladder. Same-day liquidity, T-bill-backed yield.

Fee
0.08% / annum
Rule 2a-7 funds
02

FX & multi-currency

Manage GBP, EUR, JPY, and CNH balances. Forward booked, hedged to policy, rate-card transparent.

Fee
0.04% per leg
ISDA-documented
03

Short-duration paper

Treasury bills and high-grade commercial paper laddered to your operating runway. Held to maturity.

Fee
0.06% / annum
T-bills · A1/P1

A treasury desk. Or the corner-bank sweep.

The yield difference, on $20M of operating cash, is the cost of one analyst.

Comparison
Treasury
Traditional bank
Yield on operating cash
5.18% (T-bill ladder)
0.04% (DDA)
FX margin
0.04% all-in
1.4% spread
Reporting
Daily, signed
Monthly statement
Custody
Northern Trust
Bank balance sheet
Account access
API + named officer
Phone tree
From treasurers
"We picked up 4.2 percentage points on $18M of operating cash. That paid for our entire G&A line."
Inés Lourenço
CFO, Caldera Foods
$4.27B
cash on desk
5.18%
4-wk T-bill · live
1,427
daily reports signed
31 yrs
combined desk experience

Engagement letter, fixed fee, signed monthly.

No spread on FX. No commission on paper. Fee on assets only.

Operator

$640
/ mo

Cash sweep and short-paper ladder for operating businesses with $1-15M in working capital.

  • Cash sweep
  • Short-paper ladder
  • Daily cash report
  • One named officer
Request engagement letter

Treasurer

most chosen
$2,400
/ mo

Full operating treasury for $15-200M in working capital with multi-currency exposure.

  • All Operator features
  • Multi-currency (4 ccy)
  • FX forwards
  • Hedge accounting export
  • Two officers
Request engagement letter

Family office

$6,400
/ mo

For multi-entity holdings managing operating, reserve, and quasi-endowment cash side by side.

  • Up to 12 entities
  • Consolidated cash
  • Trust accounting
  • Quarterly letter
  • Dedicated treasurer
Request engagement letter
Trust & compliance

The questions a CFO should answer.

Sweep balances held in money-market funds are not FDIC insured but are 100% backed by short-duration US Treasury obligations. Operating DDA balances at our partner bank are FDIC insured up to applicable limits.

Open the desk.
The first cash report lands by 09:00.

A 30-minute discovery call with a desk officer. Engagement letter follows within five business days.