MMFUSDT
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5-10% of my NW sits in a MMF this doubles as my emergency/buy the dips money. The rest is invested. I’m young so I’m very risk on.

u/HarrySit ,
Harry,
It is mostly about how to make it easy for me (and my wife after me) to reconcile the account values for the CMA at Fidelity with the account values created in Quicken. The values and transaction records in Quicken are based on the status and transaction stream that Fidelity sends to Quicken. Unlike other FI's Fidelity does not seem to report cash or MMF holdings to Quicken. At least, not in a way in which they can agree. Fidelity seemed to report MMF sales but not MMF purchases. OR... Quicken did not recognize them... That may be fixed now. Even so, they are both able to understand and agree on what $0.00 means. It seems easier if $0.00 is consistently the final value. Otherwise, it can be a bear to reconcile.
There is a another side on it... I would prefer to minimize the funds that are held in accounts that are known or exposed to outside entities or unknowns via external direct drafts, physical checks, etc. OTOH, the overdraft protection does expose the MMF holdings in the backup account but maybe they won't know that. IDK.
Harry, are you the Financial Buff Harry Sit? If so, thank you, thank you for your insights there?

I think your assumption is correct.
But why anyone would buy into a fund with a load, I will never understand. What are you trying to achieve? Is your income so high that you need to avoid federal and state taxes?
It has a load, a relatively high expense ratio, and high turnover.
If you want some MMF options without all these problems, check out the MMF Yields tab of my [rebalance calculator](https://invest.mcawesome.org/). I list a bunch of muni ETFs that are exempt from both federal and state taxes. But enter your tax rates at the top to see what the after-tax yield is. You may still be better off paying taxes.

I keep around 1 month of funds in my checking. 18 months in MMF/emergency, and everything else is invested across a variety of stuff.

Yes. HYSA and MMF are "liquid."

Agreed.
There are two ways to utilize an HSA.
A) Treat it like a long term retirement account, and invest the funds in broadly diversified index funds over the next several decades. Then once you hit retirement age, use it to pay for medical expenses, either by keeping track of years worth of prior medical bills and then cashing them in as needed to generate income during retirement, or just to cover newly incurred medical expenses in your retirement years. This is the more financially advantageous route, and what most Bogleheads would choose to do. This way, you benefit from the tax-free investment growth over the coming decades, and then tax-free withdrawal for medical expenses later. Also note that once you hit 65 years old you can withdraw from it for any reason, but will have to pay income tax on non-medical withdrawals (just like you would from a 401k or Traditional IRA).
B) Treat it like a short term medical-only savings account. Invest it in something stable like a money market fund, then use it to pay for all of your medical expenses throughout the year. You don't benefit from the long term growth by going this route.
It's also possible to do both. For example, some people with combine the two approaches, and keep something like their health insurance deductible or max annual out of pocket in a MMF for more immediate use, while investing the rest of their HSA funds in their HSA for long term growth and use as a retirement account.
But it's typically best to cover short term medical expenses out of pocket, or out of your normal emergency fund, and take advantage of the tax-free growth between now and retirement.

What MMF are you in? If it's paying 6% I would totally move to it.

When was the last time you checked? I don’t know of any MMF that’s paying close to 6% these days.

Thanks. This seems to be only for the state-specific information for MMFs. There is a lot of other information in the Supplemental Information section that was also in the mailed paper version as well which is also needed and, for some, can be much more impactful that the state portion of a MMF.

How do you push money from Fidelity to Vanguard brokerage for settlement fund MMF?

In fidelity can also use FDLXX. US treasury MMF. Works the same as their Spaxx and can be liquidated immediately and withdrawn.

Where to put emergency fund: Fidelity MMF (approx 3.3%) or SGOV?

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Nope. Park the money in a MMF or HYSA.

This is a follow up [on my last post](https://www.reddit.com/r/wallstreetbets/comments/1omm40e/abaxx_technologies_newest_clearing_house_and/) here which goes into depth the possible value potential they have at a 50x to 100x.
A lot has happened in the last couple months so I thought I was worth to write another DD update.

**T+0 Collateral (Digital Title)**
The biggest and most exciting update was success of two of their digital title pilots with the other still pending, Currently industry values it at $0 so Abaxx is valued on the success of their exchange which on its own is worth tens of billions in my opinion as mentioned in my prior report. I believe digital title tech though is really what will drive Abaxx’s value. Cantor Fitzgerald sees it as a strong catalyst for the stock later this year when Abaxx can release their monetization framework since they were successful in the pilots but they maintain a price target of $81 CAD (+85% from here) for now.
[Cantor's Thoughts on Digital Title](https://preview.redd.it/ehvjv2ij2hjg1.png?width=758&format=png&auto=webp&s=d8c1fba53f106ad77c228165ec37ca14b1359c35)
**Money Market Funds Pilot Recap**
Abaxx was able to instantly create a transaction of a bilateral gold swap using $200k of BMO MMF funds held in a third party custodian as collateral while maintaining legally enforceable title. Normally this process would take a couple days. Because the title transfer can happen instantly, the original holder can keep it in place and still collect yield on the product. They are also in a better position to get less of a haircut on it because it moves much quicker. It basically increases the velocity of collateral in the financial system.
Abaxx is claiming their process can generate 1.5% to 2.75% in annual value creation across the $8 trillion worth of US MMF funds that exists in the world. Assuming they can get it into the hands of financial institutions. It's unclear how much they can charge but if you use 10 basis points (0.1%) as an example that would be $8 billion in annual revenue at the upper limit in just MMF funds. Which makes me point back to what Cantor said about the success of the pilots and how it will be a strong catalyst once they release their market strategy. 
It is important to keep in mind they are the first to be able to launch this and have been working on it the past 5 years. The unique selling point with them is they are backed by their globally licensed clearinghouse and exchange which they built from the ground up. So they have a strong go to market strategy. Financial institutions connecting to their exchange for futures products would inevitably also be able to access these products as a cross selling product.
**Gold Pilot Recap**
It doesn’t just stop at MMF funds though. Their tech expands to even gold stored in a warehouses via a custodian. Their pilot with Ivanhoe Capital and Kilo Capital showed this. Using Abaxx Digital Title, Ivanhoe Capital was able to pledge their gold easily to get financing with Kilo Capital with gold stored at Abaxx Spot. Abaxx Spot held the gold and handled the instant settlement process via their Digital Title tech.
Ultimately what this does, is it unlocks all the gold stored in warehouses to be used much more efficiently as collateral as they can be margin called instantly compared to the typical multi day settlement process with industry standard methods. Abaxx is also taking this one step further though with their Minehub pilot to unlock commodities in transit as collateral as well. So if a LNG tanker takes 30 days to cross the ocean, owners could pledge that cargo instantly as collateral for futures trades on their exchange as long as its managed and tracked via Minehub.
The TAM for this would be the entire commodities supply chain ranging from oil, LNG, gold, to even copper which is valued at \~$135 trillion. I believe the value creation here is significant. Advance rates for LNG cargos is around 25-30% based on some rough research. What this means is if an LNG cargo is worth $45 million, they can often only extract maybe $13.5 million in terms of loan value. If Abaxx with their digital title and Minehub can help them extract $30 million or more, you would see around 50% in value creation across that use case. Scaled up, you could maybe see trillions unlocked in terms of collateral. How much Abaxx can charge for these efficiencies is still not know yet, but whatever the number, the revenue potential is insane.
**Exchange Volumes**
On to the exchange volumes they are seeing a steady increase in exchange volumes across the contracts which [you can track here](https://abxxtracker.streamlit.app/) along with the estimated revenue daily. Keep in mind, US customer onboarding lags so while they got access to the US market back in November via the FBOT, we are still yet to see the real network effects as more traders get access to the platform.
Liquidity continues to grow, with impressive quarter over quarter growth. Their physically settled LNG contracts are well on the way to benchmark status which would be worth billions on their own. Silver should be coming soon along with rare earths with hints at the first physically delivered uranium contract. The CEO has indicated their upcoming silver contract is expected to be even more popular than their gold contracts with many participants onboarding specifically for it.
The Corsia Carbon Contract has also seen a surge in activity and is becoming more active making Abaxx the benchmark for carbon futures contract as it is the only one with liquidity.
[Abaxx Exchange Volumes](https://preview.redd.it/hzy8zy773hjg1.png?width=1240&format=png&auto=webp&s=1640953ed484437c239f1493b464a353a6629087)
The volume and revenue generated may still be still small but it's important to realize these things scale exponentially. As volume grows, it draws more volume in. A liquid LNG contract would suck up all the JKM LNG trading volume for example. A liquid gold and silver contract would suck up hedging volumes and maybe even replace the New York Futures and London Spot system currently setup as Abaxx will have a futures and spot market with same size deliveries in the same jurisdiction at the source of the main demand in Asia. This effect will be even greater once we start seeing US firms using the contracts. To give you an example you can look at the NYMEX ClearPort as it scaled exponentially over the years in terms of volume. The chart here by [James](https://x.com/James_Duade) highlights this growth with the first years of volume rather low but then grew more than 10x the following year. If Abaxx is able to replicate this growth, they could be breakeven next year already based on the exchange only. Joe Raia who was behind the Clearport launch is currently in charge of Abaxx's contract launches so the team is stacked with industry veterans who have done this before.
[Clearport Contract Growth](https://preview.redd.it/bpn4xqci3hjg1.png?width=2342&format=png&auto=webp&s=6056631359347dca6084c57242c4ff4e1984f930)
**Other Updates**
Abaxx has received their FBOT from the CFTC back in November which grants them direct access to the US market. This was the final step in making them a globally recognized clearinghouse and exchange and work directly with customers around the world.

They have also been gaining steam on onboarding US customers. Just last week they announced access via TMX’s Trayport which will give 9800 industry traders access to their physically delivered contracts by end of next month.

They have also launched a couple wind futures contracts while also expanding the currencies they support on the exchange as collateral.
**Catalysts Ahead**
Abaxx is going to market with their digital title program with the backing of their licensed clearinghouse and exchange this summer. Maybe even sooner. This will likely drive significant interest to them.

Uplisting to major exchanges appears also to be in the works as well. So it's possible we see a that in the near future. The uplist will also bring along with it multiple index inclusions.
For those who like to look at charts instead to guide your investing decisions, it seems like there is a strong base at this level that has held steady for the past 3 months.
https://preview.redd.it/ck07nd9o3hjg1.png?width=1528&format=png&auto=webp&s=613fab2c22805891435a263d76ff99b4debbd6a4
Happy to answer any questions.
Positions:
I have maintained my position since last post at 9690 shares.
https://preview.redd.it/bbw7g6lc5hjg1.png?width=1836&format=png&auto=webp&s=8724da67e97b75beb5b0ae5945424096ae0cc2f6
https://preview.redd.it/g2epbm0h5hjg1.png?width=1964&format=png&auto=webp&s=5661d879e1215f6a5e1f4c1bf719925f4cbce1fd

No difference for you without state tax. Go with whichever is higher. I maintain a list of current MMF Yields in the MMF Yields tab of my [rebalance calculator](https://invest.mcawesome.org/). Enter your tax rates at the top and it will show you the best after tax yield. All the Fidelity funds I list auto liquidate, too.

\> so I was thinking of asking Fid to switch to FDLXX which states it's around 3.9%.
FDLXX is not available as core position / cash sweep, so don't waste your time ... if you want to buy manually something resulting in higher yield there many options , to name few of them
1. Fidelity's own MMF ( FLDXX and many noticeably better than FDLXX, specifically when you do not care about state taxes ... plus they will be self-liquidating, but manual purchases ... procuring some might involve one time actions that you need to google for )
2. non Fidelity's MMF ( you can buy VUSXX for example in Vanguard and transfer shares to Fidelity - so manual buy with extra move to ACATS in, dividends reinvestment are free ... not self liquidating but buy sell does not generate possible wash sales, etc )
3. ETFs like SGOV, VBIL, etc - manual buy ( in Fidelity, no need for an extra step like with VUSXX, manual sale, might result in wash sales if you do not watch what you do, extra tax reporting as you buy and sell ETFs )
4. buy/sell treasuries directly, can use auto-roll, better to do in separate dedicated account
etc, etc, etc
PS: most of what mentioned above involve stuff using treasuries in some form or shape just because it is as close to FDIC insured as possible ... but certainly if you want more risk / reward you can go for ultra-short bonds, etc - but that will become already not exactly cash position

Why a MMF and not bonds? Don’t fall for the cash trap. VTI alone is fine but consider adding VXUS/international.
What do you mean by tax loss harvesting in your taxable? In the long run you most likely won’t have losses to harvest with a MMF/broad index fund.