DEFINITION of 'BanxQuote Money Markets Index'

BanxQuote Money Markets Index was an index of money market funds, compiled by the financial information firm BanxQuote. BanxQuote exited the market in 2015, and the BanxQuote Money Markets Index is no longer published.

The BanxQuote Money Markets Index enabled readers to compare money market funds issued by various financial institutions. It also provided consumers with data and tools to compare those data. The money market index compiled national, regional, state and local compendiums of money market rates offered by representative lending institutions. Rates were gathered from commercial banks and savings and loan institutions, as well as local certificates of deposit (CDs).

BREAKING DOWN 'BanxQuote Money Markets Index'

The BanxQuotes Money Market Index, and information aggregators which have succeeded it, offer a valuable service to consumers by comparing local and national money market and CD rates.  It provided benchmarks for both lenders and borrowers alike, and its rates were often quoted in financial media publications.

Today, there are many tools available for prospective purchasers of money market funds to find information on money market funds. Websites like Nerdwallet and Bankrate have money market comparison tools that allow consumers to compare money market rates for a given minimum investment. They link to third-party banks and financial institutions, where prospective customers can then make an investment.

For many years, BanxQuotes offered many different financial metrics which were widely quoted in the media, including the Wall Street Journal, the New York Times, the Chicago Tribune, and the Washington Post. Its data was also available to professional traders through the Bloomberg Terminal. BanxQuote and its parent company BanxCorp were pioneers of disseminating financial information on the internet, and was active in convening public discussions of topics related to the financial services industry and new communications technology. In 1995, for instance, BanxQuotes hosted the BanxQuote Multimedia Banking Forum in New York City.

Money Market Index Funds

Investors typically invest in money market mutual funds directly with a bank or through a brokerage account. Money market funds are popular places to park money that you don’t want to invest elsewhere at a given time. For instance, if you are a day trader, you may want to sell your investments and put the money into into a money market mutual fund, if you think that the market is headed for turbulence. Money market funds are a good place to store money in times of trouble, because the assets underlying money market funds are very safe securities like U.S. government debt.
 

RELATED TERMS
  1. Money Market Fund

    A money market fund is a type of mutual fund that invests in ...
  2. Breaking the Buck

    Breaking the buck occurs when the net asset value (NAV) of a ...
  3. United States Treasury Money Mutual ...

    A United States Treasury money mutual fund is a mutual fund that ...
  4. Broad Money

    Broad money is an economics term that represents the calculation ...
  5. Fund

    A fund is a source of money that is allocated for a specific ...
  6. Money Supply

    The money supply is the entire stock of currency and other liquid ...
Related Articles
  1. IPF - Banking

    Introduction To Money Market Mutual Funds

    Learn about the easiest way to benefit from money market securities.
  2. Investing

    Why Money Market Funds Break The Buck

    These funds are noted for their safety in a rough market. Read on to find out why.
  3. IPF - Banking

    Do Money Market Funds Pay?

    This investment provides security, but its returns may not be adequate for long-term investors.
  4. Retirement

    Introduction To Retirement Money Market Accounts

    Money market funds are used in retirement plans and accounts because they are liquid, stable and pay competitive rates of interest.
  5. Personal Finance

    5 Mistakes You're Making With Money Market Accounts

    Money market accounts can be helpful "parking spots" for investors. Here are five key things to keep in mind when opening an account.
  6. Investing

    Money Market Mutual Funds: A Better Savings Account

    A good alternative to the traditional savings account is the money market mutual fund. It's easy, safe and has better returns. Learn more today.
  7. Investing

    Financial markets: Capital vs. Money Markets

    There are several key differences between capital markets and money markets as components of financial markets. Check out the similarities and differences between the two markets.
  8. Retirement

    Money Market vs. Short-Term Bonds: A Compare and Contrast Case Study

    Discover characteristics of money market and short-term bonds, including how the investments are alike and different, and the benefits and risks each offers.
RELATED FAQS
  1. What determines the interest rate on my money market account?

    Placing funds in a money market account may provide a higher interest rate than a savings account due to the underlying securities ... Read Answer >>
  2. Mutual funds versus money market funds

    Learn what mutual funds and money market funds are and understand the differences between each, as well as how they serve ... Read Answer >>
  3. What is the difference between fiat money and representative money?

    Learn the main differences between fiat money and representative money. Differences include actual physical currency and ... Read Answer >>
  4. Can I Buy Mutual Funds With a Margin Account?

    Because of the pricing/trading mechanisms used with mutual funds, they cannot be bought on margin. Read Answer >>
Hot Definitions
  1. Yield Curve

    A yield curve is a line that plots the interest rates, at a set point in time, of bonds having equal credit quality, but ...
  2. Portfolio

    A portfolio is a grouping of financial assets such as stocks, bonds and cash equivalents, also their mutual, exchange-traded ...
  3. Gross Profit

    Gross profit is the profit a company makes after deducting the costs of making and selling its products, or the costs of ...
  4. Diversification

    Diversification is the strategy of investing in a variety of securities in order to lower the risk involved with putting ...
  5. Intrinsic Value

    Intrinsic value is the perceived or calculated value of a company, including tangible and intangible factors, and may differ ...
  6. Current Assets

    Current assets is a balance sheet item that represents the value of all assets that can reasonably expected to be converted ...
Trading Center