For Payment Service Providers
E-money institutions and payment institutions in the European Union must comply with strict safeguarding requirements for customer assets under the EMD2 and PSD2 directives. These requirements are defined by national law and enforced by the competent authorities in each member state.
Eligibility as a Safeguarding Instrument
Spiko MMFs possess essential characteristics that make them ideal candidates for safeguarding instruments for e-money and payment institutions:
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Regulatory Compliance: Our funds are fully licensed as short-term Money Market Funds in compliance with the EU MMF Regulation and are authorized under the UCITS Directive, operating under the oversight of the French Financial Markets Authority.
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Conservative Investment Policy: Our funds are structured to meet stringent investment criteria:
- Investments restricted to Treasury Bills issued by top-tier governments
- Cash positions capped at 10% of fund assets, held with CACEIS Bank, a subsidiary of G-SIBs Crédit Agricole and Santander
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Rigorous Liquidity Management: As licensed short-term MMFs, our funds adhere to strict liquidity ratios:
- Weighted Average Maturity (WAM): Maximum 60 days
- Weighted Average Life (WAL): Maximum 120 days
- Individual Security Maturity: Maximum 6 months per asset
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Institutional-grade Stakeholders: Our funds are operated by Tier-1 financial institutions
Key Benefits
- Streamlined Onboarding: Account opening typically completed within hours, with additional documentation required for proper asset segregation
- API Integration: Full access to our professional cash management platform and API for programmatic interaction
- Risk-free Returns: Daily earnings at the risk-free rate in each respective currency
National Rules on Safeguarding
| Country | Rules |
|---|---|
| France | The Spiko MMFs are qualified instruments for safeguarding of customers' assets under the French Financial and Monetary Code for payment institutions (art. L522-17), e-money institutions (art. L526-32) and investment firms (art. L533-10). |
Interested in using our MMFs for safeguarding customers' assets? Contact us at contact@spiko.io.