Key Elements of the mCD
All existing and potential mCD Depositors must have an existing online deposit account with the Demand Account bank of the mCD Exchange
A near continuous online auction is run on an mCD Exchange between existing and potential mCD Depositors
The mCD Exchange is operated by a dedicated independent company
A technology partner will be commissioned from among several candidates that we have identified to provide the mCD Exchange
Existing and potential mCD depositors enter the mCD Exchange’s web portal from the bank’s online banking website utilizing existing account security
An algorithm (subject to patent protection) is used to match mCD buyers and sellers, which sets the new mCD rate applied to all mCDs
Interest accrued is paid to the mCD depositor's demand account at monthly intervals
No transfers of cash external to the bank are required
As the rate is always at market, the mCD’s fair market value remains at par
A detailed proposal (subject to confidentiality terms) is available for further information.