Payden & Rygel pioneered cash management strategies for institutions a quarter-century ago. Since that time, this strategy, which focuses on liquidity management of operating funds or sweep funds, has been refined and perfected. Our strategy helps institutions maximize the return on short-term resources by deploying funds in the short-term money markets—where they are both secure and highly liquid. The money markets include short-term debt securities like commercial paper, repurchase agreements, negotiable certificates of deposit and Treasury Bills—all with maturities of less than a year, but usually less than 30 days. Expert navigation of the vast money markets is essential to successfully managing short-term cash.