What is a CMA?
A Cash Management Account is an interest-earning bank account designed to keep cash accessible for investment activity. Macquarie's CMA supports electronic transfers and provides its own BSB and account number.
In Volatility's current account setup, an eligible client receives a linked Macquarie CMA in the account holder's name. It is used for trading settlement cash; it does not replace the HIN that identifies eligible securities on the CHESS subregister.
CMA and HIN: two different records
| Question | Macquarie CMA | CHESS HIN |
|---|---|---|
| What does it identify? | The bank cash account. | The holder and eligible securities on the CHESS subregister. |
| Who operates the system? | Macquarie Bank. | ASX Settlement with records maintained through a sponsoring participant. |
| What number is used? | BSB and account number. | Holder Identification Number. |
Practical workflow
How does the linked cash account support trading?
Funding
Australian-dollar funds can be transferred to the CMA using its BSB and account number, subject to Macquarie's payment rules.
Settlement
Available cash supports settlement obligations for transactions placed through the linked trading account.
Interest and records
Macquarie publishes the applicable account rate and provides statements and account reporting. Rates can change, so Volatility does not hard-code an interest rate here.
Do you transfer the CMA when changing brokers?
A broker transfer and a cash-account change are separate processes. Moving CHESS-sponsored holdings does not automatically move a linked bank account, open options positions, unsettled transactions or subscription arrangements. Confirm each item with the receiving broker before closing an existing account.
Read the broker-transfer guide →Macquarie states that current CMA rates should be checked in Macquarie Online Banking. Account features and terms may change.