Important Announcement Regarding STBT Underlying Asset Handling

2023-10-02

Dear STBT Investors,

Matrixdock, as the issuer of Short-Term Treasury Bill Tokens (STBT), is dedicated to maintaining transparency and clarity in our operations. We wish to provide you with essential insights regarding the handling of the underlying assets of STBT.

STBT’s underlying assets consist of T-bills, Reverse Repos and cash reserves. While we diligently manage these assets, there may be circumstances that require us to reallocate portfolios. Such reallocations can involve transitions between Repos and T-bills, transitions from one T-bill tranche to another, or similar actions.

It is crucial to provide clarity on how we account for assets during these transitional periods. When assets are in the process of reallocation, they are recorded within the category of assets held before the reallocation commenced. For instance, if a T-bill is transitioning to a Repo, funds will remain classified as part of the T-bill assets until the new Repo is successfully subscribed.

We are currently executing a position transfer trade from a T-bill maturing on September 28 to Repos, with a position of 10,239,000.00. We understand that these reallocation processes may extend over several days, which could potentially affect STBT yields. Matrixdock is dedicated to enhancing the efficiency of reallocation procedures to minimize any impact on yield.

Should you require further clarification or have any questions, please do not hesitate to reach out to our dedicated customer support team at [e-mail]. Your trust is the cornerstone of our partnership, and we are committed to delivering exceptional service.

Matrixdock Support Team