meaning What does «MM» mean in this context? English Language & Usage Stack Exchange
In digital communication, MM can have different meanings depending on the context. Today, MM remains the standard abbreviation for millions throughout the banking and accounting professions. In my experience analyzing data from top financial institutions, I estimate 90% or more use MM based on samples of hundreds of documents and reports. As a data analyst who works closely with the finance industry, I‘ve always been fascinated by the ubiquitous use of «MM» as an abbreviation for millions among banking and accounting professionals. It differs from the standard «k» and «M» abbreviations used in the metric system and most other sectors.
MM in Digital Communication
- If the company sells 26,000 units, the accountant can record that as 26M units.
- The money market fund portfolio is required to maintain a weighted average maturity (WAM) period of 60 days or less.
- As a data analyst who works closely with the finance industry, I‘ve always been fascinated by the ubiquitous use of «MM» as an abbreviation for millions among banking and accounting professionals.
- A money market fund aims to maintain a net asset value (NAV) of $1 per share.
- A money market fund is a mutual fund investment that holds short-term treasuries and other money market instruments like corporate bonds or certificates of deposits.
These changes required prime institutional money market funds to float their NAV and no longer maintain a stable price. Retail and U.S. government money market funds were allowed to maintain the stable $1 per share policy. The regulations also provided non-government money market fund boards with new tools to address runs. The word “million” is not a commonly abbreviated word, but its abbreviations still have their place.
Abbreviation for Million and Thousand: K & MM Meaning
This migration of funds led to interest rates remaining low for a long duration and diminishing returns from money market funds. All the features of a standard what does mm mean in money mutual fund apply to a money market fund, with one key difference. A money market fund aims to maintain a net asset value (NAV) of $1 per share.
Money Market Fund Regulation
When an analyst must present various different types of units, it is recommended to add a “units” column so that each item contains a label for easy reference. Money market funds are relatively safe investments and are protected by the Securities Investor Protection Corporation, but they are not insured by the Federal Deposit Insurance Corporation. If this happens, regulators may jump in and force the fund’s liquidation. As stated above, MM is generally used in business to represent millions since the letter M by itself has historically meant 1,000. That said, if your organization uses M and it doesn’t cause confusion, you are free to use M to abbreviate one million. In the context of money, MM stands for “million.” It is often used in financial reports or discussions to indicate a large sum of money.
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Therefore, it is essential to consider the context and the audience when using MM in digital communication. In this article, we’ll dive deeper into the MM meaning and explore its origins. We’ll also discuss how MM is used in different contexts and provide some examples of how it is used in everyday conversation. So, whether you’re new to the world of texting slang or just looking to expand your vocabulary, keep reading to learn more about the meaning of MM.
The Community Bankers U.S. Government Money Market Fund was liquidated at $0.96 per share. This was the result of large losses that the fund incurred following a period of heavy investment in derivatives. Retail money funds are accessible to individual investors as a result of their small minimums. Money market funds are classified into various types depending on the class of invested assets, the maturity period, and other attributes.
When to Use the Abbreviation
One of the biggest challenges of being an MM is keeping your relationship a secret. You don’t want your partner to find out about your extracurricular activities, so you have to be careful about who you talk to and where you go. This can be stressful, but it’s a necessary part of the MM lifestyle. These examples underscore the need for abbreviations like MM to avoid ambiguity with large figures. Later on, the rise of typewriters and early digital spreadsheets continued this practice of using M and MM abbreviations.