5 reasons for CFOs to choose MillTechFX

The global FX market is often seen as more opaque than many other financial markets, and in our opinion , is not fit for purpose for mid-sized asset managers and treasurers, who – often unknowingly - suffer from overpaying for their currency execution[1], and the operational agony of managing multiple relationships to seek best execution.

MillTechFX aims to solve this problem by providing a multibank FX marketplace with a pinpoint focus on reducing execution costs and improving operational efficiency. Aiming to open up the FX market and level the playing field, MillTechFX is designed specifically for middle-sized and middle-sophistication corporate treasurers, fund managers and institutional investors.

So why should you choose MillTechFX?

1. Save up to 70% on FX execution costs

While there are many players in the current FX ecosystem, MillTechFX sets itself apart by delivering a wholly new model -  an independent, comparative multi-bank FX marketplace with a pinpoint focus on reducing FX execution and hedging costs.

We aim to significantly reduce our clients’ FX costs by up to 70% by giving them access to wholesale FX rates from up to 10+ world leading banks.

2. Gain access to our comparative multibank marketplace and best execution

Asset managers and corporates often rely on one or two banks and brokers for their FX trading due to the operational headache of implementing one or multiple ISDAs, lacking the visibility on the mid-market rate. As a result, most may be unaware of their existing FX costs.

This is where MillTechFX changes the status quo. Asset managers and corporates can now have access to the multibank comparative market, which has previously been reserved for large corporations only. Our multibank marketplace enables outsourced FX execution to help secure lower costs with access to wholesale rates from up to 10+ leading banks, as well as enabling best execution to help streamline operational workflows.

3. Benefit from frictionless workflows, execution, reporting and settlement

MillTechFX has been machine-tooled from the bottom up with non-FX professional users in mind, making it an dynamic and customisable platform that offers a frictionless, streamlined workflow from execution to reporting and settlement.

By combining multibank execution, independent advisory and operational programme management, we help our customers to significantly reduce both FX costs and operational burdens associated with rolling hedging requirements.

Asset managers and treasurers can go to a single platform and choose from multiple bank rates, with frictionless end-to-end execution at institutional-grade rates.

4. Full transparency with an independent TCA

For most FX execution services available to Institutional Investors, Fund Managers and Corporate Treasurers, costs are opaque. All too often, this can lead to high hidden costs and reduced execution quality.  A transaction cost analysis (TCA) is an effective way to assess the quality of your FX execution, acting as an audit and independent quality assessment of how much is actually being paid.

TCA goes hand-in-hand with best execution and can be used as an ongoing audit of FX practices as well as holding existing FX counterparties to account. It not only can provide firms with a competitive advantage when trading FX, but it can also provide evidence of compliance with a best execution policy for a firm’s board and shareholders.

MillTechFX aims to deliver full transparency at each stage of the execution process and offers real-time reporting and independent transaction cost analysis (TCA) which provide customers with complete visibility of their FX execution costs, enabling them to accurately assess the quality of their execution.

5. The pricing power of Millennium Global

One of the main issues in the FX market, in our opinion, is that clients are provided rates in different capacities depending on what kind of client they are – a concept sometimes called “tailored pricing”.

As a result, the best rates are reserved for institutions that transact the highest volumes, meaning mid-sized corporates and asset managers may struggle to get best execution.

MillTechFX harnesses the purchasing power of Millennium Global, one of the world’s largest specialist currency managers with 25 years of FX expertise, USD 600bn in annual FX volume and USD 20 billion assets under management.

Customers benefit from direct access to institutional-grade rates from our counterparty banks, for the first time on one platform, benefiting from Millennium’s execution terms, supported by its purchasing power, with full transparency and minimal friction.

Get in touch to find out more about our comparative multibank FX marketplace

[1] http://www.haraldhau.com/wp-content/uploads/FX_PriceDiscrimination_in_FX_OTC_markets.pdf