MillTechFX named in Fintech Power 50 list at Fintech Week London 2021

Each year The Fintech Power 50 publishes its annual guide to the most influential, innovative and powerful firms in the fintech industry. Its mission, in its own words, is to provide a much-needed reminder of the greatest achievements of the year in financial technology and to shine a spotlight on those who are transforming financial services for the better.

MillTechFX is honoured to have been recognised in this year’s list, revealed live on stage at Fintech Week London 2021, the first physical fintech event in the UK since the global pandemic began. Almost 1,000 companies were nominated this year, with over 15,000 votes.

The listing highlights the progress MillTechFX has made in the last 12 months. In that time, we’ve built an independent, comparative multi-bank FX marketplace which aims to significantly reduce execution costs and operational burdens. We’ve signed up 10+ market making banks to provide rates, brought our model to market and accumulated client business from asset managers, corporates and institutional investors. Our clients have traded billions of USD to date, with usage growing every month.

MillTechFX began life as a response to a very particular challenge shared by these types of firms. Traditionally, they have had no choice but to suffer from significantly overpaying for their currency execution and hedging requirements[1] as well as the operational burden of implementing and managing multiple relationships to seek best execution. At minimum, MillTechFX seeks to cut our clients’ FX execution costs in half, while offering a frictionless, streamlined workflow from execution to reporting and settlement.

We’re delighted to receive this recognition of our hard work from The Fintech Power 50 and look forward to another productive and successful year ahead.

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