Forex platform for fund managers and corporates

Navigating the world of foreign exchange (FX) can be a complex process, especially for fund managers and corporates aiming to optimise their financial strategies and effectively manage FX risk.

The foreign exchange (FX) market is the largest financial market globally, with a daily trading volume of $6.6 trillion. Despite the options available, we believe the FX market falls short for many businesses.

Often, firms have no choice but to overpay for their FX needs, sometimes without knowing, and to grapple with the operational challenges of managing multiple relationships in pursuit of best execution.

Therefore, we set out to create a new model to level the playing field, offering access to wholesale multibank FX rates and institutional-grade FX execution. Our goal is to enhance transparent pricing for asset managers and corporates whilst delivering an effective solution for FX risk management.

MillTechFX stands out as more than just another FX platform—it’s a fully independent foreign exchange solution, that simplifies currency management with transparent pricing, efficient processes, and customised solutions designed to give businesses a competitive advantage in the FX market.

• Compare FX rates on our multi-bank platform
• Transparency in FX execution
• End-to-end FX solution
• No-margin hedging
• Multi-award winning E-FX solution
• Expert leadership team and strong governance
• Request your free Transaction Cost Analysis (TCA)

 

Compare FX rates on our multi-bank platform

Millennium Global Investments, a leading specialist in currency management with over 25 years of experience and an annual FX volume exceeding $543 billion*, provides the purchasing power to operate our cutting-edge FX platform.

MillTechFX differentiates itself from traditional FX platforms by leveraging Millennium Global's purchasing power to offer asset managers and corporates direct access to institutional-grade FX terms—previously accessible only to the largest financial institutions. This allows businesses of all sizes to access fairer, more cost-effective FX rates.

Our streamlined platform provides access to FX rates from up to 15 tier-1 counterparty banks, enabling clients to compare FX rates in real time and achieve best execution on their trades. Moreover, with our express ISDA capabilities, clients can bypass the hassle of establishing individual ISDA agreements with multiple liquidity providers and seamlessly access our pool of 15 tier-1 banks, ensuring counterparty diversity without the usual complications.

 

Transparency in FX execution

Transparency is fundamental to our pricing model, ensuring that clients have a clear and unobstructed view of the costs associated with their FX transactions. Unlike many traditional financial services that may surprise users with hidden fees, MillTechFX removes these worries by guaranteeing fully transparent, pre-agreed fees with no hidden charges. This low-cost structure is designed to provide comprehensive transparency by removing the hidden FX costs that are often buried within the spread.

To further support this commitment to transparency, we provide independent Transaction Cost Analysis (TCA) for corporates and asset managers. Our quarterly TCA provides an in-depth analysis of FX transaction costs and evaluates performance against industry benchmarks.

Designed to meet regulatory standards, this analysis not only verifies transaction costs through an unbiased, third-party approach but also demonstrates evidence of best execution practices. This level of transparency and accountability proves invaluable for meeting audit requirements, satisfying stakeholder expectations, and building trust in financial operations. Whether for compliance, reporting, or optimising costs, our FX TCA is a critical tool for informed decision-making and long-term success.

 

End-to-end FX solution

One of the standout features of MillTechFX is our focus to providing an end-to-end FX solution. This means users can manage FX execution, settlement, and trade reporting seamlessly within a single, streamlined platform, either in-house or outsourced to our team.

Our solution streamlines settlements by integrating auto-settlement through SWIFT directly into client's depositories, enabling automatic payment instructions. By connecting with asset manager’s PMS, fund administration systems, and corporate workstations, we enable straight-through processing for both trade and regulatory reporting. This reduces the manual effort involved in traditional FX settlements, simplifying workflows, minimising errors, and ensuring secure, efficient foreign exchange transactions with fewer potential delays.

Moreover, our automated counterparty assignment (ACA) logic systematically allocates close trades across banks with open positions to minimise cash movements. Clients can simply upload their trades as usual, and the platform seamlessly manages the rest, eliminating the need for manual intervention. This automation not only reduces administrative workload but also reduces the likelihood of human error.

Our FX platform is constantly evolving to provide new features that enhance convenience and deliver advanced tools for our clients. With safeguards like our maximum execution limit, we prioritise meeting our clients' needs in a safe and secured manner.

 

No-margin hedging

Anyone managing FX risk with forwards is likely familiar with the cash management challenges caused by posting margin or collateral for these currency trades. Many banks require collateral to be posted both upfront (initial margin) and continuously (variation margin).

This can lead to a cash drag on crucial funds and ultimately a FX liquidity risk.

Through partnering with Investec Bank plc, the global bank and wealth manager, we are able to provide asset managers with an alternative margin-free hedging solution. Removing the need to post initial and/or variation margins, without jeopardising FX best execution and as always, ensuring total cost transparency.

This innovative solution frees up capital for investments, increases operational efficiency and drives down potential cost for investors.

 

Multi-award winning E-FX solution

In recent years, MillTechFX have been honoured to receive recognition from numerous prestigious institutions, acknowledging our commitment to excellence and innovation. Some of these include:

• The World’s Best FX Risk Management Solution – Euromoney Awards 2024
• Best Trading Tech – Business Awards UK Fintech Awards 2024
• Best Foreign Exchange Services – The Drawdown Awards 2024
• Best E-FX solution for Corporates – FX Markets e-awards 2023
• Best Foreign Exchange Solution - Private Equity Wire US Awards 2023
• Best Risk Management Software Provider – Institutional Asset Manager Awards 2023

 

Expert leadership team and strong governance

MillTechFX is led by technologists, traders, and investment managers with decades of currency management experience, all driven by a shared commitment to delivering superior service and creating a fairer FX solution for asset managers and corporates.

We are committed to upholding the highest standards of integrity, transparency, and responsibility in financial markets, ensuring our clients and stakeholders can trust us to deliver secure and ethical services. Here’s some of the ways we demonstrate these values:

• Financial Conduct Authority (FCA) regulated.
• A signatory to the FX Global Code.
• We hold a Carbon Neutral status and are a certified CO2e Assessed Organisation.
• Our FX platform is ISO27001 certified, ensuring we maintain the highest security standards.
• We are members of the Association of Corporate Treasurers (ACT), a leading body in the corporate treasury profession.

 

Request your free Transaction Cost Analysis (TCA)

Curious about how much your business could save with the MillTechFX platform? Our free Transaction Cost Analysis, conducted by our independent third-party partner BestX, can give you the insights you need—no obligations required:

• FX Transparency: Gain a comprehensive view of hidden costs in your FX spread and see how much you can save by trading through MillTechFX.
• Performance Management: Benchmark your FX costs against independent industry standards and peers to assess the effectiveness of your FX strategies.
• Enhanced FX Risk Management: Identify risks and inefficiencies in your FX trading to refine strategies and mitigate risks proactively.
• Optimise Your FX Execution: Evaluate the effectiveness of your FX strategies, including trading times, venues, and methods, to improve execution techniques.

Request your free FX TCA here.

 

 

This blog contains links to external websites or third-party sources. While we strive to provide accurate and reliable information, we do not guarantee the accuracy or completeness of information obtained from such external sources.

This blog, including the information provided herein, is provided for information purposes only and does not constitute an invitation or offer to subscribe to or purchase any of the products or services mentioned.

The information contained is intended for Professional Clients (or elective professional clients only). MillTechFX does not target retail clients as the products offered by MillTechFX are not suitable for or made available to retail clients.

The information herein is not intended to provide, and should not be relied upon for, accounting, legal or tax advice or investment recommendations. You should consult your investment, tax, legal accounting or other advisors.

*Annual FX Volume refers to the average FX volume traded in 2022, 2023 and 2024 across all Millennium Group activities.