We have been named "Best FX Provider"
30 September 2022
MillTechFX was named as the Best Foreign Exchange (FX) Provider at the Hedgeweek and Private Equity Wire European Credit Awards 2022, held on Wednesday 28th September at the Kimpton Fitzroy in London.
The Hedgeweek and Private Equity Wire European Credit Awards recognise excellence among private credit fund managers and service providers in Europe across a wide range of categories.
Despite the high exposure of the private credit market to currency movements, many private credit firms suffer from a lack of transparency when it comes to fees, as well as improper infrastructure when it comes to best execution. Having sufficient FX risk management tools in place has become all the more important over the past year in light of high inflation, rising volatility and well-documented economic uncertainty.
MillTechFX is enabling private credit firms to navigate this landscape and demonstrate best execution through its work as an FX-as-a-Service pioneer. Its automated trade and settlement reporting, multi-bank access and total cost transparency allows private credit firms to streamline operational workflows and execute at the best rate, saving time and costs.
Nominated firms in the Best FX provider category are based on a widespread survey of more than 100 fund managers and other key industry participants. Nominees are judged on their performance over a twelve-month period from May 2021 to May 2022.
Eric Huttman, CEO at MillTechFX, said: “Having the right FX processes in place is vital for private credit firms against a backdrop of strong currency fluctuations and mounting uncertainty. Our unique, tech-enabled approach to currency management is helping private credit firms manage this risk and protect their returns during these turbulent times. Winning this award is testament to the dedication and commitment of the MillTechFX team as well as the improved transparency, stronger governance and efficiency benefits that can be gained through our FX-as-a-Service model.”