What makes MillTechFX different from other FX platforms?
18 January 2022
The FX execution marketplace has a wide range of providers offering a vast array of services which can make it difficult for decision-makers to pick the best firms to partner with.
Despite the large amount of choice, we believe that the FX market isn’t fit for purpose for many asset managers and corporates. For too long they have frequently had no choice but to suffer from significantly overpaying for their FX requirements or the operational agony of managing multiple relationships to seek (though often in vain) best execution.
And so, we made it our mission to level the playing field for these firms by delivering a wholly new model which provides access to multibank FX rates, institutional-grade execution and transparent pricing, all in one marketplace.
So how exactly is MillTechFX different?
One stop shop for FX
- Some providers only offer part of what you need to trade FX, at MillTechFX we have created a marketplace for all of your FX requirements – access to wholesale FX rates, best execution, regulatory reporting and streamlined workflows to reduce and simplify operational burden.
- Instead of having to onboard and work with multiple liquidity providers, you can manage all of your FX needs via one relationship with MillTechFX.
- Best of all? You can be sure we’re meeting your needs as we provide hard evidence in the form of independent transaction cost analysis. This gives you complete transparency on your costs and evidence of best execution.
Reduced execution costs
- Our FX marketplace harnesses the purchasing power of Millennium Global, one of the world’s largest specialist currency managers with 25 years of FX expertise, USD 600bln in annual FX volume and USD 20 billion assets under management.*
- This means customers using MillTechFX benefit from access to vastly preferential rates from 10+ tier 1 counterparty banks which were previously only available to the largest institutions.
- As a minimum, we believe our solution can cut customers’ execution costs in half – in some cases saving up to 70%.
- Commonly used FX aggregator tools require clients to have multiple International Swaps and Derivatives Association (ISDA) agreements in place to trade with counterparties.
- Instead of having to navigate the cumbersome process of implementing ISDA agreements, asset managers and corporate treasurers can simply sign up to MillTechFX and access institutional-grade rates directly from 10+ tier 1 banks.
- Transparency is at the heart of each stage of the execution process.
- MillTechFX offers real-time reporting and independent transaction cost analysis (TCA), which allows customers to see the total cost of their FX execution and demonstrate best execution to investors and board members.
Designed for those who need to trade
- Our marketplace has been designed with a laser focus on mid-sized asset managers and corporates with a genuine need to trade, not alpha seekers.
- It has been machine-tooled from the bottom up and is wholly intuitive and customisable, offering a frictionless, streamlined workflow from execution to reporting and settlement.
- MillTechFX, as part of the Millennium Global group, is a signatory to the Global FX Code.
- To date, MillTechFX is the only FX platform that is a signatory to the UN’s Principals for Responsible Investment. We are proud of our Carbon Neutral status and are a certified CO2e Assessed Organisation.
Expert leadership team
- MillTechFX is led by technologists, traders and investment managers with decades of currency market expertise who are driven by a collective desire to deliver a better service and create a fairer FX solution for our customers.
- We are proud of the expertise on our advisory board, which features city grandee Sir Ronald Cohen and Harvard Professor, Vikram Gandhi, among other finance veterans.
By delivering a wholly new model, with technology at its core, MillTechFX is seeking to transform the FX market for asset managers and corporate treasurers. We keep your FX needs front of mind, with guaranteed transparency and regular reporting, to help you achieve best execution and transact with confidence.
If you’re interested in finding out more about MillTechFX, get in touch today.
* Heritage information specific to Millennium Global Investments Limited (MGIL - FRN 171039). FX Volume shown is an average of years ending 2018/19/20. AUM refers to the USD 20.2 billion notional amount managed as at 30/06/2021.