MillTechFX Rebrands with Move into Cash Management

MillTech has expanded from its core FX trading platform by launching a new cash management solution, in partnership with BlackRock’s CacheMatrix, to help investment managers and corporates optimise their excess cash. At the same time the firm has rebranded from MillTechFX to just MillTech and launched a new risk advisory platform, Co-Pilot.

The firm says the solution automates cash investments and enhances returns through direct access to an integrated marketplace of money market funds and will solve another key problem within treasury management: the operational complexity of optimising excess cash.

Enhancing multi-currency cash returns is a complex task, MillTech observes, adding that fragmented systems, manual processes and limited automation make it difficult for treasury teams to track and manage global cash effectively. “Maintaining multiple money market fund relationships adds to the operational burden, often resulting in underperforming idle cash sitting in a bank account,” the firm states.

The new cash management solution enables clients to access the best available returns from multiple money market fund providers, while automating the trade lifecycle and providing complete cost transparency. The platform delivers end-to-end automation, simplifying the investment process and, MillTech says, through a rules-based approach, enhances control and compliance, giving treasury teams added confidence in their cash allocation decisions.

The expansion into cash management is being led by two recent hires, Matthew Shapcott and Neil Gallacher. Prior to MillTech, Shapcott served as EMEA head of GlobalLink business development at State Street, while Gallacher was formerly senior business development director and head of APAC for GlobalLink fixed income at State Street.

Co-Pilot is an AI-enabled risk advisory and calculation service, and designed to help clients efficiently manage their FX risk, optimise cash deployment and improve decision-making, MillTech says. Initial features include a hedging simulator to model and test different FX hedging strategies in a simulated environment. It also features a carry-analysis tool to better monitor and understand the implications of interest rate differentials between two currencies in the context of FX hedging.

“The challenge of optimising cash returns to maximise yields whilst reducing operational burden is a problem we have been repeatedly hearing about from our clients,” says Eric Huttman, CEO of MillTech. “Money markets are vital for funds and corporates, ensuring liquidity, risk mitigation, and efficient cash management. Building on our success in the FX market, we’ve brought the same model to cash management: direct access to institutional-grade pricing from a marketplace of money market funds on a single platform, with best execution, full transparency, and frictionless transactions all embedded.

“Recognising the critical role of analysis and stress-testing in risk management as well as the power of AI, our Co-Pilot offering empowers users with actionable and explainable insight,” he continues. “By simulating different strategies and their financial impact, Co-Pilot helps firms optimise outcomes, minimise risk and make more confident decisions that directly help them protect their bottom lines.”