MillTechFX Expands into Europe
Posted by Colin Lambert. Last updated: March 30, 2022
MillTechFX, the FinTech affiliate of Millennium Global Investments, has expanded into Europe following the initial launch of its multi-bank FX marketplace in the UK and North America.
Over the past year, the firm says it has been accumulating client business from asset managers and corporates across the globe and that clients have already traded tens of billions of dollars and usage is continuing to grow.
The firm has selected Paris for its European hub and is now ready to hit the ground running across the EU after receiving regulatory approval from both French financial authorities – the Financial Markets Authority (AMF) and the Prudential and Resolution Control Authority (ACPR).
“Over the past 12 months we have seen terrific growth in terms of clients onboarded and volumes transacted on our FX marketplace,” says Eric Huttman, CEO of MillTechFX. “This success indicates that asset managers and corporate treasurers are actively moving away from traditional FX processes and partnerships in favour of cost-effective, efficient and transparent multi-bank solutions. As a firm with global ambitions, we look forward to extending the benefits of our marketplace to European corporates and asset managers via our hub in Paris.”
Stephanie Aufan, directeur général of MillTechFX Europe, adds, “Paris is one of the top tech cities in Europe, boasting a deep pool of talent as well as excellent transport links to London and the rest of Europe. From our Paris hub, we will open the door to more transparent, efficient and cost-effective access to multi-bank FX execution, levelling the playing field for asset managers and corporates across Europe.”