MillTechFX Extends Footprints into Europe, Taps Paris as Hub

MillTechFX, the FinTech affiliate of Millennium Global  Investments, has expanded into Europe following the success of its multi-bank foreign exchange (FX) marketplace in the UK and North America.  

Over the past year, the FX marketplace has been accumulating client business from asset managers and corporates across the globe. Its clients have already traded tens of billions of US dollars and usage is continuing to grow.

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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).

Asset managers and corporates have had little choice but to suffer from significantly overpaying for their currency execution and hedging requirements as well as the operational burden of implementing and managing multiple relationships to seek best execution.

MillTechFX is looking to change this by revolutionising the FX market with its multi-bank FX marketplace which allows asset managers and corporates to significantly reduce both FX costs and the operational burden associated with FX execution and rolling hedging requirements. Its independent end-to-end currency solution provides direct access to wholesale FX rates from up to 10+ counterparty banks and transparent best execution.

MillTechFX aims to deliver a fairer, more transparent and cost-effective FX execution and hedging solution, building on decades of experience from Millennium Global, manages over $19.5bn in institutional currency mandates.