MillTechFX Partners with Investec Bank to Launch Margin-Free FX Hedging Solution

MillTechFX, a multi-bank FX marketplace operator and an affiliate of Millennium Global Investments​, announced that it has partnered with Investec Bank plc, the global bank and wealth manager, to provide fund managers with an innovative margin-free foreign exchange (FX) hedging solution.

MillTechFX and Investec's new solution enables transparent best execution across 10+ counterparty banks without the cash drag associated with having to fund initial and variation margin calls.

Investec's credit appetite and commitment to the fund community, partnered with MillTechFX's independent multi-bank marketplace, provides fund managers with a more holistic, transparent way of trading, creating a new standard of best practice for FX hedging.

"We are excited to be partnering with such a dynamic, global bank that is truly committed to providing an excellent service for its clients. Investec's credit appetite and balance sheet, combined with our independent multi-bank marketplace, will help managers significantly reduce their operational risk and costs while also enabling them to demonstrate best execution and best practice to their investors,"Max Dobson, Commercial Director of MillTechFX said.

"At Investec, we have always focused on innovation to ensure our clients have access to industry leading solutions. As such, we are proud to be partnering with MillTechFX on this joint venture,"Sebastian Wright, Risk Solutions at Investec added."By partnering, we believe that we can solve the constant trade off that clients face – that of obtaining the best market price or the best market credit terms – whilst also offering the best market practice post trade in Trade Cost Analysis."