FX hedging specialist MillTech has teamed up with BlackRock to launch a new cash management solution to help investment managers and global corporates optimise their excess cash.
The solution, created in partnership with BlackRock’s CacheMatrix, automates cash investments and boosts returns through direct access to a marketplace of money market funds.
Enhancing multi-currency cash returns has historically been a complex task for treasury teams, due to fragmented systems, manual processes and limited automation. Maintaining multiple money market fund relationships adds to the operational burden, which can lead to underperforming idle cash sitting in a bank account.
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The new platform provides streamlined onboarding and end-to-end automation to simplify the investment process, while enabling clients to access the best available returns from multiple money market fund providers.
MillTech’s expansion into cash management is being led by two recent hires, Matthew Shapcott and Neil Gallacher, who both previously held senior roles at State Street’s trading solutions platform GlobalLink.
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“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,” said Eric Huttman, chief executive 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.”
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Additionally, MillTech has launched a new risk advisory platform, Co-Pilot, to improve client decision-making.
It recently rebranded to MillTech from MillTech FX to recognise its broader product offering.
