MillTech Research Disclosures
Welcome to our research project disclosures and disclaimer hub. This page provides essential information on our research initiatives for corporates and fund managers across the UK, North America, and the EU.
All research has been conducted on behalf of MillTech by Censuswide, an international market research consultancy.
The MillTech Quarterly Hedging Monitor
The MillTech Hedging Monitor shares the findings from a quarterly survey of 250 senior finance decision-makers at UK and US corporates (described as those who have a market cap of $50mil up to $1 billion).
The full list of job titles surveyed and included within this report is as follows: Accountants, Chief Financial Officers (CFO) Financial Analysts, Financial Accountants, Financial Consultants, Financial Manager, Analysis Managers and Treasurers.
Links to reports:
Q1 2025: https://milltech.com/resources/currency-insight-and-education/the-corporate-hedging-monitor-q1-2025
MillTech Global Research
The MillTech Global FX Report 2025
The MillTech Global FX Report 2025 examines the data and results of multiple surveys by Censuswide on MillTech's behalf.
The North American research was conducted between 14 June and 25 June 2024 based on surveys of 250 CFOs, treasurers and senior finance decision-makers in mid-sized corporates (described as those who have a market cap of $50mil up to $1 billion) and 258 senior finance decision-makers at mid-sized asset management firms (described as those with assets under management ranging from $500m to $20b) in North America.
The UK research was conducted between 17 September and 30 September 2024 based on surveys of 250 CFOs, treasurers and senior finance decision-makers in mid-sized corporates (described as those who have a market cap of $50mil up to $1 billion/£38m to £770m) and 250 senior finance decision-makers at mid-sized asset management firms in the UK (described as those with assets under management ranging from £40m - £16b AUM/$50m to $20b AUM) in the UK.
The European research was conducted between 12 December 2024 and 16 January 2025 based on surveys of 250 CFOs, treasurers and senior finance decision-makers in mid-sized corporates (described as those who have a market cap of €46 Million up to €919.39 Million total market cap) and 252 CFOs, treasurers and senior finance decision-makers at mid-sized asset management firms in the EU (described as those with assets under management ranging from €46 Million - €20 Billion +) across Belgium, Denmark, France, Germany, Luxembourg, Netherlands, Sweden and Switzerland.
The full list of job titles surveyed included within this report is as follows: Chief Financial Officers (CFOs), Financial Controllers, Financial Analysts, Financial Accountants, Financial Consultants, Financial Managers, Finance Directors, Chief Operating Officers (COOs), Chief Executive Officers (CEOs), Partners and Treasurers.
Link to report:
2025: https://milltech.com/resources/currency-insight-and-education/the-milltechfx-global-fx-report-2025
MillTech corporate research
The MillTech UK Corporate CFO FX Report
The MillTech UK Corporate CFO FX Report is an annual report that examines the data and results of a survey conducted by Censuswide on MillTech's behalf 250 CFOs, treasurers and senior finance decision-makers in mid-sized corporates (described as those who have a market cap of $50mil up to $1 billion/£38m to £770m), in the UK.
The full list of job titles surveyed and included within this report is as follows: Accountants, Chief Financial Officers (CFO) Financial Analysts, Financial Accountants, Financial Consultants, Financial Manager, Financial Planning and Analysis Managers, and Treasurers.
Links to reports:
2023: https://milltech.com/resources/currency-insight-and-education/the-milltechfx-uk-cfo-fx-report-2023
The MillTech North America Corporate CFO FX Report
The MillTech North America Corporate CFO FX Report is an annual report that examines the data and results of a survey conducted by Censuswide on MillTech's behalf of 250 CFOs, treasurers and senior finance decision-makers in mid-sized corporates (described as those who have a market cap of $50mil up to $1 billion), in North America.
The full list of job titles surveyed and included within this report is as follows: Accountants, Chief Financial Officers (CFO) Financial Analysts, Financial Accountants, Financial Consultants, Financial Manager, Analysis Managers and Treasurers.
Countries surveyed include the USA and Canada. 2024: https://milltech.com/resources/currency-insight-and-education/the-mill-tech-fx-north-america-corporate-cfo-fx-report-2024
The MillTech European Corporate CFO FX Report 2024
The MillTech European Corporate CFO FX Report 2024 was a one-off report that examined the data and results of a survey by Censuswide on MillTech's behalf of 250 senior finance decision-makers at mid-sized corporates in Europe (described as those who have a market cap of €50 million up to €1 billion).
The full list of job titles surveyed included within this report is as follows: Chief Financial Officers (CFOs), Financial Controllers, Financial Analysts, Financial Accountants, Financial Consultants, Financial Managers, Finance Directors, Chief Operating Officers (COOs), Chief Executive Officers (CEOs), Partners and Treasurers.
Countries surveyed include Belgium, France, Germany, Netherlands, Sweden, Switzerland, Denmark and Luxembourg.
Link to report:
MillTech Fund Manager Research
The MillTech UK Fund Manager CFO FX Report
The MillTech UK Corporate CFO FX Report is an annual report that examines the data and results of a survey by Censuswide on MillTech's behalf of 250 senior finance decision-makers at mid-sized asset management firms in the UK (described as those with assets under management ranging from £40m - £16b AUM/$50m to $20b AUM).
The full list of job titles surveyed included within this report is as follows: Chief Financial Officers (CFOs), Financial Controllers, Finance Directors, Chief Operating Officers (COOs), Chief Executive Officers (CEOs), Partners and Treasurers.
Links to reports:
The MillTech North America Fund Manager CFO FX Report
The MillTech North America Fund Manager CFO FX Report is an annual report that examines the data and results of a survey by Censuswide on MillTech's behalf of 250 senior finance decision-makers at mid-sized asset management firms in North America (described as those with assets under management ranging from $500m to $20b).
The full list of job titles surveyed included within this report is as follows: Chief Financial Officers (CFOs), Financial Controllers, Finance Directors, Chief Operating Officers (COOs), Chief Executive Officers (CEOs), Partners and Treasurers.
Countries surveyed include the USA and Canada.
The MillTech European Fund Manager CFO FX Report 2024
The MillTech Global FX Report 2024 was a one-off report examining the data and results of a survey by Censuswide on MillTech's behalf based on a survey of 250 senior finance decision-makers at mid-sized asset management firms in Europe (described as those with assets under management ranging from €500m to €20b).
*The full list of job titles surveyed included within this report is as follows: Chief Financial Officers (CFOs), Financial Controllers, Finance Directors, Chief Operating Officers (COOs), Chief Executive Officers (CEOs), Partners and Treasurers.
*Countries surveyed include Belgium, France, Germany, the Netherlands, Sweden, Switzerland, Denmark and Luxembourg.
Link to report:
Other disclosures
MillTech is the trading name of Millennium Global Treasury Services Limited (MGTS) and MillTechFX Americas Inc. MGTS is authorised and regulated by the Financial Conduct Authority (FRN 911636) and is a company registered in England and Wales with company number 11790384. The registered address is 88 Wood Street, London, EC2V 7QR, United Kingdom.
MillTechFX Americas Inc is registered with the National Futures Association as a Commodity Trading Advisor (NFA ID: 0545635).
Our research documents, including the information provided herein, is provided for information purposes only and does not constitute an invitation or offer to subscribe to or purchase any of the products or services mentioned.
The information contained is intended for Professional Clients only. MillTech does not target retail clients, as the products offered by MillTech are not suitable for or made available to retail clients.
The information herein is not intended to provide, and should not be relied upon for, accounting, legal or tax advice or investment recommendations. You should consult your investment, tax, legal, accounting or other advisors.
The views expressed by individuals are their own and not those of the firm. There can be no assurance that professionals currently employed by MillTech will continue to be employed by MGTS.
Group Hedged assets as of 31 January 2025 and is a combination of USD 15.7 billion hedged assets (all strategies that include hedging, up to the maximum amount that can be hedged) managed by Millennium Global Investments Limited and USD 12.6 billion managed by MillTech. Millennium Group comprises Millennium Global Investments Limited and Millennium Global Treasury Services Limited.