MillTech expands with Cash Management & AI Co-Pilot

Key takeaways:

• MillTech has collaborated with BlackRock’s CacheMatrix to launch its Cash Management offering to include simplified and automated Money Market Fund access for Investment Managers and Global Corporates
• MillTech has also launched Co-Pilot: a Risk Advisory and Calculation Services platform designed to enhance client decision-making in optimising FX and Cash Management
• The company brand has evolved to ‘MillTech’ from ‘MillTechFX’, now reflecting it’s more holistic treasury offering for clients.

 

London, June 2025 - FX hedging specialist, MillTech, has launched a new cash management solution, in collaboration with BlackRock’s CacheMatrix, to help investment managers and global corporates optimise their excess cash. Its solution automates cash investments and enhances returns through direct access to an integrated marketplace of Tier-1 money market funds.

MillTech has experienced significant success in providing the investment community and global corporates with automated currency management and access to better FX rates.

The firm, which has an average annual group trading volume of $500bn+, over 250 client entities and $28bn in group hedging programmes, has now set its sights on solving another key problem within treasury management: the operational complexity of optimising excess cash.

 

Cash management solution in collaboration with BlackRock’s CacheMatrix

MillTech has launched a new Cash Management platform in collaboration with BlackRock’s CacheMatrix, offering competitive returns from a range of AAA-rated money market funds while removing operational complexity.

Addressing key challenges for treasury teams:

• Operational inefficiencies - Managing multiple money market fund relationships can be administratively heavy, often involving repetitive onboarding processes and fragmented reporting.
• Idle cash drag – Cash left uninvested in bank accounts often generates little or no return, reducing potential yield.
• Rate inconsistency - Without centralised access to multiple MMF providers, comparing yields and securing the most competitive rates can be challenging.

Platform features:

• AAA-rated funds – Direct access to AAA-rated funds for maximum security and minimal credit risk.
• Streamlined multi-bank onboarding - Quick access to tier-one liquidity providers through a simplified, multi-bank setup.
• End-to-end automation - Fully automated investment workflows to save time and reduce risk.
• Auto cash settlement via SWIFT - Seamless cash transfers with minimal manual input.
• Enhances control and compliance - Rules-based framework to support informed, compliant cash allocation decisions.

 

MillTech Co-Pilot Risk Advisory Platform

MillTech’s Co-Pilot platform integrates advanced analytics, automation, and robust governance tools to help corporates and funds optimise liquidity management and foreign exchange (FX) strategies.

Key challenges addressed by Co-Pilot:

• Complex FX risk assessment – Limitations in modelling exposures and evaluating hedging strategies in dynamic market conditions.
• Limited governance oversight – Lack of robust tools to monitor policy compliance, market alerts, and performance analysis.
• Cost-of-carry visibility gaps – Challenges in tracking and analysing cost-of-carry across different currencies, instruments, and time horizons.
• Inefficient cash utilisation – Difficulty identifying and reallocating excess balances promptly, resulting in missed yield opportunities.
• Manual and inconsistent hedging workflows – Fragmented processes and disconnected data sources hinder consistent, rules-based strategies.

Key features:

• Hedging simulator – Models multiple FX hedging strategies and tests alternative FX or liquidity scenarios in a controlled environment.
• Carry analysis tool – Tracks and evaluates cost/carry across currencies, instruments, and durations, with impact analysis on cash flows and IRR.
• Governance & Control - Institutional-grade oversight with custom hedge policies, counterparty monitoring, value-at-risk (VaR) metrics, macro-market alerts, and independent transaction cost analysis (TCA).
• Auto‑hedging - Fully automates hedging workflows across assets, share classes, and balance sheets using rule-based calculations, intelligent tenor selection, and performance benchmarking.
• Cash optimisation – Automatically identifies excess cash using customisable rules, deploys it based on best available returns, and tracks utilisation to ensure optimal yield.

 

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. 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.

Recognising the critical role of analysis and stress-testing in risk management as well as the power of AI, our Co-Pilot offering empowers users with actionable and explainable insight. By simulating different strategies and their financial impact, Co-Pilot helps firms optimise outcomes, minimise risk and make more confident decisions that directly help them protect their bottom lines.

The expansion of our business and the evolution of our brand are natural next steps, driven by our success to date. We remain committed to continuous innovation to solve key problems in the treasury landscape, with exciting further developments on the horizon.

Eric Huttman, CEO of MillTech

 

Core FXaaS offering remains central

MillTech’s multi-award-winning FX-as-a-Service (FXaaS) solution is trusted by some of the most established investment managers and global corporates to automate operational FX workflows and reduce costs through competitive rates from Tier-1 liquidity providers — all on a single platform.

Key challenges addressed by the FX Management solution:

• Lack of transparency – Limited visibility of FX costs (spreads, fees, and market impact) makes achieving best execution difficult.
• Lack of counterparty diversity – Over-reliance on a small number of providers reduces pricing competition and increases risk.
• Manual processes – Manual instruction and post-trade reporting can increase error risk, slow execution, and limit scalability.
• Cash flow constraints – High margin requirements on FX contracts restrict liquidity, and tie up working capital in volatile markets.

Key features:

• Cost saving at scale - Over $500 billion traded annually, unlocking FX pricing typically reserved for the largest global institutions.
• Broader market access – Compare FX rates from up to 15 Tier-1 liquidity providers to secure optimal pricing.
• Automated workflows - End-to-end automation from multi-bank ISDA onboarding, through to, execution, settlement, and post-trade reporting.
• Full transparency – Embedded, independent transaction cost analysis delivers clear visibility on execution quality and total trading costs.
• No margin hedging - Aiming to provide FX hedging solutions without the need for initial or variation margin, helping to preserve working capital.*

* *Excludes any required regulatory margin