MillTech has unveiled a new cash management solution in partnership with BlackRock’s CacheMatrix, aiming to help investment managers and corporates maximise returns on excess cash through seamless access to tier-1 money market funds.
Known for its leadership in automated currency management, MillTech supports over 250 clients with an annual trading volume exceeding $500bn and group hedging programmes totalling $28bn. Now, the firm is tackling a growing pain point in treasury: the challenge of navigating fragmented infrastructure, manual execution, and dispersed money market fund relationships that frequently leave cash underutilised.
The newly launched platform provides direct access to multiple money market fund providers via a single, automated interface. By automating the trade lifecycle and delivering full transparency on costs, MillTech’s tool streamlines investment operations, while rules-based workflows bolster compliance and control.
This strategic product expansion has been bolstered by the recruitment of two senior executives, Matthew Shapcott and Neil Gallacher. Shapcott, previously EMEA head of GlobalLink Business Development at State Street, brings extensive experience in cross-border fund platforms. Gallacher also joins from State Street, where he led APAC operations for GlobalLink Fixed Income. Their industry expertise is expected to drive client adoption across global markets.
Alongside its cash management launch, the firm has rolled out “Co-Pilot”, an AI-powered risk advisory platform. This next-generation solution is designed to support better decision-making in FX risk management and cash deployment. Initial features include a hedging simulator for strategy testing and a carry analysis tool, which allows clients to monitor interest rate differentials and their impact on FX strategies.
MillTech CEO Eric Huttman said, “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.”
Source: https://fintech.global/
