MillTech Partners with Cachematrix
TMI posted the story, "MillTech Launches Cash Management Solution, Partnering With BlackRock." It says, "FX hedging specialist, MillTech, has launched a new cash management solution, in partnership 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." The update tells us, "Enhancing multi-currency cash returns is a complex task. Fragmented systems, manual processes and limited automation make it difficult for treasury teams to track and manage global cash effectively. Maintaining multiple money market fund relationships adds to the operational burden, often resulting in underperforming idle cash sitting in a bank account. MillTech's new cash management solution enables clients to access the best available returns from multiple money market fund providers, while automating the trade lifecycle and providing complete cost transparency. The platform delivers streamlined onboarding and end-to-end automation, simplifying the investment process. Through a rules-based approach, MillTech enhances control and compliance, giving treasury teams added confidence in their cash allocation decisions." TMI adds, "The firm's expansion into cash management is being led by two recent hires, Matthew Shapcott and Neil Gallacher. Prior to MillTech, Shapcott served as EMEA Head of GlobalLink Business Development at State Street and brings two decades of experience in the industry. Gallacher was formerly Senior Business Development Director and head of APAC for GlobalLink Fixed Income at State Street and brings nearly 15 years of deep expertise in money markets."
