MillTech partners with BlackRock to launch institutional cash management platform - Trade Treasury Payments

MillTech, an FX-as-a-service provider, has launched a new cash management platform in collaboration with BlackRock. The platform is designed to help institutional investors and multinational corporations manage excess cash more efficiently across currencies and fund providers.

Built on BlackRock’s CacheMatrix technology, the solution offers users direct access to a range of institutional money market funds through a single interface. It aims to address common treasury challenges, including operational inefficiencies and underutilised idle balances.

According to MillTech, which was founded in 2019, the platform enables automated trade execution and real-time access to fund options, a process that has typically required manual input.

Eric Huttman, CEO of MillTech, 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.”

The initiative coincides with MillTech’s rebrand from MillTech FX as the firm shifts its strategic focus beyond currency execution. The expansion into cash management is being led by Matthew Shapcott and Neil Gallacher, both of whom previously held senior roles at State Street’s GlobalLink.