Currency manager Millennium Global recently launched MillTechFX, which it describes as an “independent, comparative multi-bank FX marketplace which reduces FX execution costs and operational burdens”.
The platform is the latest attempt to provide lower-cost FX services to fund managers and corporate treasurers – two groups that research suggests find it hard to access competitive rates.
Analysis of share-class hedge returns conducted by Lumint and New Change FX last year suggested that average FX trading costs were more than 10 times higher than they should be.
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