Amidst ongoing currency volatility, chief financial officers are facing heightened challenges, as the risk of adverse currency movements threatens to negatively impact profits. MillTechFX has seen an increase in its risk management services, largely due to the rising importance of FX risk management among senior finance executives worldwide, coupled with their need for a transparent and straightforward solution.
During the review period, MillTechFX launched a partnership with Investec Bank, offering fund managers a margin-free FX hedging solution. In addition, Stuart Gulliver, former CEO of HSBC, joined MillTechFX’s international advisory board. Over the past year, MillTechFX has achieved very significant client and revenue growth, with 6x revenue growth in 2023 against 2022, and doubling of revenue expected in 2024 from 2023.
Looking ahead, MillTechFX is introducing an additional risk management step before actual execution. This will enable clients to make better decisions, particularly in forecasting how factors like carry might affect their hedging costs and understanding the non-hedging impacts, such as cash flow movements.