ACCESS Newswire
10 May 2022, 12:43 GMT+10
NEW YORK, NY and LONDON, UK / ACCESSWIRE / May 10, 2022 / BMO Financial Group (BMO) (NYSE:BMO)(TSX:BMO) today announced the expansion of its electronic trading footprint in Europe, Middle East, and Africa (EMEA), launching its electronic trading services for institutions and broker-dealers outside of North America for the first time.
As part of its ongoing commitment to being Digital First, BMO is focused on driving speed, innovation, and efficiency by leveraging technology, data and analytics to drive customer growth and deepen relationships.
BMO acquired Clearpool Group in 2020 to accelerate the development of its electronic trading solutions for the modern market microstructure across multiple asset classes and regions. Prior to the acquisition, BMO leveraged the Clearpool Algorithmic Management System (AMS) for its institutional electronic trading offering. Post-acquisition, in the U.S. and Canada, BMO's institutional electronic trading has continued to gain momentum amongst asset managers and hedge funds. BMO continues to invest and add resources to leverage the AMS and bring a uniquely differentiated offering to institutions, while continuing to serve and grow the 120+ broker-dealer Clearpool client base currently leveraging the AMS software technology.
'Our goal is to expand our capabilities to institutions and broker-dealers in EMEA,' said Joe Wald, Managing Director and Co-Head of Electronic Trading, BMO Capital Markets. 'The European markets have many of the same trading technology needs as North American markets that we have been able to successfully address. Our expertise in market microstructure and developing financial technology puts us in a great position to have an outsized, positive impact. We're excited to bring solutions to market participants and help navigate the ever-changing markets in Europe, the Middle East and Africa.'
Launching in the EMEA region is part of BMO's Digital First commitment to focus on speed, efficiency and scale to accelerate client loyalty and growth. The total electronic offering, for institutions and broker-dealers, is best-in-class - demonstrated by BMO's recognition as the Best Sell Side Trading Desk at the Markets Media Choice Awards and Clearpool's recognition as Best Sell Side Trading Platform at the Water's Sell Side Technology Awards.
For institutions, BMO provides:
For broker dealers, the Clearpool Algorithmic Management System provides:
'Our global trading infrastructure has a distributed architecture and data center footprint that is optimized for minimal latency and designed locally to the regions we serve,' said Michael Green, COO and Head of EMEA Electronic Trading. 'Launching our product in EMEA is a testament to our team's dedication and commitment to transforming electronic trading globally.'
BMO is working with speed and scale to drive progress for its clients, unlock the power of its people and deliver loyalty, growth and efficiency. In preparation for the launch, BMO has made prominent senior management, operations and sales hires in EMEA. New hires include: Michael Green, COO and EMEA Head of Electronic Trading; Yashar Asl, EMEA Electronic Sales; Kavel Patel, EMEA Electronic Sales; and Toby Benzie, EMEA Broker Dealer Sales. BMO has an established presence in London, Paris and Dublin and opened a new London office in January 2022.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $1.02 trillion as of January 31, 2022, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
Media Contact
Jamie Kemp
Caliber Corporate Advisers
[email protected]
[email protected]
Kelly Hechler, Media Relations
BMO Capital Markets
[email protected]
SOURCE: Bank of Montreal Financial Group
Get a daily dose of Vancouver Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Vancouver Star.
More InformationWASHINGTON, D.C. A Delta Air Lines plane with nearly 300 people on board had an engine fire after leaving the gate at Orlando International...
WASHINGTON, D.C.: In November, a passenger plane was about to land at San Francisco airport when the pilots suddenly saw a drone flying...
LAHORE, Pakistan: A Christian man in the town of Jaranwala, in eastern Pakistan, will appeal a death sentence given to him by an anti-terrorism...
CUTID, Philippines: On April 18, Good Friday, Christian believers in the Philippines were nailed to crosses in a reenactment of Jesus...
WASHINGTON, D.C.: The United States will limit visas for more than 250 officials from Nicaragua, U.S. Secretary of State Marco Rubio...
LANSING, Michigan: The Health Department in Michigan confirmed a measles outbreak in Montcalm County this week, marking the first such...
CHICAGO, Illinois: Motorola Solutions rolled out a new multi-functional device aimed at streamlining emergency response for law enforcement...
HANOI, Vietnam: Vietnam's government has ordered stricter oversight of goods headed to the United States and other major markets, aiming...
TOKYO, Japan: Japan had a trade deficit in the past fiscal year, but made a trade surplus with the U.S., the Finance Ministry said...
NEW YORK, New York - U.S. stocks made ground on Thursday as U.S. President Donald Trump said he was meeting with China soon. The...
MOSCOW, Russia: Russia's central bank is widely expected to leave its benchmark interest rate unchanged at 21 percent when it meets...
PHNOM PENH, Cambodia: Cambodia and China have revived work on a stalled canal project that aims to connect the Mekong River to the...