ACCESSWIRE
10 May 2022, 17:13 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
jamie@calibercorporateadvisers.com
bmo@calibercorporateadvisers.com
Kelly Hechler, Media Relations
BMO Capital Markets
Kelly.hechler@bmo.com
SOURCE: Bank of Montreal Financial Group
Get a daily dose of Boston 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 Boston Star.
More InformationSAN FRANCISCO, California: General Motors' self-driving Cruise division has begun charging fares for driverless rides in San Francisco.Earlier this month, ...
NEW YORK, New York - The euphoria on Wall Street of late last week was absent on Monday as all ...
WASHINGTON D.C.: In May, sales of new U.S. single-family homes unexpectedly increased, but this is expected to be temporary, as ...
LONDON, England: British Airways' staff at London's Heathrow airport has voted to strike due to pay disputes. Amidst an already ...
SYDNEY, NSW, Australia - Stocks across Asia rose on Monday, in a positive start to the week.The U.S. dollar was ...
TOKYO, Japan: Amidst semiconductor shortages and COVID-19 parts supply disruptions, Toyota has reduced its July global production target by 50,000 ...
BOSTON, Massachusetts: U.S. airlines were forced to cancel over 2,800 flights late last week after the Northeast was buffeted by ...
London [England], 25 June (ANI): Researchers from UCL, the University of Cambridge, and Massachusetts Institute of Technology (MIT) constructed a ...
The Baltimore Orioles recalled right-hander Spenser Watkins from Triple-A Norfolk to start Saturday afternoon's game against the host Chicago White ...
The Seoul Dynasty and Hangzhou Spark each recorded a sweep during East Region play on Saturday in the Overwatch League's ...
The version of Javier Baez that the Detroit Tigers expected to see has arrived. The suddenly hot shortstop has homered ...
The Boston Red Sox put the clamps on the host Cleveland Guardians in the first game of their three-game set ...