News Releases
Updated Statement by BMO Financial Group Related to Commodity Trading Losses
BMO is suspending all of its business relationships with the brokerage firm, Optionable, Inc., as well as all derivatives trading through that firm, pending the results of a full external review which is ongoing.
In addition, the company said that it has changed the operating structure of BMO Capital Markets in order to provide additional oversight of the Commodities business, which now reports within a business line most experienced in the trading and valuation of derivatives.
BMO confirmed that two of its commodity trading professionals are on leave pending the results of the external review.
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