CHICAGO, ILLINOIS--(Marketwire - Oct. 4, 2011) - BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group, announced today that it has been designated a Primary Dealer by the Federal Reserve Bank of New York.
Primary dealers serve as counterparties to the Federal Reserve Bank of New York in open market operations, participate directly in Treasury auctions and provide analysis and market intelligence to trading desks at the New York Federal Reserve Bank of New York. BMO is the only Midwestern-U.S. based broker dealer to hold this designation.
"We are delighted to be a part of the group of dealers trading directly with the Federal Reserve Bank of New York," said Charlie Piermarini, Executive Managing Director and Head of Debt Products, BMO Capital Markets. "This designation is consistent with BMO Capital Markets' global development and expansion strategy and is a natural next step as we continue to build our fixed income platform in both the U.S. and internationally."
About BMO Capital Markets
BMO Capital Markets is a leading, full-service North American financial services provider, with more than 2,000 employees operating in 15 North American offices and 27 worldwide, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a part of BMO Financial Group (NYSE:BMO)(TSX:BMO), one of the largest diversified financial services providers in North America with $477 billion total assets (US $499 billion), and more than 47,000 employees as of July 31, 2011.
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