TORONTO and NEW YORK, April 10, 2018 /CNW/ - BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (NYSE: BMO) (TSX: BMO), today announced it has embarked upon a multi-year strategic partnership with Clearpool Group, a provider of advanced electronic trading software. Clearpool will provide BMO with a fully customizable Algorithmic Management System (AMS) infrastructure to execute Canadian equities for BMO's institutional clients.
"We are excited to work with Clearpool as the exclusive Canadian dealer to offer the AMS platform to clients trading Canadian equities," said Aine O'Flynn, Head of Global Equity Products, BMO Capital Markets. "It is an opportunity for us to leverage an electronic trading infrastructure that helps clients customize, execute, analyze and optimize algorithmic strategies. Electronic trading is a key strategic priority for us and this partnership reinforces BMO's commitment to the space in Canada."
"We are thrilled that BMO has chosen Clearpool to enhance their algorithmic trading with our AMS infrastructure, which includes access to our Smart Order Router, providing cross-border access to Canadian and US equity markets," said Joe Wald, CEO of Clearpool. "We have a global expansion plan to introduce our award winning AMS in Canada and Europe. There's never been more global demand for transparency, nor a more appropriate time for a platform that delivers unparalleled routing control, transparency in routing, and real-time performance and venue analytics."
About BMO Capital Markets
BMO Capital Markets is a leading, full-service North American-based financial services provider, with approximately 2,500 professionals in 30 locations around the world, including 16 offices in North America, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group (NYSE, TSX: BMO), one of the largest diversified financial services providers in North America with US$591.6 billion total assets as at January 31, 2018.
Launched in 2014 and based in New York, Clearpool Group, Inc., offers advanced electronic trading software and provides independent agency broker dealer execution services. With over 100 AMS clients and executing approximately 2% of the US equity market volume, Clearpool's algorithmic management system empowers market participants to take control of better quality execution by delivering advanced electronic trading solutions for an evolving equity market microstructure and competitive landscape. www.clearpoolgroup.com
SOURCE BMO Financial Group