TORONTO and NEW YORK, April 25, 2018 /CNW/ - BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group (NYSE: BMO) (TSX: BMO), has been named Best Standardized FX Product Market Maker by China Foreign Exchange Trade System (CFETS). BMO Capital Markets' Chinese entity – known as BMO China Capital Markets – was one of only two foreign enterprises recognized for the award.
The CFETS awards identify the best market makers, best member banks, best trading heads and best traders by monitoring key indicators in its trading system, such as client coverage, market making ability and response time. Awards are based on a combination of market trading data and votes from 650 CFETS market participants (banks and financial institutions), as well as recommendations from regulators.
"CFETS serves as the most important trading platform in China's onshore financial market, with the highest daily volume of trades," said Robert Yeung, Head of Europe & Asia Trading Products, BMO Capital Markets. "BMO is among the first foreign banks to be designated as CNY market makers, and since 2006 we have received multiple CFETS awards in FX trading."
CFETS also recognized two individuals from BMO Capital Markets: Vice-President, Elaine Tan as Best FX Trader for the third year in a row, and Director, Regine Ou as Best FX Manager for the second year running.
"We are proud to be acknowledged for one of CFETS' highest awards this year," said Kelsey Gunderson, Global Head of Trading Products, BMO Capital Markets. "We are among the leading overseas banks in foreign exchange transactions in China, and this award exemplifies our ability to serve the needs of corporate clients."
BMO has been has been building relationships in China since shortly after the bank's inception in 1817. The bank undertook its first foreign exchange transaction in support of trade with China in 1818, and was the first Canadian bank in China to price and trade foreign exchange forwards. Today, BMO FX Sales and Trading operates out of 3 branches in Shanghai, Guanzhou and Beijing, part of a team of nearly 100 FX professionals operating in 11 cities including London, Toronto, Montreal, Chicago, Milwaukee, New York, San Francisco, and Hong Kong.
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 of January 31, 2018.
SOURCE BMO Financial Group