BMO Expands Electronic Trading Operations for Institutions and Broker Dealers to EMEA Markets

BMO Financial Group (BMO) (NYSE, 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:

• An experienced team with deep market structure expertise

• The development of bespoke algorithms to meet client trading objectives

• Access to unique liquidity

• A data-driven and iterative approach to getting better executions for clients

For broker dealers, the Clearpool Algorithmic Management System (AMS) provides:

• The ability to control unbiased and transparent routing protocols

• Pre-trade, intra-day and post-trade reporting tools

• Agency or service bureau execution models

• Modern technology stacks, co-located in EMEA and North America

• A user-friendly client portal

“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.