BMO Expands Its Borders to Provide Broker-Dealers in EMEA With Its Electronic Trading Services

BMO Financial Group (BMO) (NYSE, TSX: BMO) has expanded 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 US 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.”

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.”

  • Francis is a junior journalist with a BA in Classical Civilization, he has a specialist interest in North and South America.