New York-based Clearpool Group, Inc., a provider of electronic trading software and independent agency broker-dealer execution services, has announced a multi-year strategic partnership with Toronto-based BMO Capital Markets, the investment and corporate banking arm of BMO Financial Group.
Clearpool will be licensing its algorithmic management system (AMS) infrastructure to BMO to execute Canadian equities for their institutional clients.
“Our award-winning AMS will empower BMO to deliver a suite of fully customizable algorithms, have control and transparency in their routing protocols, and provide them with comprehensive real-time performance and routing analytics, says Joe Wald, CEO of Clearpool, in a statement.
“Expanding into Canada and Europe is part of our global commitment to develop electronic trading solutions that bring forth transparency to promote fair and equitable markets,” he adds.
BMO will also have use to Clearpool’s Smart Order Router, which will give cross-boarder access to U.S. and Canadian Equity markets. Current Clearpool clients will also hae the ability to trade Canadian equities via the AMS.
“We are excited to work with Clearpool as the exclusive Canadian dealer to offer the AMS platform to clients trading Canadian equities,” says Aine O’Flynn, head of global equity products at BMO Capital Markets, in a statement.
“It is an opportunity for us to leverage an electronic trading infrastructure that helps clients with the customization, execution, analysis and optimization of algorithmic strategies,” she adds. “Electronic trading is a key strategic priority for us and this partnership reinforces BMO’s commitment to the space in Canada.”