Clearpool Announces Completion of Acquisition by BMO Financial

Clearpool Group, an electronic trading solutions provider and an independent agency broker-dealer, announced this Monday that the BMO Financial Group has now acquired it.

In a statement filed through the London Stock Exchange's news service, the New York-headquartered firm said that the completion of the transaction would accelerate the development of its electronic trading solutions.

The terms of the transaction, such as how much BMO paid to acquire Clearpool, were not disclosed. However, the broker-dealer will remain as a separate brand under the BMO Financial Group.

Commenting on the acquisition, Joseph Wald, CEO of Clearpool, said in the statement: "From inception, Clearpool has been committed to delivering innovative trading solutions that provide complete transparency and control to market participants.

"BMO's Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Clearpool will fuel our strategic growth and provide our partners with a more robust AMS that will continue empowering them to achieve better quality executions."

BMO acquires Clearpool as equity trading nature shifts

According to the statement, as the nature of equity trading is changing to an increased emphasis on electronic trading, the acquisition highlights the fact the BMO's priority is to be a provider of technology to a global client base.

BMO Capital Markets is a full-service North American based financial services provider, servicing corporate, institutional, and government clients.

"We have long admired BMO's commitment to innovation," added Ray Ross, CTO and Co-Founder of Clearpool, in the statement. "BMO's desire to deliver exceptional client experiences, drive an innovation mindset, and activate a high performance culture will accelerate Clearpool's product development and enhance our ability to deliver a technology that will enable our clients to own a unique and differentiated algorithmic trading solution."

BMO first announced the acquisition earlier this year on the 22nd of January 2020. The deal provides the financial services firm with robust new capabilities to its electronic Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term.