Finance Feeds logo

BMO Financial Group completes acquisition of Clearpool

Maria Nikolova

Clearpool will remain a separate brand under BMO Financial Group.

Clearpool Group, a New York-based provider of holistic electronic trading solutions and an independent agency broker-dealer, today announces that BMO Financial Group has finalized its acquisition of the company. Terms of transaction were not disclosed.

Clearpool will remain a separate brand under BMO Financial Group as well as a separate broker-dealer with information barriers to secure clients’ confidential information.

Joseph Wald, CEO of Clearpool, commented:

“From inception, Clearpool has been committed to delivering innovative trading solutions that provide complete transparency and control to market participants. BMO’s acquisition 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.”

The acquisition emphasizes BMO’s priority to be a provider of innovative technology to a global client base and adds new capabilities to their electronic offering.

Ray Ross, CTO and Co-Founder of Clearpool, said:

“We have long admired BMO’s commitment to innovation. 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.”

In connection with the transaction, Financial Technology Partners acted as financial advisor and Morgan, Lewis, & Bockius LLP, Murphy & McGonigle and Stikeman Elliott LLP acted as legal counsel to Clearpool. BMO Capital Markets acted as financial advisor and Debevoise & Plimpton LLP and Osler, Hoskin & Harcourt LLP acted as legal counsel to BMO.

Subscribe

Read this next

Digital Assets

Masa Announces Comprehensive AI Developer Ecosystem with 13 Dynamic Partners Focused on Leveraging Decentralized Data and Large Language Models

In a groundbreaking development, Masa, the global leader in decentralized AI and Large Language Models (LLMs), proudly announces the launch of its AI Developer Ecosystem, partnering with 13 visionary projects.

digital face
Financewire

Kinesis Mint becomes the official partner for the House of Mandela

Kinesis Mint, the certified independent precious metals mint and refinery of Kinesis, the monetary system backed by 1:1 allocated gold and silver, has been appointed the exclusive coin producer for the House of Mandela.

Photo of Nelson Mandela
Chainwire

Kadena Announces Annelise Osborne as Chief Business Officer

Kadena, the only scalable Layer-1 Proof-of-Work blockchain, expands its leadership team by onboarding Annelise Osborne as Kadena’s new Chief Business Officer (CBO).

Image of a woman with the citate
Fintech

TNS brings full-stack market data management to EMEA

“We are also delighted to have Ben Myers join our London-based TNS Financial Markets team as Head of Strategic Sales for EMEA, to bolster our presence in the region.”

Chainwire

Velocity Labs and Ramp Network facilitate fiat to crypto onramp on Polkadot via Asset Hub support

Velocity Labs is proud to announce a fiat to crypto onramp using Ramp Network through the integration of Asset Hub. Through it, Ramp will be able to service any parachain in the Polkadot ecosystem.

Symbol of Ramp network
Executive Moves

INFINOX hires Mayne Ayliffe as Global Head of HR

“I look forward to working with our teams around the world to develop a strategic HR agenda that supports high performance and is centred on human motivation.”

Mayne Ayliffe joins INFINOX
Fintech

Sterling to provide risk and margin support for fixed income

“Firms must have the tools to effectively manage their risk across all asset classes. As yields rise, we see more exposure from clients in the fixed income space. We understand their need to measure and mitigate risk in a highly regulated environment.”

Retail FX

FXOpen launches HK share CFDs: Tencent, Alibaba, Xiaomi, Baidu

Hong Kong share CFDs will be commission-free for a limited period of time.

Retail FX

IronFX Celebrates an Award-Winning Start to 2024 with a Series of Industry Recognitions

IronFX, a global leader in online trading, has embarked on 2024 with a spectacular display of accolades that highlight its commitment to excellence and innovation in the competitive financial services sector.

<
✖