Clearpool Execution Services resigns from IIROC membership

Maria Nikolova

The resignation is effective May 28, 2020.

The Investment Industry Regulatory Organization of Canada (IIROC) has published a brief notice on its website announcing that Clearpool Execution Services (Canada) Limited has resigned from membership in IIROC. The resignation is effective May 28, 2020.

The announcement is barely surprising, given that in March 2020, IIROC said it had been informed that Clearpool’s intention to resign its membership, following the closing of its acquisition by BMO Nesbitt Burns Inc.

As FinanceFeeds reported in April 2020, Clearpool Group, a New York-based provider of holistic electronic trading solutions and an independent agency broker-dealer, announced that BMO Financial Group finalized its acquisition of the company. Terms of transaction were not disclosed.

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

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

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