Clearpool Group, an electronic trading solution and independent agency broker-dealer execution service, in a move to further its impact on modern market microstructure, agreed to be acquired by BMO Financial Group (NYSE: BMO).
“We are thrilled to be joining BMO Capital Markets," said Joseph Wald, CEO and Cofounder of Clearpool. "The acquisition positions us well to accelerate the next step in our platform development and provide the infrastructure to become a global, multi-asset class electronic trading solution.”
As part of the acquisition, Clearpool will maintain its stance on providing transparency and control to all market participants. Aside from deepening innovation at BMO, the firm will continue providing trading technology and execution services to new and existing clients.
“BMO Capital Markets is accelerating on our strategic priorities of delivering exceptional client-experiences, driving an innovation mindset, activating a high performance culture, and simplifying how we do business,” said Dan Barclay, CEO, BMO Capital Markets.
BMO’s access to Clearpool's trading technology know-how will allow it to better empower new and existing customers across multiple asset classes and regions.