BMO's Foreign Exchange Group consistently recognized for its leading FX
TORONTO, November 20 - Capabilities
BMO Capital Markets, the investment and corporate banking arm of BMO
Financial Group (TSX, NYSE: BMO), has been named the Best Bank for the
Canadian Dollar by FX Week Magazine.
This is the first time BMO Capital Markets has received this honour,
which is determined by votes from foreign exchange market professionals
around the world. The FX Week Best Bank Awards are presented annually in
London, U.K. during November.
"As the benchmark for the performance in the global FX industry, the FX
Week Best Bank Awards are the most accurate indicator of who is leading the
forex marketplace," said Stephen Couling, Publisher, FX Week. "And there is
no question BMO Capital Markets has earned the No. 1 ranking in the Canadian
dollar as judged by some of the largest and most influential FX
participants."
In this year's survey, nearly 7,000 respondents from banks, corporate
treasurers and investors, including fund managers, institutional investors
and hedge funds, nominated their preferred banks, brokers and vendors in 39
categories. Each institution was awarded three points for a first-place
nomination, two for second-place and one for third-place. In the Canadian
dollar category, BMO Capital Markets was ranked first by banks and investors
and second by corporations - which resulted in a first-place finish overall.
This recognition is one of several awards that BMO Capital Markets has
recently won for its overall excellence in foreign exchange. In September,
BMO Capital Markets was named the best foreign exchange bank in Canada by
European CEO Magazine. Earlier this year, BMO Capital Markets was voted best
FX market-maker in a survey by the China Foreign Exchange Trade System
(CFETS) and the Interbank Funding Centre. Global Finance Magazine also named
BMO Capital Markets the Best Investment Bank in Canada in a 2008 survey.
"We are honoured to be recognized by FX Week as the No. 1 dealer for the
Canadian dollar globally," said Jamie Thorsen, Global Head of Foreign
Exchange Products, BMO Capital Markets. "Our goal is to continue to build
long-term sustainable client relationships and provide a unique perspective
that offers a differentiated depth of expertise in the Canadian dollar. We
are all about helping our clients turn currency risk into reward."
BMO Capital Markets' Foreign Exchange Group is a team of nearly 100
professionals around the world from Beijing to Chicago. BMO has FX offices in
eight cities globally, including a foreign exchange sales and trading desk in
London, U.K., which opened in 2007.
The FX group holds a dominant position in the Canadian-dollar foreign
exchange market and is top-ranked by large hedge funds and pension funds for
institutional liquidity and pricing capacity. BMO's Foreign Exchange Group
trades in all major and other exotic currencies - close to 50 tradable
currencies and exotics and over 100 currency pairs. The group offers clients
a wide range of capabilities, including:
- Canadian-dollar market making
- North American hedging
- Chinese transactions
- 24 hour trading
- Structured risk-management solutions including derivatives, swaps and
options, and real-time order monitoring and quotes through its
leading web-based platforms DirectLine(R) and eFXpedite
For more information, visit:
www.bmocm.com/products/marketrisk/fx/
About BMO Capital Markets
BMO Capital Markets is a leading full-service North American financial
services provider, with over 2,200 employees operating in 14 North American
offices and 27 worldwide, offering corporate, institutional and government
clients access to a complete range of investment and corporate banking
products and services. BMO Capital Markets is a member of BMO Financial Group
(TSX, NYSE: BMO), one of the largest diversified financial services providers
in North America with US$385 billion total assets and 37,000 employees as at
July 31, 2009.
About FX Week Magazine
Published since 1990, FX Week is the industry's exclusive publication
for foreign exchange and money market professionals working within banks,
brokerages, institutions and corporate treasuries. FX Week's expert editorial
team operates out of London, the heart of the foreign exchange market, with
support from editorial offices in New York and Hong Kong, ensuring that
subscribers are provided with the information on the powerful forces that
are making the markets tick and the events that are shaping the FX industry
world-wide. For more information, visit, www.fxweek.com
For further information: Media Contacts: Kim Hanson, Toronto,
kim.hanson@bmo.com, +1(416)867-3996; Ronald Monet, Montréal,
ronald.monet@bmo.com, +1(514)877-1101; Laurie Grant, Vancouver,
laurie.grant@bmo.com, +1(604)665-7596; Internet: www.bmocm.com
For further information: Media Contacts: Kim Hanson, Toronto, kim.hanson at bmo.com, +1(416)867-3996; Ronald Monet, Montréal, ronald.monet at bmo.com, +1(514)877-1101; Laurie Grant, Vancouver, laurie.grant at bmo.com, +1(604)665-7596; Internet: www.bmocm.com
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