BMO Financial Group to Acquire Clearpool Group Inc.

New York and Toronto (ots/PRNewswire) -

- Fintech acquisition delivers modern, cloud-based electronic trading
platform with visual data analytics and customizable algorithmic
strategies
- Emphasizes BMO's priorities to provide innovative technology to
clients and expand in areas of opportunity and strength

- BMO Financial Group (NYSE, TSX: BMO) today announced that it has entered into
a definitive agreement to acquire Clearpool Group Inc., a New York-based
provider of holistic electronic trading solutions and an independent agency
broker-dealer operating in the U.S. and Canada. The transaction is subject to
receipt of required regulatory approvals and other customary conditions and is
currently expected to close in the calendar second quarter. Terms were not
disclosed.

The transaction delivers powerful new capabilities to BMO's electronic trading
platform. As the nature of equity trading shifts to increased emphasis on
electronic trading, the acquisition of Clearpool demonstrates BMO's commitment
to delivering leading edge trading technology to its global client base.

Founded in 2014, Clearpool has approximately 60 employees and over 100 clients,
primarily U.S. broker dealers who utilize the company's trading technology and
execution services. Its Algorithmic Management System (AMS) provides a fully
customizable suite of algorithmic trading tools designed to service the best
execution needs of institutional clients. Clearpool is a 2019 Waters Rankings
Winner - Best Algorithmic Trading Provider and a recipient of the 2019 Markets
Choice Awards - Best Algorithmic Trading Company.

"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. "The acquisition of Clearpool is consistent with these
priorities as it gives us access to leading next-gen trading technology and a
broker-dealer client base."

On closing, Clearpool will be a separate broker-dealer with information barriers
to secure clients' confidential information.

"Clearpool's business was built on providing transparency and control to all
market participants," said Aine O'Flynn, Managing Director and Head of Global
Equity Products, BMO Capital Markets. "We are committed to maintaining those
principles."

"We are very excited to join BMO," said Joseph Wald, CEO and Co-Founder,
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. None of this would be possible