Bank Of Montreal Restructures NA Forex, Splitting Canadian & Non-Canadian Trading
BANKS
Bank of Montreal announced plans to consolidate all Canadian dollar trading in Toronto, and all non-Canadian business in Chicago, citing rapid technological growth, intense competition and record low volatility in major currencies as reasons for the decision to restructure in North America, officials say.
The latter two developments, increased competition and low volatility, have induced BMo to centralize its business in the two centres, while enhancing communication between the cities through
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