Commodities and derivatives broker Optionable Inc. has issued a statement defending its services.

Last night, BMO Financial Group announced that it has suspended its dealings with Optionable, along with suspending a couple of its traders, pending a review of BMO’s trading in that sector. The move came after BMO reported some significant commodities trading losses.

“Gains and losses are both inevitable in trading energy derivatives. We are never pleased when losses dominate for one of our clients, but we do not design or help to design their strategies, nor are we financial advisors,” said Albert Hemig, Optionable chairman, in a statement.

“We provide brokerage and execution services for trades that we are instructed to make by our clients. We believe strongly that our brokerage and execution services are and have been rendered appropriately, professionally and correctly,” he added.