BMO InvestorLine Inc. and Aequitas NEO Exchange Inc., both based in Toronto, have formed a partnership that gives clients of the discount brokerage access to the securities listed on the NEO exchange.
The arrangement gives BMO InvestorLine clients access to real-time quotes and direct online trading of Toronto-based Invesco Canada Ltd.’s PowerShares DWA Global Momentum Index exchange-traded fund (ETF), the NEO Exchange’s only listing. That ETF is the “forerunner of more NEO Exchange-listed ETFs soon to be announced,” according to a statement released on Tuesday.
BMO InvestorLine is the first bank-owned online broker to partner with the exchange in order to provide its self-directed investors the ability to trade NEO-listed securities directly through a discount brokerage platform.
“It is a tremendous testimony to our continued focus on ensuring that our clients have the ability to trade and access quotes across all Canadian securities, regardless of where they are listed,” says Julie Barker-Merz, president of BMO InvestorLine, in a statement.
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