Bank Of Montreal's FX Desk Goes 24-Hours In Toronto

BANKS

In an effort to increase North American corporate business and capture some of the European trading activity, the Bank of Montreal took its Toronto foreign exchange trading desk 24 hours early last week, the only large Canadian bank to do so.

The desk, which had previously been open from 7 a.m. to 11 p.m., currently operates with a staff of three, but given its enthusiastic reception, will likely grow to five or six, says Rod Fowler, vice president, foreign exchange at the bank. While the ban