Pursuant to the implementation of the European Markets in Financial Instruments Directive (MiFID), the Financial Services Authority of the United Kingdom (FSA) requires that any investment firm authorised in the United Kingdom must establish and implement effective arrangements for complying with the obligation to take all reasonable steps to obtain the best possible result when executing orders in financial instruments on behalf of clients. These arrangements should be documented in an order execution policy. Firms are required to provide clients with appropriate information on their order execution policy and to obtain clients’ consent to the policy.

Information on the order execution policy of BMO Capital Markets Ltd and the London branch of the Bank of Montreal may be obtained here. Information on the execution venues we currently place significant reliance upon may be obtained here. Material changes to the order execution policy, including to the venues we place significant reliance upon, shall be notified to clients by way of this website. Clients should periodically refer to this website for updates.