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Why BMO lost $180 million during just one day of trading
video Bank of Montreal had about $180 million in trading losses on a single day in March, a sign of just how risky stocks were as the coronavirus outbreak became a global pandemic. The loss, disclosed Wednesday in a quarterly presentation, marks the company’s worst trading day in more than a decade. “On that day, there was significant volatility in the market related to both equity levels, volatility levels and relationships that exist between different reference spots in the market,” Chief Financial Officer Tom Flynn said in an interview Wednesday. Two-thirds of the trading losses on that day were tied to ... (full story)
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