Mogo Inc. announced a new partnership with CI Investment Services Inc. to provide a range of back office services to support MogoTrade, Mogo’s upcoming commission free stock trading app. CI Investment Services is a leading Canadian broker-dealer that provides a wide range of innovative brokerage and trading services to portfolio managers, introducing brokers and institutional investors.
Under the relationship with Mogo, CI Investment Services will provide various operational and back office services, including clearing and settlement, custody of client funds and securities, and trade execution. These services complement Mogo’s in-house capabilities and provide an efficient and flexible path to introduce and scale this new product.
“This agreement represents another important step in the development of our MogoTrade commission free stock trading solution, which we expect will launch later this year,” said Greg Feller, President of Mogo. “CI is a high-quality, tech-savvy partner and we will leverage their capabilities to bring best-in-class operational execution to match what we expect will be a best-in-class product and user experience in the Canadian market. Like Mogo, they are an innovative, non-bank organization, and they bring the scale and depth of resources to support our needs as we grow.”