BMO Capital Markets Creates Advanced Ph.D Level Research Scholarship

    University of Toronto Ph.D. candidate in Computer Science, Vladimir
    Surkov, to receive inaugural $20,000 annual award for his research on
    Fast Fourier Transform-based Numerical Methods for Option Pricing

    TORONTO, May 13 /CNW/ - Vladimir Surkov, a Ph.D. student at the
University of Toronto, is the inaugural recipient of the annual BMO Capital
Markets Advanced Research Scholarship.
    Mr. Surkov will receive a $20,000 honorarium for his research work on
Fast Fourier Transform-based Numerical Methods for Option. Applications of
this research will be used for derivatives valuation. Mr. Surkov's work has
also been published in the Journal of Computational Finance. Mr. Surkov plans
to pursue post-doctoral studies at the University of Western Ontario and the
Field Institute in Toronto.
    "This scholarship award emphasizes BMO's commitment to education and the
importance of fostering advanced research at Canadian universities. Vladimir's
work was one of several great proposals that we received," said Pat Cronin,
Executive Managing Director and Head of Financial Products and Debt Products,
BMO Capital Markets.
    "I am very honoured to be chosen to receive this award on my Ph.D.
research. I am excited by the opportunity to collaborate with BMO Capital
Markets to further my research in the area of quantitative finance," added Mr.
    The scholarship program, in its first year, was launched to advance
research in capital markets. Academics and Ph.D.-level candidates in
mathematics, finance or similar areas were invited to submit research
proposals on specific topics, including advanced pricing theory; advanced risk
management techniques; advanced trading strategies relating to derivative
markets; and market microstructure and trade execution. The award committee
was made up of five BMO Capital Markets quantitative analysts, who all hold
Ph.D. degrees

    About BMO Capital Markets

    BMO Capital Markets is a leading full-service North American financial
services provider, with over 2,400 employees operating in 14 North American
offices and 26 worldwide, offering corporate, institutional and government
clients access to a complete range of investment and corporate banking
products and services. BMO Capital Markets is a member of BMO Financial Group
(NYSE, TSX: BMO), one of the largest diversified financial services providers
in North America with US$361 billion total assets and 37,000 employees as at
January 31, 2009.

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For further information:

For further information: Media Contacts: Orli Namian, Toronto,, (416) 867-3996

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