Bank of Montreal 2014 Annual Report Download - page 82

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MD&A
Trading Net Revenue
The charts below present daily net revenues versus total trading and AFS VaR, along with a representation of daily net revenue distribution. During
the current year, the largest loss occurred on October 31, and was the result of normal trading activity and valuation adjustments. The largest gain
occurred on September 30, and was primarily due to normal trading and underwriting activity.
Frequency Distribution of Daily Net Revenues
November 1, 2013 to October 31, 2014 ($ millions)
Daily net revenues (pre-tax)
Frequency in number of days
246810(11) (6) (4) (2) — 22 24 26 28 32 36
0
5
10
15
20
25
30
35
40
12 14 16 18 20
Daily Revenues Total Trading VaR Total AFS VaR
(30)
(10)
10
30
50
Nov 1
Oct 31
Jul 31
Apr 30
Jan 31
Trading Net Revenues versus Value at Risk
November 1, 2013 to October 31, 2014 ($ millions)
Material presented in a blue-tinted font above is an integral part of the 2014 annual consolidated financial statements (see page 77).
BMO Financial Group 197th Annual Report 2014 93