Bank of Montreal 2015 Annual Report Download - page 91

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MD&A
MANAGEMENT’S DISCUSSION AND ANALYSIS
Trading Net Revenue
The charts below present daily net revenue plotted against total trading VaR, along with a representation of daily net revenue distribution. During the
current year, the largest loss occurred on June 30, and was the result of normal trading activity and valuation adjustments. The largest gain occurred
on February 27, and was primarily due to normal trading and underwriting activity.
Frequency Distribution of Daily Net Revenues
November 1, 2014 to October 31, 2015 ($ millions)
Daily net revenues (pre-tax)
Frequency in number of days
7 8 9 12 1410 11 13(2) (1) 0 1 2 3 4 65 232425313234353715 16 17 18 19 20 21 22
0
5
10
15
20
25
Daily Revenues Total Trading VaR
Trading Net Revenues versus Value at Risk
November 1, 2014 to October 31, 2015 ($ millions)
(20)
(10)
0
10
20
30
40
Nov 03
Dec 15
Jan 29
Mar 13
Apr 27
Jun 09
Jul 22
Sep 03
Oct 19
Material presented in a blue-tinted font above is an integral part of the 2015 annual consolidated financial statements (see page 86).
102 BMO Financial Group 198th Annual Report 2015