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Armando Benitez’s Bank of Montreal career started in the world of exchange-traded funds. When he joined the bank’s capital markets division eight years ago, his team was tasked with pricing equity ETFs and comparing them to other market-makers. “You have to start from the data perspective, and you have to understand the story that the data is telling,” Benitez says.
While pricing ETFs may appear to be a simple task, he says that back then, no-one had done it yet. It eventually led the way to more
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