Toronto

Electronic Trading

We use sophisticated data and analytical tools to optimize our sales force and develop new, innovative trading products for clients. Our sales professionals are complemented by our strong global electronic trading capabilities. By continuously investing in technology, we are able to deliver innovative electronic trading solutions to clients worldwide.

Our Global Electronic Trading team – comprised of traders, quantitative developers and market specialists – provides innovative products and services that empower clients to navigate market challenges. Our client-centric team delivers the best execution, trading and market structure information in the industry through continual innovation and refinements.

THOR

THOR is RBC’s patented smart order routing technology designed to improve execution quality, minimize information leakage and control trading costs. THOR interacts seamlessly with RBC’s streamlined algorithm suite, as well as DMA orders, Cash Desk and Program trades.

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RBC Algo Suite

Our proprietary and powerful algorithmic trading suite uses our patented THOR routing technology.

  • RBC NOW – Aggressively seeks liquidity while managing market impact.
  • RBC Eclipse – Uses stock-specific triggers to opportunistically source liquidity.
  • POV – Tracks volume at a specific participation rate.
  • Implementation Shortfall – Follows a front-loaded schedule quantitatively optimized to balance market impact and opportunity cost.
  • RBC Provider – Proactive, price-opportunistic strategy that leverages alpha signals and order book dynamics to gain passive fills and minimize market impact.
  • VWAP/TWAP – VWAP follows a schedule based on current market conditions and the stock’s historical profile. TWAP follows a straight-line schedule.
  • RBC Dark – Dark aggregator that actively accesses liquidity in carefully selected pools.
  • RBC Select – Liquidity seeking strategy that uses a single aggressiveness parameter to drive execution.

Market Structure Strategy

Behind every smart investment decision is smart research. Our industry-recognized Market Structure team researches the timeliest issues in the markets and assesses how those issues impact institutional investors, allowing our clients to stay ahead of evolving market trends.

 

Market Microstructure Strategy Consulting

Our Market Structure Strategy group analyzes:

  • Global exchange trends
  • Market fragmentation
  • Execution quality
  • Evolving regulatory landscape
 

Market Regulation Insight

Today’s regulatory environment requires that clients understand the effects of ongoing changes on market performance relating to:

  • Senate Hearings on US Market Structure
  • Pending regulatory initiatives
  • Transparency across multiple asset classes
  • MiFID II insight
 

High Frequency Trading Expertise

We hire industry-leading experts from both high frequency trading and technology providers to analyze the global markets and work with our partners to educate them on the complex trading environment, including:

  • Co-location
  • Market data
  • Latency analysis
  • Order routing/execution
  • Trends in predatory trading strategies
  • Trading infrastructure

Equities

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Insights

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RBC Capital Markets' global sales coverage is complemented by our effective electronic trading capabilities. With RBC DX, our proprietary multi-asset class trading platform and various multi-dealer systems, we are continuously investing in technology solutions to meet the ever-changing liquidity and trade execution requirements of our clients.

Fixed Income

Rates

As a designated primary dealer in Australia, Canada, the UK and the US, RBC Capital Markets offers clients the ability to trade in a broad range of rates and rate derivative products. The following Rates products are available for execution on RBC DX and the multi-bank platforms: 

Products

Governments

  • Bills
  • Bonds
  • Inflation-Linked
  • Notes
  • Provincials
  • STRIPs

Agencies

  • Bullets
  • Callables
  • Discount Notes
  • MTNs

Derivatives

  • Interest Rate Swaps  
  • Structured Notes

Mortgage-Backed Securities

Multi-bank platforms

  • Bloomberg
  • CanDeal
  • MarketAxess
  • Tradeweb
  • Yieldbroker

Credit

We offer clients competitive pricing in a wide array of credit products – including corporate, financial, ABS, high yield, covered, supranational and agency bonds. Clients can view and trade in the following products and currencies via our proprietary platform, RBC DX, or multi-bank portals:

Products

  • Asset-Backed Securities
  • High Yield
  • Investment Grade
  • Leveraged Loans
  • Local Markets
  • Convertibles
  • Money Markets
  • Distressed

Currencies

  • US Dollar
  • Canadian Dollar
  • Sterling 
  • Euro
  • Australian Dollar 
  • Local Currencies

Multi-bank platforms

  • Bloomberg
  • Bonds.com
  • MarketAxess
  • Tradeweb
  • Neptune
  • B2Scan

Fixed Income

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RBC DX

RBC DX is our award-winning proprietary platform where your trade ideas can be easily managed and executed. With a single login, you can access our fixed income inventories and efficiently make FX, bond, money market and deposit transactions. In addition, you will have entry to RBC Insight – our award-winning research portal – to help you make informed decisions.

Key Features

  • Advanced tools to facilitate efficient execution
  • FX tools that allow you to submit a request for quote for a Spot/Forward, Swap, Multi-Leg Swap or Single Spot Portfolio
  • View historical FX rates in a chart
  • Easily access and search our comprehensive fixed income inventory
  • Rich online experience
  • Real-time pricing
  • Support through the entire lifecycle of a trade

Visit the RBC DX Portal
to learn more

Our global sales coverage is complemented by strong electronic trading capabilities. As evidenced by RBC DX, our proprietary trading platform as well as various multi-dealer platforms, we are continuously investing in technology solutions to meet the liquidity needs and trade execution requirements of our clients.

Foreign Exchange

RBC Capital Markets provides liquidity across 30 major and emerging markets currencies. Foreign exchange products are available for execution on RBC DX or RBC API, as well as on multi-bank platforms across global FX markets including Spots, Forwards, Swaps, FX Execution Algos and Options.

FX Execution Strategies

RBC Capital Markets’ algorithmic trading suite uses consolidated market liquidity and smart order routing combined with a simple and easy-to-use set of orders to meet client’s FX execution needs.

FX Execution Strategies

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Distribution Channels

  • 360T
  • Bloomberg
  • Currenex
  • EBS
  • FlexTrade
  • FXall
  • FX Connect
  • Integral
  • PortWare
  • RBC API
  • RBC DX
  • Smart Trade
  • Thomson Reuters (RTFX)
  • Trading Screen

Foreign Exchange

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RBC DX

RBC DX is our award-winning advanced proprietary trading platform where your trade ideas can be easily executed. With a single login, you can access our fixed income inventories and efficiently execute FX, bond, money market and deposit transactions. In addition, you will have entry to RBC Insight – our comprehensive research portal – to help you make informed decisions.

Key Features

  • Advanced tools to facilitate efficient execution
  • FX tools that allow you to submit a request for quote for a Spot/Forward, Swap, Multi-Leg Swap or Single Spot Portfolio
  • View historical FX rates in a chart
  • Easily access and search our comprehensive fixed income inventory
  • Rich online experience
  • Real-time pricing
  • Support through the entire lifecycle of a trade

Visit the RBC DX Portal
to learn more

Futures Algorithmic Trading

Our Futures Algorithmic Trading Platform offers innovative low latency strategies, combined with high-touch trading desk, to help clients achieve execution objectives.

Key Differentiators

Thoughtfully Designed

Built from scratch for Futures instead of replicated from Equity algos

Tailored Strategies

Tailored towards client execution objectives and applies Custom Order-Placement Model

Custom TCA

Detailed order level and aggregate transaction cost analytics to understand and optimize execution behaviour

Dedicated Customer Service

Desk intelligence supports Execution Algos

Strategies that Support Futures Trading

  • Implementation Shortfall (IS)
    Proactive, price opportunistic strategy that leverages alpha signals and order book dynamics to gain passive fills and minimize market impact. Quantitatively optimized schedule to balance market impact and opportunity cost
  • VWAP
    Looks to achieve the Volume Weighted Average Price (VWAP) by using custom volume profiles coupled with real-time microstructure indicators to drive efficient execution behavior
  • TWAP
    Looks to achieve the Time Weighted Average Price (TWAP) over user defined time period while utilizing intelligent order placement to minimize information leakage
  • POV
    Track intra-day volume to trade in-line with market volume with intelligent discretion around trajectory to provide room to work passively and opportunistically get ahead

Markets Access

  • CBOT
  • MTL
  • CME
  • NYMEX
  • COMEX
  • ICE US

Products Supported

  • Commodities
  • Rates
  • Currencies
  • STIR
  • Energy
  • Equity Index

EMS Vendors Access

  • Aladdin
  • InfoReach
  • Realtick
  • Bloomberg EMSX
  • Neovest
  • Silexx
  • Fidessa
  • Portware
  • FlexTrade
  • REDI

Futures Algorithmic Trading

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Futures Execution Strategies

Algorithms

We offer a comprehensive product suite for Futures execution algorithms. Our streamlined algorithmic trading suite is proximity hosted next to key Futures Exchanges and utilizes low latency market data, customized liquidity profiles, and sophisticated order routing with a simple, safe, and easy to use set of orders to help you achieve best execution.

Synthetic Order Types

RBC Capital Markets’ Futures group provides innovative global execution and clearing solutions for futures and options to financial institutions, corporations, hedge funds, asset managers, and high net worth individuals around the world. These synthetic order types help the trader efficiently achieve best execution through a simple set of parameters.

Futures Execution Strategies

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Our Team

Toronto

Kevin Straine

Head US Futures Execution

+1.212.437.2499

Electronic Connectivity

Marvin Zamora

Head Electronic Connectivity Futures

+1.312.559.2049

24-Hour Electronic Support

+1.866.901.7719

Futures24@rbc.com

Our Offices

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