US Municipal Markets

RBC Capital Markets is a Top-5 underwriter of negotiated municipal bonds. We provide complete coverage for a wide spectrum of institutional and retail investors in the US municipal fixed income market.

Why Choose RBC Capital Markets?

  • Consistently providing municipal products and services for over 75 years
  • More than 70 fixed-income institutional sales professionals covering investors, including approximately 30 dedicated municipal salespeople
  • Over 30 municipal traders and underwriters

Municipal Underwriting

We are the most active underwriter of municipal bonds in terms of total number of senior managed issues, underwriting hundreds of transactions annually. We maintain two fundamental advantages:

  • Strong and enduring relationships with Tier I clients, as well as Tier II and III institutional accounts
  • Significant capital to underwrite unsold balances in the primary market and to create and maintain an active secondary market

Electronic Trading Capabilities

RBC Elevate™ is a municipal-specific electronic trading platform, offering clients innovative solutions with PowerPlay™ (electronic customer offerings program) and MuniBots™ (customizable algorithmic trading). Additionally, we have been advancing broader market-structure initiatives as demonstrated through our partnership with MuniAxis (third-party ATS) as their sponsoring broker/dealer.

Retail Capabilities

Through our retail channel, RBC Wealth Management, individual investors can buy and sell municipal bonds. RBC Wealth Management is ranked as the 6th largest bond distribution network in North America, with a comprehensive retail sales force to serve clients.

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Finance and Derivative Solutions

We offer various plain vanilla and structured financing tools in the US municipal market. In addition, RBC is one of the strongest counterparties for both derivatives and financing transactions. While many dealers have reduced resources committed to this market, RBC has expanded its offering and capabilities.

  • RBC ratings profile provides a competitive advantage in funding solutions for our clients (TOB, TRS, Repo, Closed-End Funds Leverage)
  • One of a limited number of firms providing credit enhanced financing

Municipal Markets Team

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