Equities

With a strong global footprint, our Electronic Trading team provides innovative solutions that empower clients to navigate market challenges. Our client-centric experts and comprehensive proprietary algorithmic suite work in tandem to aim to deliver industry-leading execution, trading, and market structure information through relentless innovation.

Technology

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.

Technology

CORE CONTROLLER (CC)

We have a modular multi-asset execution framework - core controller - a self-contained end-to-end trading unit between client orders and our smart order router THOR. CC leverages cutting edge design to improve the capabilities of our algorithms and platform as a whole.

RBC algo suite

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

DMA

Utilizes THOR routing technology; manages display size using RBC’s proprietary posting logic.

RBC NOW

Aggressively seeks liquidity while managing market impact.

RBC Eclipse

Uses stock-specific triggers to opportunistically source liquidity.

Implementation Shortfall

Follows a front-loaded schedule quantitatively optimized to balance market impact and opportunity cost.

RBC Closer

Attempts to achieve the Closing price while managing market impact.

POV

Tracks volume at a specific participation rate.

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 which actively sources liquidity at carefully selected dark venues.

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
• ATS optimization
• Market fragmentation
• Execution quality
Market Regulation Insight Today’s regulatory environment requires that clients understand the effects of ongoing changes on market performance relating to:
• Pending and future regulatory initiatives
• Transparency across multiple asset classes
• Impact of regulation on new technologies, like AI and blockchain
GLOBAL, MULTI-ASSET EXPERTISE Our industry-leading experts analyze global markets trends across many asset classes and educate clients on topics including:
• Jurisdictions across the globe, including Canada, Europe, and Australia
• Wide coverage of asset classes including equities, rates, and FX
• Specific expertise in Exchange-Traded Products (ETPs) and program trading

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