RBC Clearing and Custody (RBC C&C) and Cowen’s Correspondent Clearing group have signed an agreement to move a subset of Cowen’s clients to the RBC clearing platform, officials say. The Cowen agreement fits in with RBC C&C’s strategy to expand the reach of its clearing platform to broker-dealers with institutional clients, and registered investment advisors… Read More >>
RBC Capital Markets Launches AI-Based Trading Platform
‘Aiden’ Yields Solution to Cut VWAP Slippage Securities traders at RBC Capital Markets and scientists who specialize in artificial intelligence (AI) at vendor Borealis AI have been collaborating to deliver Aiden, an AI-based electronic trading platform that exploits “deep reinforcement learning” to facilitate better trading results and insights for clients, officials say. “In doing so, both… Read More >>
RBC Capital Markets Penalized for False Proxy Allegations
The SEC reports that investment bank RBC Capital Markets, part of the Royal Bank of Canada, will pay a $2.5 million settlement for “causing materially false and misleading disclosures about its valuation analysis in a proxy statement for Rural/Metro Corporation’s sale in 2011 to a private equity firm.” That firm was Warburg Pincus. Rural/Metro, a… Read More >>
Former RBC CCO Joins Oyster Consulting
Financial consulting vendor Oyster Consulting has hired Richard T. Chase as the new managing director of its New York office, officials say. Oyster expects Chase’s hire to “continue Oyster’s expansion as a regulatory and compliance leader, enhancing its ability to help broker-dealers, exchanges and investment advisors respond to increasing SEC and FINRA expectations regarding trading… Read More >>
GFI Moves Into Mexico as RBC Capital Markets Hires from Barclays
GFI Launches Mexican Office GFI Group has launched operations in Mexico after its Mexican affiliate GFI Grupo Mexico, S.A. de C.V. met Mexican regulations, officials say.“We had been servicing our Mexican clients from New York for over 10 years and it is a pleasure for us to be able to service them locally,” says Nick… Read More >>
