Fed Names RBC Capital Markets As Primary Dealer

Published: 08-Jul-2009

To underwrite the government’s debt

RBC Capital Markets, the New York-based Corporate and Investment Banking arm of Royal Bank of Canada, has been designated as a primary dealer by the Federal Reserve Bank of New York.

Primary dealers are banks and securities broker dealers that are bidders in US treasury auctions and trade in US Government securities, and select other securities with the Federal Reserve Bank of New York.

Mark Standish, President and co-CEO of RBC Capital Markets, said: “This is a logical extension of our global rates franchise, where we are already making markets as the equivalent of a primary dealer in both the UK and Canada.”

RBC Capital Markets is active in debt origination, sales and trading, foreign exchange, infrastructure finance, structured products, metals and mining, and energy.

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