RBC Capital Markets completes acquisition of Carlin Financial
Renamed RBC Carlin, new unit introduces additional modules,
including Options Pro, to its DMA platform
NEW YORK, January 3, 2007 — RBC Capital Markets announced
today that it has completed its acquisition of New York-based
Carlin Financial Group, a broker-dealer known for its proprietary
trade execution platform that is extremely popular with emerging
hedge fund managers, professional traders and financial institutions.
With the acquisition, RBC will average 3.5 billion shares
in monthly trading volume, ranking it in the top 10 in the
The new division, renamed RBC Carlin, also announced today
the launch of its state of the art, customizable options trading
module, Options Pro, thus entering the field of top tier multi-asset
DMA (direct market access) trading platforms.
Options Pro, part of a suite of solutions that RBC Carlin
is offering to clients under its new RBC Accel system, represents
the first in a series of scheduled module releases and feature
enhancements to the system, with proprietary algorithms soon
to follow. As a result of the merger, the firm also expects
to gain further access to the Canadian market, strengthening
its position as one of the premier North American front end
"RBC Capital Markets has been very aggressive in building
a complete product and service platform to better serve our
clients," said Greg Mills, RBC Capital Markets' head
of global equity sales and trading. "The creation of
the RBC Carlin business division, with its advanced technology
platform, is a clear illustration of our commitment to delivering
a full suite of products to our clients."
RBC Accel is a comprehensive portfolio trading system that
features highly sophisticated solutions, including automated
risk management. Trading more than 30 million shares daily,
RBC Accel is among the industry's fastest execution platforms.
"The future of DMA lies in the ability to respond to
and anticipate traders' growing needs to execute orders across
multiple asset classes and hybrid instruments," said
Jeremy Frommer, president of RBC Carlin. "With the completion
of the merger, we are now able to offer a wide array of clients
a trading platform that is truly one of the best in class."
RBC Capital Markets' acquisition of Carlin Financial Group
is the latest in a series of deals completed by the firm as
it continues to build its presence in the United States and
globally. In terms of assets as of October 31, RBC is the
sixth-largest bank in North America.
About RBC Carlin
RBC Carlin is a newly formed division resulting from the acquisition
of Carlin Financial Group by RBC Capital Markets, a member
of the NYSE and NASD. Serving institutions, emerging managers,
and sophisticated traders, RBC Carlin provides a full suite
of scalable financial products, services and cutting trading
edge technology. For more information, please visit www.rbccarlin.com.
About RBC Capital Markets
RBC Capital Markets is the corporate and investment banking
arm of RBC and is active globally in debt origination, sales
and trading, foreign exchange, infrastructure finance, structured
products, metals and mining, and energy. Its North American
equity underwriting, sales, trading and research business
dominates the Canadian market and supports a significant and
growing franchise in the US middle market.
- 30 -
For more information, please contact:
Sharon Solomon, RBC Carlin, 212-905-5700,
Kevin Foster, RBC Capital Markets, 212-428-6902,
Katherine Gay, RBC Capital Markets, 416-974-6286,
Beja Rodeck, RBC, 416-974-5506,