RBC Capital Markets becomes primary dealer
NEW YORK, July 7, 2009 — RBC Capital Markets
today announced that it has been designated a primary dealer
by the Federal Reserve Bank of New York, effective tomorrow,
July 8, 2009.
"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," said Mark
Standish, president and co-CEO of RBC Capital Markets.
Primary dealers are banks and securities broker dealers that
are bidders in U.S. treasury auctions and trade in U.S. Government
securities and select other securities with the Federal Reserve
Bank of New York.
"RBC has been aggressively growing its fixed income
franchise in the United States, so becoming a primary dealer
is a natural next step for us," said Jonathan Hunter,
RBC Capital Markets' co-head, Fixed Income & Currencies.
Based in New York, RBC's U.S. Government bond trading business
is headed by managing director Thomas Tucci, a two-decade
veteran of the bond industry. Darren Lowe is RBC's head of
rates and MBS sales.
About RBC 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
platform includes a significant U.S. investment banking franchise
and leading equity, underwriting, sales, trading and research
businesses. In the U.S., RBC Capital Markets conducts it primary
dealer activities and offers securities and investment banking
services through its U.S. registered broker-dealer, RBC Capital
Markets Corporation. Mark Standish is chairman, Jonathan Hunter
is head of Fixed Income & Currencies, Thomas Tucci is
managing director, Fixed Income Rates Trading, and Darren
Lowe is managing director, Rates and Mortgage-Backed Securities
Sales, of RBC Capital Markets Corporation.
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