RBC Joins Goldman Sachs in Supporting New Stock Market
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Royal Bank of Canada joined Goldman Sachs Group Inc. in voicing support for IEX Group Inc.’s five-month-old U.S. stock market, which was designed to mitigate the influence of computerized high-speed traders.
The bank’s RBC Capital Markets unit executed the first trade on IEX in October, according to an internal memo from RBC’s head of global equities, Greg Mills, and the U.S. equities chief, Bobby Grubert. Royal Bank also supported the market’s development while its founders were still employed at the bank, according to the document.