Company Overview of RBC Capital Markets LLC
RBC Capital Markets LLC offers corporate and investment banking services to corporations, governments, and institutions. The firm’s services include public and private placement of debt and equity securities, strategic alliances, mergers and acquisitions advice, corporate finance, equity and debt underwriting, and structured and project finance. It also offers corporate credit, real estate advisory services, syndicated loans, equity research, sales and trading, risk management, asset securitization, fixed income, money market, and foreign exchange services. The company was founded in 1909 and is based in Toronto, Canada with additional offices in Spain, Netherlands, Israel, Hong Kong, Singap...
Royal Bank Plaza
200 Bay Street
Toronto, ON M5J 2W7
Founded in 1909
Key Executives for RBC Capital Markets LLC
Chairman and Co-Chief Executive Officer
Head of Commodities and Electronic Trading
Compensation as of Fiscal Year 2015.
RBC Capital Markets LLC Key Developments
Scott+Scott Files New Class Action Complaint in Foreign Exchange Lawsuit
Aug 1 15
Scott+Scott, Attorneys at Law, LLP announced that it has filed a Second Consolidated Amended Class Action Complaint on behalf a proposed class in In re Foreign Exchange Benchmark Rates Antitrust Litigation, Case No. 1:13-cv-7789 (S.D.N.Y.). When the original complaint was filed in November of 2013, plaintiffs alleged that since 2003, financial institutions had conspired to manipulate the WM/Reuters Closing Spot Rates in the $5.4 trillion-per-day foreign exchange market. As a result of cooperation obtained from certain settling defendants, the complaint now alleges a broader conspiracy - one that affected dozens of currency pairs, including the seven pairs with the highest market volume, and impacted trading both over the counter and on exchanges. More specifically, the complaint alleges that from as early as 2003 and continuing through 2013, the world's major banks used multiple chat rooms - with names such as 'The Cartel', 'The Bandits' Club', and 'The Mafia' - to communicate with each other. As the complaint explains, being a member of certain chat rooms was by invitation only, indicating the secret nature of this conduct. These electronic chat rooms replaced the classic, smoke-filled backrooms of the past. In these chat rooms, defendants used code words to avoid detection. The plaintiffs allege that defendants manipulated the FX market in at least three separate respects. First, defendants fixed prices by agreeing to widen bid/ask spreads on FX spot trades. Bid/ask spreads represent the difference between the price at which a bank will buy a currency and the price at which it will sell it, and are a source of profit for banks. Second, plaintiffs allege that defendants manipulated FX benchmark rates, including the WM/Reuters Closing Spot Rates and European Central Bank's FX Reference Rates, as well as CME/Emerging Markets Traders Association Russian ruble/U.S. dollar rates. Finally, defendants exchanged key confidential customer information in an effort to trigger client stop loss and limit orders. They exploited these types of orders by manipulating prices to move the market to levels that triggered the stop-loss or limit orders. In addition to adding broader allegations of unlawful behavior, the Complaint accuses four defendants that were not previously named. Bank of Tokyo-Mitsubishi UFJ Ltd., RBC Capital Markets, LLC, Société Générale S.A., and Standard Chartered plc, have been added to the list of banks that the Complaint alleges conspired to manipulate the FX market, bringing the total number of defendants to sixteen.
Riocan Real Estate Investment Explores Strategic Alternatives For Us Operations
Jul 31 15
Riocan Real Estate Investment Trust (TSX:REI.UN) will undertake a strategic review and explore various strategic alternatives regarding its U.S. operations. To assist with this strategic review, RioCan has engaged Morgan Stanley (NYSE:MS) and RBC Capital Markets LLC. RioCan has received approval from its Board of Trustees to explore various strategic alternatives regarding its U.S. operations. These strategic alternatives will include, but are not limited to, continuing to operate and invest in the U.S. portfolio, the sale of some or all of its properties in the U.S., and other strategic joint venture alternatives. RioCan is in the early stages of its review and there can be no assurance that any transaction will occur.
Prospect Capital Prices Senior Notes Offerings
Jul 28 15
Prospect Capital Corp. on July 27 filed a preliminary pricing supplement related to offerings of undisclosed amounts of its 4.750% senior notes due Aug. 15, 2020, and 5.250% senior notes due Feb. 15, 2022. The trade date for the notes is Aug. 3, and the settlement date is Aug. 6. Interest on the notes will accrue starting Aug. 6 and will be paid Aug. 15 and Feb. 15 of each year, starting Feb. 15, 2016. The company on July 27 also filed a pricing supplement related to offerings of about $1.6 million of its 4.750% senior notes due July 15, 2020, and about $953,000 of its 5.250% senior notes due Jan. 15, 2022. The trade date for the notes is July 27, and the settlement date is July 30. Interest on the notes will accrue starting July 30 and will be paid July 15 and Jan. 15 of each year, starting Jan. 15, 2016. Prospect Capital expects to use the net proceeds from the sales of the notes initially to maintain balance sheet liquidity, involving repayment of debt under its credit facility, if any, and redemption of outstanding notes; investments in high-quality, short-term debt instruments or a combination thereof; and thereafter to make long-term investments.
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