RBC Capital Markets becomes Category 2 member of London Metal Exchange
LONDON, June 30, 2006 — RBC Capital Markets, the corporate and investment banking arm of RBC Financial Group, today announced that it has become a Category 2 - Associate Broker Clearing Member (ABCM) of the London Metal Exchange (LME). The London Metal Exchange is the world’s premier non-ferrous metals market.
“This is an important step in the development of our base metals business and our futures trading and clearing franchise,” said Harry Samuel, head of Global Treasury Services at RBC. “It will enable us to access liquidity on behalf of our clients and provide very competitive pricing. We are delighted with the news.”
The move follows the appointment in February of a new base metals team in London, headed by Alex Heath. The team benefits from over 60 years’ combined experience in metals trading and broking in OTC derivatives and futures covering all aspects of the industry. The team will design hedging strategies for commercial clients who wish to absorb price risk and help identify trading opportunities for hedge funds and others who incorporate fundamental and technical analysis into their investment decisions.
RBC Financial Group
Royal Bank of Canada (TSX, NYSE: RY) uses the initials RBC as a prefix for its businesses and operating subsidiaries, which operate under the master brand name of RBC Financial Group. Royal Bank of Canada is Canada’s largest bank as measured by market capitalization and assets, and is one of North America’s leading diversified financial services companies. It provides personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. The company employs approximately 70,000 full and part time employees who serve more than 14 million personal, business and public sector clients through offices in North America and some 30 countries around the world. For more information, please visit www.rbc.com.
RBC Capital Markets
RBC Capital Markets is the corporate and investment banking arm of RBC Financial Group, the global brand name of Royal Bank of Canada (RY: TSX, NYSE). The firm is Canada’s leading underwriter of debt and equity securities and ranks among the top 10 M&A advisors in North America. It offers institutional clients a global reach in selected products and industry sectors with a strong focus on U.S. mid-market companies. For more information, please visit: www.rbccm.com.
RBC Capital Markets is a business name used by Royal Bank of Canada Europe Limited, 71 Queen Victoria Street, London EC4V 4DE (registered in England 995939), which is regulated by the FSA and a member of the London Stock Exchange.
- Contact Information
- Jane D’Amico
- Media Enquiries
- RBC Capital Markets, London
- Contact via E-mail
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.