Monday, August 29, 2016 Stamford, CT USA — RBC Capital Markets fought off fierce competition from rivals last year to maintain its position as the top dealer in Canadian fixed income. 

RBC Capital Markets leads all dealers in terms of market share and heads up the list of 2016 Greenwich Share Leaders across all Canadian fixed-income products. Over the past 12 months, the firm has defended this title in the face of mounting competition from BMO Capital Markets and TD Securities, which tie for second in market share, with the statistically deadlocked trio of Scotiabank, National Bank Financial and Desjardins Securities rounding out the roster of Greenwich Share Leaders.

Alongside BMO Capital Markets, RBC Capital Markets is also a 2016 Greenwich Quality Leader. RBC and BMO claim the honors of 2016 Greenwich Quality Leader in Overall Fixed Income, Sales and Research. In Fixed-Income Trading, RBC and BMO share the title of 2016 Quality Leader with TD Securities.

“Both BMO Capital Markets and TD Securities are upping their games, but for the past year RBC Capital Markets has met the challenge by maintaining its already industry-leading quality levels and defending its sizable lead in market share and share of client wallet,” says Greenwich Associates consultant Peter Kane and author of The Canadian Banks Gain Market Share from Foreign Competitors. 

Foreign Banks Cede Market Share
The results of the annual Greenwich Associates 2016 study show gains in market share last year for most of the Big Five Canadian banks.  This raises the question: Who is losing that market share? 

The answer: Foreign competitors. “Non-Canadian banks have stepped back from the market, and focused on core clients,” says Peter Kane. “The shift that comes from time to time could be more enduring this time around, since the pull-back from Canada is in part of a global effort to cut costs under the post-crisis regulatory regimes in the United States and Europe.”