Tuesday, July 31, 2018 Stamford, CT USA — RBC Capital Markets and TD Securities are deadlocked atop a newly competitive Canadian fixed-income market. 

For years, Canada’s fixed-income dealers have pursued RBC, which has maintained a dominant position as the country’s No. 1 dealer. Over the past year, TD Securities has closed the gap, and the two firms are now tied for first place on the list of 2018 Greenwich Share Leaders in Overall Canadian Fixed Income. 

“These top two dealers have captured share from the rest of the market and extended their lead over competitors over the past 12 months,” says Greenwich Associates consultant Peter Kane.

To be sure, RBC Capital Markets ranks at or near the very top of the market in nearly every fixed-income product category, and continues to dominate in the critical business of interest-rate derivatives trading. RBC Capital Markets also tops the market in research, claiming the title of 2018 Greenwich Quality Leader in Canadian Fixed Income Research—along with BMO Capital Markets. 

TD Securities has leveraged its quality sales effort to build a strong presence in investment-grade credit, and over the past year, has stepped up its performance in rates products to claim the title of 2018 Greenwich Quality Leader in Canadian Fixed-Income Sales. 

“TD Securities has focused intently on providing excellent service quality to Canada’s biggest institutional fixed-income clients, and that effort has really paid off in the past year,” says Peter Kane. 

Also achieving notable performance gains last year is Desjardins, which leads all rivals in market share in Canadian government bond trading and has expanded its presence in Canadian Mortgage Bonds. 

Click here for the Greenwich Report and list of 2018 Quality Leaders in Canadian Fixed Income.