Thursday, June 29, 2017 Stamford, CT USA — For the second consecutive year, RBC Capital Markets is widening its lead over the competition in the Canadian Equity brokerage business.

RBC heads up the list of the Greenwich Associates 2017 Share and Quality Leaders in Canadian Equities, topping all rivals by a wide and expanding margin in market share in both trading and research/advisory services. 

“RBC Capital Markets and BMO Capital Markets both increased their market share in trading last year, but RBC’s gains again outpaced all other brokers,” says Greenwich Associates Managing Director Jay Bennett. “Both firms also grew their market or “vote” share in Research and Advisory Services, where BMO’s gains have carried the bank to a tie for second place.”

In trading, BMO Capital Markets retains its number-two position behind RBC Capital Markets, followed by Scotiabank, CIBC and TD Securities. On the list of 2017 Greenwich Share Leaders in Canadian Equity Research/Advisory Services, BMO Capital Markets is statistically deadlocked with Scotiabank for the second spot behind RBC, which extended its lead over all competitors last year. TD Securities is next, followed by CIBC. 

ITG leads the market in penetration in Canadian Equity Electronic Trading, followed by RBC Capital Markets, Liquidnet, Scotiabank and Credit Suisse. 

2017 Greenwich Quality Leaders

RBC Capital Markets is the 2017 Greenwich Quality Leader in Canadian Equity Sales Trading & Execution Service. In Canadian Equity Research Product & Analyst Service, the 2017 Greenwich Leaders are RBC Capital Markets and Scotiabank.

The 2017 Greenwich Quality Leaders in Canadian Equity Sales & Corporate Access Quality are BMO Capital Markets and RBC Capital Markets. In Canadian Equity Electronic Trading, the 2017 Quality Leaders are ITG and RBC.

Trading Commissions Hold Firm

The pool of total cash equity commissions earned by brokers on trades of Canadian equities increased approximately 2% last year to an estimated $685 million. “Although that increase seems modest, it represents a strong outcome for brokers relative to results for brokers in the United States, where broker commissions on trades of U.S. equities fell 11-12% last year and have dropped some 27% since 2011,” says Jay Bennett.