Amid a sharp slowdown in institutional trading activity, RBC Capital Markets has maintained its position as the leading broker in Canadian equity trading. According to the results of Greenwich Associates 2013 Canadian Equity Investors Study, RBC Capital Markets captured a trading share of 14.1% of institutional trading volume last year. BMO Capital Markets and TD Securities tied for second place with trading shares of 11.3–11.7%, followed by Scotiabank at 9.4% and CIBC at 8.9%. These brokers are the 2013 Greenwich Share Leaders in Canadian Equity Trading.
 
RBC Capital Markets also takes the top spot in Canadian equity research and trading by capturing 16.7% of the institutional research vote—the process by which institutions determine which sell-side providers of research and advisory services will be used and compensated. BMO Capital Markets is second in those terms with a vote share of 13.1%, followed by CIBC and TD Securities, which are tied with vote shares of 11.6% and 11.0% respectively, and Scotiabank at 9.4%.
 
“With the slowdown in trading activity in Canadian equities causing a 10% contraction in the amount of brokerage commissions paid by intuitions, those leading Canadian firms find themselves in the same situation faced by U.S. brokers for the past several years: fighting for market share as a means of maintaining trading revenues,” says Greenwich Associates consultant Jay Bennett.
 
Greenwich Quality Leaders
BMO Capital Markets and RBC Capital Markets are the 2013 Greenwich Quality Leaders in Canadian Equity Trading. Greenwich Quality leaders are firms that receive client quality ratings that top those awarded to competitors by a statistically significant margin. Among portfolio managers, RBC Capital Markets is the 2013 Greenwich Quality Leader in Canadian Equity Research and Analyst Service. The 2013 Greenwich Quality Leaders in Canadian Equity Sales are BMO Capital Markets and RBC Capital Markets.  
 
View the complete list of 2013 Greenwich Share and Quality Leaders in Canadian Equities.