RBC Capital Markets has completed its acquisition of New York-based Carlin Financial Group, a broker-dealer known for its proprietary trade execution platform. With the acquisition, RBC will average 3.5 billion shares in monthly trading volume, ranking it in the top 10 in the US.
The new division, renamed RBC Carlin, also launched its customisable options trading module, Options Pro.
Options Pro, part of a suite of solutions that RBC Carlin is offering to clients under its new RBC Accel system, represents the first in a series of scheduled module releases and feature enhancements to the system, with proprietary algorithms soon to follow.
“RBC Capital Markets has been very aggressive in building a complete product and service platform to better serve our clients,” says Greg Mills, the head of global equity sales and trading at RBC Capital Markets. “The creation of the RBC Carlin business division, with its advanced technology platform, is a clear illustration of our commitment to delivering a full suite of products to our clients.”
“The future of DMA lies in the ability to respond to and anticipate traders’ growing needs to execute orders across multiple asset classes and hybrid instruments,” adds Jeremy Frommer, a president of RBC Carlin. “With the completion of the merger, we are now able to offer a wide array of clients a trading platform that is truly one of the best in class.”