The Bank of New York has been selected by the Royal Bank of Canada (Suisse) — a member of Royal Bank of Canada’s Global Private Banking network — to provide U.S. equity trading services.
The Bank of New York will provide Royal Bank of Canada (Suisse) with seamless trading across the complete lifecycle of a U.S equity trade, from order capture to execution in the market, affirmation/confirmation, foreign exchange, clearing, settlement and reporting.
“This product combines the power of Pershing’s execution and clearing capabilities with the world class custody capabilities of The Bank of New York,” said Andrew Bell, executive vice president and head of Europe Global Investor Services at The Bank of New York. “The appointment is testament to our scale and expertise in being able to provide a solution to our clients via a cost effective trading and settlement service. This not only maximizes a customer’s productivity and profitability, but also reduces their operational risk.”