RBC Capital Markets receives Canadian patent
approval for its THOR® smart order router technology
TORONTO, Oct. 27, 2016 /CNW/ - THOR® technology, a
smart order router that significantly enhances investors' ability
to access liquidity in the market and receive the best prices and
execution, has been granted a patent in Canada by the Canadian Intellectual Property
Office. THOR® was developed in-house by RBC Capital Markets, the
corporate and investment banking division of Royal Bank of
Canada.
"THOR® is a prime example of how RBC is developing and
integrating innovative solutions and technological advancements to
meet the needs of our clients," said Greg Mills, head of
global equities at RBC Capital Markets. "In 2010, RBC was the first
investment bank to introduce proprietary smart order router
technology to combat latency arbitrage, a predatory high frequency
trading strategy which erodes market integrity. Since then, THOR®
has played an important role in leveling the playing field for both
retail and institutional investors."
THOR® technology enables synchronized routing of split order
segments to multiple exchanges without loss of fill rates, limiting
the advantage that latency arbitrage users have over other market
participants. Unlike conventional order routing technologies that
send orders to multiple trading venues simultaneously and rely on
speed of transmission, RBC's THOR® routing logic determines when
orders should be sent to multiple exchanges so that they arrive
simultaneously.
Through the use of THOR® and the underlying RBC patented
technology, virtually all investor orders are filled on a regular
basis.
"Innovation is central to how we adapt as a business to provide
our clients with an exceptional experience," Mills added. "RBC
continues to take an active role in the development of further
electronic trading innovations to ensure fair and efficient markets
for all participants."
RBC's THOR® technology was launched in the U.S. in 2010 and soon
after that in Canada and
Europe. Aspects of the THOR®
system have been granted patent protection until as long as 2029 in
the U.S., Canada, Australia, China, Japan,
Mexico, Singapore, and South
Africa, with patent protection pending in other
jurisdictions, including: Europe,
South Korea, India, and Brazil.
RBC continues to protect its investments in
innovation and technology through the development
and maintenance of its patent and
trademark portfolio.
Innovation at RBC
Innovation is core to our thinking
at RBC. We're not only building a digitally-enabled relationship
bank, we're changing how we work, collaborating with a diverse set
of partners to explore new technology, and we're investing in the
wider Canadian digital ecosystem to drive the future prosperity and
economic success of the country. Here are a few of the ways we're
innovating:
- We launched an industry-leading mobile wallet in 2015, and
introduced our new mobile banking app in 2016. In RBC Personal
& Commercial Banking, 60 per cent of all financial
transactions, excluding cash withdrawals, are through digital and
mobile channels.
- In September 2016, RBC became a
member of the Global Payments Steering Group, the first interbank
group for global payments based on blockchain technology.
- In 2015, RBC introduced the first fully cloud-based payment
solution by a North American financial institution, using Host Card
Emulation.
- We have built innovation labs in Toronto, London, Luxembourg, New
York, Orlando, and
San Francisco.
- We're working with leading universities to partner with the
best, brightest and boldest minds that we can find. This includes
building a $3 million start-up
accelerator at the University of
Toronto for student and graduate entrepreneurs to develop
commercial ideas.
About RBC Capital Markets
RBC Capital Markets is a
premier global investment bank providing expertise in banking,
finance and capital markets to corporations, institutional
investors, asset managers and governments around the world. We
serve clients from 70 offices in 15 countries across North America, the UK, Europe and the Asia-Pacific region. Our more than 7,400
professionals deliver the experience and insights required to raise
capital, access markets, mitigate risk and acquire or dispose of
assets for clients worldwide. We are consistently ranked, by
third-party sources, among the 10 largest and most significant
investment banks globally. For more information, please visit
www.rbccm.com.
SOURCE RBC Capital Markets