RBC Capital Markets is a General Clearing member and market maker on exchanges around the world, trading on such exchanges as the European Climate Exchange (ECX), the Montreal Climate Exchange (MCeX), the Chicago Climate Exchange (CCX), the NYMEX Green Exchange and soon under the Regional Greenhouse Gas Initiative in the Northeastern United States. The firm’s new emissions trading group also provides access to over-the-counter (OTC) markets by acting as counterparty, and accommodates spot and forwards, as well as various OTC structures.

RBC Capital Markets is also a significant player in the Canadian GHG emissions trading market. The firm says it has the infrastructure to be able to grow quickly as U.S. and global demand increases.

In addition, RBC’s Futures and Base Metals Group of Global Prime Services provides execution, clearing and custody of EU Allowances (EUAs) and Certified Emission Reductions (CERs) certificates for markets in North America and Europe.

“Our clients are looking for a firm that can offer an international solution for our clients to a global problem,” says Mike MacBain, head of global debt markets, RBC Capital Markets. “We are a market making provider, taking principal risk, providing pricing liquidity and facilitating hedging for clients. We’re building a global book for these markets and becoming a one-stop shop for our clients’ GHG emissions trading needs.”

RBC Capital Markets’ emissions trading group, under the leadership of industry veterans Frank Riley and Kevin Paley, operates trading desks in Toronto and London and executes trades on markets in the U.S., Canada and Europe.