RBC throws in towel on prop trading

[Grandluxe]

By ROB COPELAND CONNECT
Updated April 15, 2014 9:16 p.m. ET
RBC to Close Proprietary-Trading Desk

Royal Bank of Canada is planning to close one of the last proprietary-trading desks on Wall Street, another win for regulators that have pushed banks to cut back on making big bets with their own money, the WSJ reports.

http://online.wsj.com/news/articles/SB10001424052702303887804579503770900905940

 

[TrendPlayer]

By ROB COPELAND CONNECT
Updated April 15, 2014 9:16 p.m. ET
RBC to Close Proprietary-Trading Desk

Royal Bank of Canada is planning to close one of the last proprietary-trading desks on Wall Street, another win for regulators that have pushed banks to cut back on making big bets with their own money, the WSJ reports.

http://online.wsj.com/news/articles/SB10001424052702303887804579503770900905940

What was the firm called?

 

[sle]

What was the firm called?

Royal Bank of Canada (RBC). They were doing a fair bit of fixed income relative value and equity volatility arbitrage, very smart guys. Pretty sure they will lend elsewhere or will be able to raise some capital, just like many former bank prop desks.