RBC Clearing & Custody

RBC Clearing & Custody provides clearing, custody and execution services to broker-dealers and registered investment advisers in the US. It operates as a division within RBC Capital Markets, LLC, which belongs to Royal Bank of Canada, and says it has offered clearing and custody since 1979.

Retail and insurance-affiliated broker-dealers get a full platform with investments, securities-based credit lines, cash management, research and account-opening tools. Institutional broker-dealers get clearing for US and international equities and fixed income and US options, trade matching linked to DTCC's ALERT and CTM databases, real-time settlement tracking and help with reporting rules such as Reg BI, CAT and TRACE. For established and breakaway RIAs, the firm handles custody, asset transitions, middle-office support, connections to outside money managers, trust services through third parties, a client portal and mobile app, and model management and trading, with the option to use outside portfolio platforms. Firms that run an RIA and a broker-dealer side by side can be served on both.

Advisors work through RBC Nexus, a portal that pulls together client data, firm-level data and service tools. RBC BLACK bundles third-party advisor software on one platform at one price, and RBC Marketplace lists offerings from the firm and more than 100 outside vendors, some at discounted rates. Supported outside systems include Orion, Tamarac, SS&C and VestmarkONE.