Royal Bank of Canada announced Monday that RBC Capital Markets has acquired full ownership of Commission Direct Inc., a provider of independent commission-compensated services for institutional investors.
Previously, RBC had a 50% stake in the Toronto firm, which was founded in 1992. The price of the deal was not disclosed.
Independent commission-compensated investment services brokerage companies such as Commission Direct facilitate the payment of qualified independent research and brokerage obligations, commission sharing arrangements, commission recapture, transition restructures and discount trading.
RBC Capital Markets is Royal Bank of Canada's corporate and investment banking arm. Royal Bank of Canada serves more than 18 million clients through offices in Canada, the United States and 52 other countries.