"This is good business for Royal Bank of Canada (RY)," says fund manager Som Seif. "I don’t want to overplay the Canadian perspective, that Canadians want to save the world. If they’re identified as a player that cares, it will build business.”
The culture of "RBC nice" is paying dividends for the bank amid the boosted hubbub over high-frequency trading. Depicted as an outsider fighting Wall Street in Michael Lewis' book, RBC is seeing boosted electronic trading numbers, more requests for meetings, and more people asking for assistance in dealing with HFT.
RBC supported Brad Katsuyama for years before he left to found anti-HFT trading hub IEX (RBC placed the first order after it started up), and, along with seven partners, helped found Aequitas, a market with similar goals to IEX.