2013 Greenwich Leaders: Canadian Fixed Income

(Awards White Paper, 2 Pages)

Canada’s Big Six dealers increased their aggregate share of institutional fixed-income trading volume to about 62%, from approximately 51% the year before.

27 August 2013

Executive Summary

Over the past 12 months, Canada’s Big Six dealers increased their aggregate share of institutional fixed-income trading volume to about 62%, from approximately 51% the year before. Those gains did not occur at the expense of other Canadian dealers, however.

The combined market share of Desjardins Securities and Laurentian Bank was roughly stable from year to year as they continued building out their presence across Canada.  Rather, the big domestic firms captured market share from foreign rivals who were cutting back on commitments to the Canadian market in the face of new capital reserve requirements.

Methodology
Between February and March 2013, Greenwich Associates conducted in-person interviews with 149 institutional fixed-income investors in Canada. Interview topics included service provider assessments, market trend analysis, and investor compensation.