NEW YORK (May 23, 2024) — Capital Markets Gateway (CMG), a fintech firm modernizing the equity capital markets, today announced that the Royal Bank of Canada (RBC) has joined its global underwriter network as both an investor and a client. CMG continues to expand this industry-led global initiative, with RBC joining existing partners including Bank of America, Barclays, Citi, Fidelity Investments, Franklin Templeton, Goldman Sachs, JPMorgan Chase, and Morgan Stanley.
As a prominent global capital markets participant, RBC has established a long-standing reputation for facilitating a wide range of financial transactions, including initial public offerings (IPOs), private placements, follow-ons, and convertible offerings. By integrating CMG’s book building technology, the bank will streamline the deal-making process, enabling RBC to capitalize on efficiencies, automation, and improved collaboration throughout the investment process.
“As an early adopter of CMG, I have seen how CMG’s platform has the potential to transform the ECM landscape and drive differentiated outcomes for our clients,” said Joe Passaro, Head of U.S. Syndicate at RBC Capital Markets. “This supports RBC’s commitment to embracing innovation and allows us to continue to usher in a new era of efficiency, effectiveness, and client-centric services.”
“With a shared vision for streamlined ECM workflows, we believe our investment will further innovation in ECM,” said Barrie Laver, Head of RBC Venture Capital. “Facilitating connectivity between the buy-side and sell-side plays a crucial role in enhancing the efficiency of the financial ecosystem, which is why we are pleased to make a commitment as both a capital partner and customer to CMG.”
The undisclosed funding amount will support the expansion of CMG XC™, the first end-to-end platform which connects ECM industry participants and delivers data and analytics, unrivaled transparency, and workflow efficiencies. CMG XC features real-time collaborative sell-side book building capabilities, enhanced via direct connectivity to a network of more than 120 prominent buy-side investors.
“We are thrilled to add RBC to our existing underwriter network comprised of seven of the top 10 U.S. ECM underwriters utilizing our XC ECM platform. This further validates our scalability and mission to modernize the equities marketplace,” said Greg Ingram, CMG CEO. “Through working with CMG, RBC and their clients are gaining a significant advantage.”
To learn more about CMG’s sell-side book building features or to join CMG’s buy-side investor network, contact [email protected].
About Capital Markets Gateway LLC
Capital Markets Gateway (CMG) is a financial technology firm that is modernizing capital markets. CMG connects investors and underwriters via its CMG XC™ platform, which delivers data and analytics, unrivaled transparency, and workflow efficiencies. By connecting the buy-side and sell-side on one neutral platform, CMG XC fosters streamlined communication and workflows from a broad range of participants and offers efficiencies to all parties. Launched in 2017 by a team of experienced ECM practitioners, CMG services are currently relied upon by 16 investment banks and 120 buy-side firms representing $20 trillion in AUM. For more information visit www.cmgx.io.
About RBC
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 94,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
Media Contacts
CJ Lengua
Forefront Communications for CMG
[email protected]
Kaitlin Newingham, RBC
[email protected]
