25 September 2017
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RBC gets Canadian patent for Thor smart order router

27 October 2016  |  8336 views  |  0 Source: RBC

Thor technology, a smart order router that significantly enhances investors' ability to access liquidity in the market and receive the best prices and execution, has been granted a patent in Canada by the Canadian Intellectual Property Office.

THOR® was developed in-house by RBC Capital Markets, the corporate and investment banking division of Royal Bank of Canada .

"THOR® is a prime example of how RBC is developing and integrating innovative solutions and technological advancements to meet the needs of our clients," said Greg Mills, head of global equities at RBC Capital Markets. "In 2010, RBC was the first investment bank to introduce proprietary smart order router technology to combat latency arbitrage, a predatory high frequency trading strategy which erodes market integrity. Since then, THOR® has played an important role in leveling the playing field for both retail and institutional investors."

THOR® technology enables synchronized routing of split order segments to multiple exchanges without loss of fill rates, limiting the advantage that latency arbitrage users have over other market participants. Unlike conventional order routing technologies that send orders to multiple trading venues simultaneously and rely on speed of transmission, RBC's THOR® routing logic determines when orders should be sent to multiple exchanges so that they arrive simultaneously.

Through the use of THOR® and the underlying RBC patented technology, virtually all investor orders are filled on a regular basis.

"Innovation is central to how we adapt as a business to provide our clients with an exceptional experience," Mills added. "RBC continues to take an active role in the development of further electronic trading innovations to ensure fair and efficient markets for all participants."

RBC's THOR® technology was launched in the U.S. in 2010 and soon after that in Canada and Europe . Aspects of the THOR® system have been granted patent protection until as long as 2029 in the U.S., Canada , Australia , China , Japan , Mexico , Singapore , and South Africa , with patent protection pending in other jurisdictions, including: Europe , South Korea , India , and Brazil .

RBC continues to protect its investments in innovation and technology through the development and maintenance of its patent and trademark portfolio.  

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