Laurentian Bank Securities

What Laurentian Bank Securities does

Laurentian Bank Securities (legal name: Valeurs mobilières Banque Laurentienne inc., VMBL) is a Canadian institutional fixed income broker and investment dealer, founded in 1991 and operating as a wholly-owned subsidiary of Banque Laurentienne du Canada (LB:TSX). VMBL holds primary dealer status with the Bank of Canada for Government of Canada bonds and treasury bills and is ranked among the top 10 fixed income brokers in Canada. The firm serves government, corporate, and institutional clients from offices in Montréal and Toronto.

VMBL operates an integrated securities platform organized around three core product lines: fixed income trading (government, provincial, corporate, municipal, asset-backed, and mortgage-backed securities), institutional services (order execution, clearing, custody, and administrative support for brokerage firms and portfolio managers), and economic research (macroeconomic analysis and investment strategy published by a dedicated chief economist). The technology stack includes electronic trading platforms, FIX protocol integration, intelligent order routing on a low-latency network, algorithmic trading suites for Canadian and US dollar markets, direct market access, and pre-trade risk assessment. VMBL participates in the CanDeal electronic trading system as a liquidity provider and integrates with the Croesus investor portal for client account management.

VMBL generates revenue predominantly through transaction-based fees: fixed income trading commissions, debt capital markets underwriting and syndication fees, institutional services fees for execution/clearing/custody, FX services, and structured product distribution. Pricing is not publicly disclosed and operates on flexible commission schedules tailored to institutional client volume and service requirements. The go-to-market is sales-led and relationship-based, supported by dedicated account teams and business development professionals targeting Canadian brokerage firms, portfolio managers, and government/corporate issuers.

Name

Laurentian Bank Securities

Legal name

Valeurs mobilières Banque Laurentienne inc.

Website

https://vmbl.ca

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Institutional Fixed Income Brokerage

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Market Makers & Liquidity Providers (OTC/prop/MM) (FSAPADAD)

akta.pro secondary industry

FX Derivatives (Forwards, Options, NDFs) (FSACADAC)

Keywords

• Fixed income brokerage
• Institutional securities dealing
• Debt capital markets
• Institutional execution custody
• Economic research advisory

Headquarters

HQ city

Montréal

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Fixed Income Trading & Brokerage Commissions: Transaction-based revenue from trading government bonds, provincial bonds, mortgage-backed securities, corporate bonds, municipal bonds, and asset-backed securities. Revenue generated through commissions on trades executed for institutional clients.
2. Debt Capital Markets Underwriting: Fees from underwriting and syndicating fixed income issuances for government, municipal, and corporate clients. Services include customized financing structuring, structured note issuance, strategic financing advisory, and optimal liability structure analysis.
3. Institutional Services Fees: Fees for order execution, clearing, custody, and administrative support services provided to brokerage firms and portfolio managers across Canada.
4. Foreign Exchange Services: Strategic global approach helping clients implement hedging strategies and mitigate currency fluctuation impact. Revenue from execution and pricing in dynamic FX markets.
5. Structured Products (GICs/Equity-Linked): Structured products offering market performance with guaranteed capital, generating revenue through product structuring and distribution margins.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Valeurs mobilières Banque Laurentienne (VMBL) is a full-service investment dealer specializing in fixed income trading and underwriting, institutional execution/clearing/custody/administration services, debt capital markets advisory, foreign exchange hedging, and macroeconomic research for government, corporate, and institutional clients across Canada. As a Bank of Canada Primary Dealer and CanDeal liquidity provider, it delivers primary and secondary market liquidity in Canadian government, provincial, corporate, municipal, mortgage-backed, and asset-backed securities, supported by electronic trading, algorithmic execution, and direct market access.

Product overview

Valeurs mobilières Banque Laurentienne (VMBL) operates as a single integrated securities brokerage platform offering fixed income trading, institutional services, and economic research. The core product suite centers on Revenu fixe (Fixed Income) trading, complemented by Services aux institutions (Institutional Services) for order execution, clearing, and custody, and Recherche économique (Economic Research) for macroeconomic analysis. Key sub-products include Marchés des capitaux d'emprunt (Debt Capital Markets) for underwriting and financing, Courtier remisier et gestionnaire de portefeuille (Introducing Broker/Portfolio Manager services) for intermediary firms, Services de change (Foreign Exchange Services) for FX hedging, CPG-Action (GIC-Stock structured products), and Revue des marchés (Market Review) for market commentary and pricing data. The platform positions itself among Canada's top 10 fixed income brokers with over 25 years of experience.

Differentiator

Problem solved

Functional benefit

Products and services

• Fixed Income Trading (Revenu fixe) Primary and secondary trading of government bonds, treasury bills, provincial bonds, corporate bonds, municipal bonds, asset-backed securities, and mortgage-backed securities. VMBL acts as a Bank of Canada Primary Dealer for Government of Canada bonds and treasury bills and as a CanDeal liquidity provider.
• Institutional Services (Services aux institutions) Order execution, clearing, custody, and administrative support services for brokerage firms and portfolio managers across Canada, including a dedicated trading desk and service teams.
• Economic Research (Recherche économique) Macroeconomic research, financial projections, investment strategy recommendations, and detailed economic forecasts for Canada and provinces, including analysis of Canadian monetary and fiscal policy.
• Debt Capital Markets (Marchés des capitaux d'emprunt) Underwriting and syndication of fixed income issuances for government, municipal, and corporate clients, including structured note issuance, strategic financing advisory, optimal liability structure analysis, interest rate and FX hedging execution and advisory, and credit facilities through Laurentian Bank.
• Introducing Broker and Portfolio Manager Services (Courtier remisier et gestionnaire de portefeuille) Professional solutions for introducing brokers and portfolio managers including account operations, direct market access, algorithmic execution, compliance support, web account access, and a transactional platform powered by the Croesus investor portal.
• Foreign Exchange Services (Services de change) Strategic FX hedging strategy implementation to mitigate exchange rate fluctuation impact, with competitive pricing and optimal execution in dynamic FX markets for corporate clients.
• GIC-Stock Structured Products (CPG-Action) Structured products designed by VMBL specialists offering stock market return participation while guaranteeing 100% of principal at maturity.
• Market Review (Revue des marchés) Daily market commentary, daily and weekly closing prices for Canada, NHA MBS and provinces, money market commentary, provincial financing program updates, public debt auction information, CMHC mortgage bond evaluation reports, and provincial transaction summaries distributed via email.

Quantifiable outcome

• Top 10 fixed income broker in Canada with over 25 years of experience

Named customers25 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• CanDealcoreTechnology or IntegrationVMBL participates in CanDeal as a liquidity provider, an electronic trading system for fixed income securities connecting dealers with their institutional clients.
• Fairstone Bank (Banque Fairstone)coreStrategic or Co-development PartnerPartnership agreement between Laurentian Bank and Fairstone Bank, part of broader strategic agreements announced by Laurentian Bank.
• National Bank (Banque Nationale)coreStrategic or Co-development PartnerPartnership agreement between Laurentian Bank and National Bank, part of broader strategic agreements announced by Laurentian Bank.
• CI Investment Services Inc.minorChannel Partner/ Reseller/ DistributorCI Investment Services Inc., a subsidiary of CI Financial Corp., will assume client accounts and assets from VMBL's discount brokerage division, transferring approximately 2,050 clients with $250 million in assets. Transfer expected to complete before year-end pending regulatory approval.
• B2B BanquecoreOthersRelated financial services entity under the Laurentian Bank group, offering business banking services.
• CroesuscoreTechnology or IntegrationCroesus investor platform provider used by VMBL for client account management and trading functionality.
• OCRI (Organisme canadien de réglementation des investissements)coreOthersCanadian investment industry regulatory organization governing VMBL's operations as a registered investment dealer.
• FCPI (Fonds canadien de protection des investisseurs)coreOthersCanadian investor protection fund providing coverage for client assets held by VMBL as a member firm.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Others

• CanDeal: CanDeal is the electronic fixed income trading platform in which VMBL participates as a liquidity provider. Comparable as a market infrastructure layer in Canadian fixed income where VMBL sits at the dealer side; not a direct competitor but a core channel/partner.

Broad incumbents

• Scotiabank Global Banking and Markets: Scotiabank GBM provides fixed income trading, debt capital markets, and institutional execution services globally with substantial Canadian coverage. Overlaps with VMBL on government bond market making, CAD/USD fixed income trading, and corporate debt underwriting.
• RBC Capital Markets: RBC Capital Markets is the investment banking arm of Royal Bank of Canada, with one of the largest fixed income, DCM, and institutional equities franchises in Canada. Significant overlap with VMBL on government bond market making, corporate debt underwriting, and institutional execution services.
• TD Securities: TD Securities is the wholesale banking arm of TD Bank Group, operating a major fixed income, currencies, and underwriting business across North America. Direct overlap with VMBL on government bond trading, DCM, and institutional execution, with greater scale and product breadth.
• BMO Capital Markets: BMO Capital Markets is the investment and corporate banking arm of Bank of Montreal, with a major fixed income trading and underwriting franchise in Canada and globally. Larger scale than VMBL but overlapping directly on Canadian government bond market making, DCM underwriting, and institutional execution services.
• CIBC Capital Markets: CIBC Capital Markets is the wholesale banking arm of Canadian Imperial Bank of Commerce. It competes with VMBL in Canadian fixed income trading, government and corporate bond underwriting, and institutional equity/fixed income execution for Canadian institutional clients.

Emerging players

• Canaccord Genuity: Canaccord Genuity is a Canadian-headquartered independent dealer with institutional equity and fixed income capabilities. Overlaps with VMBL on DCM underwriting for mid-market Canadian issuers and institutional execution services, though fixed income is not its primary franchise.
• Raymond James Canada: Raymond James Canada is the Canadian arm of Raymond James Financial, providing institutional fixed income, equity, and DCM services. Comparable as a mid-tier dealer serving Canadian institutional clients on fixed income trading and underwriting mandates.

Direct peers

• National Bank Financial Markets: National Bank Financial Markets is the dealer arm of National Bank of Canada and offers fixed income trading, government securities market making, institutional equity, and DCM — all services overlapping directly with VMBL's core offerings. Most relevant comparable as a Canadian fixed income broker with primary dealer-equivalent role among the Big 6.
• Desjardins Capital Markets: Desjardins Capital Markets is the institutional brokerage arm of Mouvement Desjardins, a major Quebec-based cooperative financial group. Overlaps with VMBL on Quebec-anchored fixed income distribution, government and provincial bond underwriting, and institutional services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/laurentian-bank-securities

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments12 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Laurentian Bank Securities