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Iran’s state grains buying agency GTC bought about 450,000 tonnes of milling wheat for August shipment, European traders said. This latest purchase, including of Russian and Baltic Sea origin, comes after Iran bought more than 800,000 tonnes last month in two weeks, ahead of the country’s elections. Dealers said the wheat buying had partly been made possible by the use of money in Iran’s bank accounts in several countries which had been frozen by sanctions.DAVID MDZINARISHVILI/Reuters

Demand from institutional clients has driven RBC Dominion Securities into the commodities index business, and the bank has hired a New York-based leader for its new unit.

Kathy Kriskey will be head of commodity investor sales, where she will build up the division with a focus on commodity index products such as swaps and funded notes.

"This business is a natural extension of our existing commodity franchise that spans agriculture, metals and energy," said Bruce Macdonald, head of commodities and electronic trading at RBC Dominion Securities.

Ms. Kriskey most recently worked at CIBC marketing commodity index products to asset managers, pension plans, sovereign wealth funds and other clients.

(Jacqueline Nelson is a Globe and Mail Financial Services Reporter.)

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 27/03/24 2:16pm EDT.

SymbolName% changeLast
CM-N
Canadian Imperial Bank of Commerce
-0.46%50.07
CM-T
Canadian Imperial Bank of Commerce
+0.67%67.9
E-T
Enterprise Group Inc
+1.18%0.86
G-N
Genpact Ltd
+1.39%32.76
G-T
Augusta Gold Corp
-1.94%1.01
H-T
Hydro One Ltd
-0.55%39.6
M-N
Macy's Inc
+4.04%19.85
RY-N
Royal Bank of Canada
+1.26%100.4
RY-T
Royal Bank of Canada
+1.12%136.23
Y-T
Yellow Pages Ltd
+0.2%9.89

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