RBS Securities, a subsidiary of Royal Bank of Scotland (RBS), is a leading underwriter, trader, and distributor of fixed-income investment products. The company specializes in US dollar derivatives, asset-based securities, corporate debt, and prime and subprime mortgage-backed securities. It also is active in corporate banking, commercial real estate finance, foreign exchange, futures trading, and financing of mergers and acquisitions. Most of RBS Securities' clients are institutional counterparties and government entities. RBS Securities and its affiliates have offices across the US.