RBS Securities is the US broker/dealer arm of Royal Bank of Scotland (RBS), one of Europe's largest banking group's. The company is a leading underwriter, trader, and distributor of fixed income and other investment products. RBS Securities specializes in US dollar derivatives, asset-based securities, corporate debt, and mortgage-backed securities. It is also active in commercial real estate finance, foreign exchange, futures trading, and mergers and acquisitions financing. RBS Securities primarily serves institutional and government clients. After a series of economic bailouts, RBS and its subsidiaries are controlled by the UK government.