RCM Alternatives

What RCM Alternatives does

RCM Alternatives, operating as a registered introducing broker and dba of Reliance Capital Markets II LLC, is a Chicago-headquartered (318 W Adams St., 10th Floor) alternative investment infrastructure provider founded in 2003. The firm serves two distinct customer sets: asset managers (CTAs, CPOs, hedge funds, ETF/Mutual Fund/UCITS managers, Professional Trading Groups, and emerging managers) and investors (institutional allocators, high-net-worth individuals, RIAs & broker-dealers, and family offices). Core offerings include a 24/6 institutional trade desk covering 300+ markets across 30+ global exchanges, multi-FCM clearing orchestration across 10+ clearing relationships, ETF and 40 Act fund launch services through wholly owned subsidiary Attain Portfolio Advisors, and the SMA Platform — a digital investor-facing portal with proprietary CTA database search, portfolio testing, and cross-margining capabilities powered by Fundpeak.

The technology stack is institutional-grade execution infrastructure: FIX Protocol messaging and RESTful APIs for low-latency order routing, advanced execution algorithms (VWAP, TWAP, Implementation Shortfall, Liquidity-Seeking), Bloomberg EMSX integration, SFTP file transfers for quantitative workflows, and a multi-FCM single-point-of-contact clearing platform. Investor-facing technology centers on the SMA Platform with database/fund search, customizable watchlists, walk-forward performance tracking, and integration with BarclayHedge as a performance data source.

RCM Alternatives generates revenue through four primary streams: commission-based trading revenue from futures and options execution, CTA referral fees on accounts introduced to third-party managers, interest income share on client account assets, and professional services fees from Attain Portfolio Advisors for fund startup, NFA compliance, documentation, investor onboarding, and DTCC registration. Pricing is quote-based and volume-tiered with no hidden platform or market data pass-throughs. The firm operates globally with affiliate entities covering agricultural commodities (RCM Ag Group), China (Jing Shang Chi), Latin America (LatAm Group), and automated trading (AutomatedTrading.com), claiming presence in 25+ countries, 2,500+ investor accounts, and 100+ CTAs and funds allocated through the platform.

Name

RCM Alternatives

Legal name

Reliance Capital Markets II LLC

Website

https://rcmalternatives.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

RCM Alternatives is a Chicago-based registered introducing broker providing institutional alternative investment infrastructure including outsourced trading, multi-FCM clearing, ETF/40 Act fund launch services, and an SMA platform for investors, serving CTAs, hedge funds, ETFs, family offices, and HNW individuals across 25+ countries.

Ownership category

akta.pro rank

Product category

Alternative Investment Brokerage Services

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (523160), Portfolio Management and Investment Advice (52394)

SIC

Commodity Contracts Brokers & Dealers (6221), Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Alternatives & Multi-Asset Digital Wealth Platforms (PE/VC/Real Assets access) (FSAGAEAL)

akta.pro secondary industry

Unit Registry & Transfer Agency for Alternatives (Private Funds, SPVs, Closed-End) (FSAAAMAK)

Keywords

• Alternative investment services
• Futures and options brokerage
• Introducing broker services
• Outsourced trade execution
• Managed futures platform

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commission-based Trading Revenue: RCM receives a portion of commodity brokerage commissions from futures and options trading executed through their desk
2. CTA Referral Fees: CTAs pay RCM a portion of the fees they receive from accounts introduced to them by RCM
3. Interest Income: RCM receives a portion of interest income earned on client account assets
4. Fund Operations & Launch Services: APA (Atain Portfolio Advisors) handles fund startup and operations for managers, generating fees for setup and ongoing support

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

RCM Alternatives is a registered introducing broker (operating as a dba of Reliance Capital Markets II LLC) that provides institutional-grade alternative investment infrastructure to asset managers and investors. Its core services include a 24/6 outsourced trade desk covering 300+ markets across 30+ global exchanges, multi-FCM clearing coordination with 10+ futures commission merchants, and the SMA Platform for investors offering access to a proprietary database of CTAs and alternative managers. The firm also delivers ETF/40 Act fund launch support and, through its subsidiary Attain Portfolio Advisors (APA), handles fund startup, NFA compliance, investor onboarding, and DTCC registration for emerging and established alternative managers.

Product overview

RCM Alternatives operates as a platform-plus-services model offering institutional-grade alternative investment infrastructure. The core offerings include: Outsourced Trading (24/6 trade desk across 300+ markets), Multi-FCM Clearing Solutions (10+ clearing relationships), and ETF/40 Act Fund Services for futures-based fund launch. For investors, the SMA Platform provides access to a proprietary database of CTAs and alternative managers with portfolio analysis tools, while the Database/Fund Search platform offers proprietary manager rankings and portfolio testing. Additional services span CTA/Hedge Fund/CPO infrastructure, Professional Trading Group services, Liquid Alternative funds, and Do It For Me managed solutions. Education is delivered through The Derivative podcast, blog, whitepapers, and infographics. The wholly owned subsidiary Attain Portfolio Advisors handles fund startup and compliance. The platform serves asset managers (CTAs, hedge funds, ETFs) and investors (institutional, HNWI, RIAs, family offices) through integrated trading, clearing, and capital introduction capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• Attain Portfolio Advisors (APA): Wholly owned subsidiary handling fund startup, NFA compliance, fund documentation, investor onboarding, DTCC registration, and access to pre-vetted service providers for emerging fund managers.

Products and services

• Outsourced Trading 24/6 institutional trade desk covering 300+ markets across 30+ global exchanges, staffed by futures and options veterans who handle execution from simple orders to complex algorithmic strategies. Designed for asset managers seeking institutional-grade execution without infrastructure burden.
• Multi-FCM Clearing Solutions Access to 10+ FCM (Futures Commission Merchant) relationships managed through a single point of contact, providing the right clearing partner without the operational complexity of juggling multiple workflows. Built for alternative investment managers and professional trading groups.
• CTA/Hedge Fund/CPO Services Institutional infrastructure for alternative managers spanning multi-clearing FCMs, 24-hour trade desk, back-office services, and capital introductions to fuel growth. Built for Commodity Trading Advisors, Commodity Pool Operators, and hedge fund managers.
• ETF & 40 Act Fund Services End-to-end support for launching futures-based ETFs and mutual funds, from concept to launch, including multi-broker clearing, 24/6 trading desk access, and connections to the trusted fund ecosystem. Designed for ETF and mutual fund sponsors and UCITS managers.
• Professional Trading Groups (PTG) Services Executive-level access and specialized FCM relationships securing clearing capacity, capital arrangements, and custom infrastructure for professional trading groups and proprietary trading operations.
• SMA Platform Digital platform supporting the entire investment lifecycle with access to the proprietary database of CTAs and alternative managers, from discovery to portfolio analysis, with transparency and capital-efficient cross-margining. Built for institutional investors, RIAs, family offices, and high net worth individuals.
• Database / Fund Search Proprietary ranking system evaluating managers across multiple dimensions and time periods, with customizable watchlists, multiple portfolio testing with leverage, and walk-forward performance tracking. Built for alternative investment research and due diligence.
• Liquid Alternative ETFs/Mutual Funds Curated selection of accessible liquid alternative funds and ETFs, paired with practical guidance on how alternatives fit within portfolios. Targeted at investors seeking easy-to-access liquid alternative exposure.
• Do It For Me Professionally managed solutions delivering diversification across multiple managers and strategies without the legwork, providing investors a hands-off approach to alternative exposure through curated multi-manager portfolios.
• Self-Directed Trading Platforms, execution, and human support for trading futures and options with confidence, providing investors control over their investment strategy directly through the firm's brokerage infrastructure.
• Attain Portfolio Advisors (APA) Wholly owned subsidiary handling fund startup including NFA compliance, fund documentation, investor onboarding, DTCC registration, and access to pre-vetted service providers at discounted rates. Targeted at emerging and established alternative fund managers.

Quantifiable outcome

• Transition to outsourced trading typically completed within 2-3 weeks for most clients
• +2 more outcomes

Named customers1 record

Segments8 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• RCM Ag GroupminorOthersAffiliate of RCM Alternatives specializing in agricultural commodities and services
• Jing Shang Chi (China)minorOthersChina-based affiliate of RCM Alternatives serving the Asian market
• LatAm GroupminorOthersLatin America affiliate of RCM Alternatives serving the regional market
• AutomatedTrading.comminorOthersAffiliate focused on automated trading solutions and technology
• FundpeakcoreTechnology or IntegrationPowers RCM's CTA database and fund search platform. Provides the technology infrastructure for RCM's investor-facing research and manager database tools.
• Atain Portfolio Advisors (APA)coreOthersWholly owned subsidiary of Reliance Capital Markets II LLC handling fund startup, NFA compliance, fund documentation, investor onboarding, and DTCC registration
• Reliance Capital Markets II LLCcoreOthersParent company and registered entity of which RCM Alternatives is a registered dba

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Interactive Brokers: Large electronic broker providing low-cost futures and options execution globally to institutional and retail clients. Comparable to RCM on the self-directed trading and platform layer, but competes on price and scale rather than boutique advisory service.
• StoneX Group (formerly INTL FCStone): Large, publicly traded diversified financial services firm offering futures execution, clearing (FCM), FX, commodities, and securities services globally. Directly comparable to RCM as a multi-FCM/multi-asset execution and clearing provider but with significantly broader scale and product breadth.
• Marex: Global commodities-focused financial services platform providing brokerage, clearing, hedging, and trading services across energy, metals, and agricultural markets. Comparable to RCM's multi-FCM clearing and outsourced trading for alternative managers, but operating at substantially larger scale post-NEX and ED&F Man Capital Markets acquisitions.
• ADMIS (ADM Investor Services): FCM subsidiary of ADM providing futures clearing, execution, and prime brokerage services to institutional clients. Comparable to RCM's clearing and execution offerings but operating at a larger scale as a fully integrated FCM.

Others

• BarclayHedge: Provider of hedge fund and CTA performance data, research, and analytics used extensively by the managed futures industry. Adjacent to RCM through its data integration powering the SMA platform's manager research capabilities.

Direct peers

• R.J. O'Brien & Associates: Chicago-based independent futures broker and introducing broker serving institutional and retail clients, with clearing access across major FCMs. Closely comparable to RCM's core introducing broker / outsourced trading business model for managed futures and alternative managers.
• Wedbush Futures: Introducing broker offering futures and options execution, clearing, and managed futures access to institutional and retail clients. Directly comparable to RCM as a boutique-to-mid-market IB focused on alternative investments.
• AMP Global Clearing: Futures broker and clearing firm providing execution, clearing, and technology infrastructure to CTAs, hedge funds, and professional traders. Directly comparable to RCM's outsourced trading and multi-FCM clearing offerings.
• Mirus Capital (now part of Marex): Futures execution platform specifically focused on CTAs, hedge funds, and managed futures — providing multi-broker clearing and execution technology. Highly comparable to RCM's outsourced trading and multi-FCM platform for alternative managers.

Regional players

• Phillip Nova: Singapore-based futures broker and clearing subsidiary of Phillip Capital, providing execution and clearing services across Asian and global derivatives markets. Comparable to RCM's outsourced trading model but focused on Asia-Pacific clients.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/rcmalts
• LinkedInlinkedin.com/company/rcm-asset-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about RCM Alternatives