RMD

What RMD does

RMD is a South African financial services firm founded in 1997 that operates two regulated entities — Robinson Mulder De Waal Financial Services (Pty) Ltd (FSP 36712) and RMD Portfolio Management (Pty) Ltd (FSP 714) — both members of the JSE Limited. The firm specializes in agriculture futures trading on SAFEX, currency trading (spot, forward, futures, physical), financial futures, equities and single stock futures, diesel hedging, and discretionary portfolio management. It serves a mix of individual traders, farmers, grain traders, agricultural producers, and corporate clients requiring commodity, currency, or fuel-price hedging. RMD holds no publicly disclosed revenue and operates with a micro headcount of 1-10 employees.

RMD's technology stack comprises proprietary platforms including RMD Physical (a paper-trader platform for physical derivatives), the Avvento live trading portal, an MTM Reports system for daily mark-to-market data, and weather/rainfall reporting tools. The firm integrates third-party data sources — SAGIS grain market data, USGS earthquake monitoring, Tropical Storm Risk, USGS volcano feeds, and RSA GRADS sub-seasonal forecasts — alongside proprietary content such as RSA Rail Maps by province. Distribution occurs through the website, Telegram bot, WhatsApp, and direct sales; pricing is quote-based and not publicly disclosed.

The revenue model is transaction-fee driven across trading products, supplemented by recurring management and performance fees from RMD Portfolio Management under FSP 714, and subscription-based market research. RMD has received multiple JSE Spire Awards from 2013 through 2022, including first-place finishes in Listed Commodity Derivatives (2013, 2017, 2019, 2020, 2021) and Physical Derivatives (2022), positioning it among the established specialist brokers in the South African agriculture derivatives ecosystem.

Name

RMD

Legal name

Robinson Mulder De Waal Financial Services (Pty) Ltd

Website

https://rmd.co.za

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

1–10 employees

Short description

RMD is a South African financial services firm offering agriculture futures, currency, equities, and financial futures trading plus portfolio management to farmers, traders, and corporates through two JSE-member FSP entities.

Ownership category

akta.pro rank

Headquarters

HQ city

Cape Town

HQ country

South Africa

HQ region

Africa

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Agriculture Futures Trading: Transaction and commission fees from trading agricultural futures contracts on SAFEX (South African Futures Exchange).
2. Currency Trading: Revenue from currency trading including spot, forward, and futures contracts for individuals and corporates.
3. Financial Futures Trading: Fees from trading financial futures including interest rate derivatives and index products.
4. Portfolio Management: RMD Portfolio Management provides managed portfolio services as a registered FSP (714), generating revenue through management fees and performance fees.
5. Equities and Single Stock Futures: Trading commissions from equities trading and single stock futures products.
6. Physical Currency Trading: Physical currency exchange services for individuals and corporates.
7. Diesel Hedging: Commodity hedging services specifically for diesel fuel price risk management.
8. Market Research: Relevant market research services provided to clients for trading decision support.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels1 record

Core offering

RMD is a South African JSE-member financial services firm that provides agency brokerage and execution across agricultural futures (SAFEX), financial futures, currencies, equities, and single stock futures, together with managed portfolio services through its FSP 714 entity and proprietary market-intelligence tools (MTM Reports, live weather/rainfall reporting, RSA Rail Maps). It serves both individual and corporate clients with a particular specialization in agricultural commodity hedging and physical deliveries.

Product overview

RMD (Robinson Mulder De Waal Financial Services) operates as a multi-product financial services platform offering trading and risk management solutions. The core offering comprises agriculture futures trading, currency trading, financial futures trading, portfolio management, equities trading, and diesel hedging services. Key platforms include RMD Physical (physical derivatives trading), MTM Reports (daily mark-to-market data), and RMD Weather (live rainfall and weather reporting). Additional tools include RSA Rail Maps for agricultural logistics. The company is split into two regulated entities: RMD Financial Services (FSP 36712) and RMD Portfolio Management (FSP 714), both members of the JSE Limited.

Differentiator

Problem solved

Functional benefit

Products and services

• RMD Physical Paper-trader platform for physical derivatives trading on South African commodity markets, used for simulation and as an entry point to RMD's physical-deliveries offering.
• MTM Reports Daily mark-to-market valuation reports published by RMD providing real-time position valuation data for clients holding JSE/SAFEX derivative positions.
• RMD Weather Service Customized weather, rainfall, conditions, and ENSO reporting service for South African regions, packaged with agricultural decision-support content for RMD clients.
• Agriculture Futures Trading Agency brokerage and execution services for agricultural commodity futures contracts on the South African Futures Exchange (SAFEX), with physical-delivery capability.
• Currency Trading Spot, forward, futures, and physical currency exchange services for individual and corporate clients, including physical currency for individuals and corporates.
• Financial Futures Trading Agency execution for financial futures including interest rate derivatives and index products listed on the JSE/SAFEX Yield-X.
• Portfolio Management Discretionary managed portfolio services delivered through RMD Portfolio Management (FSP 714), a Fund Managers Association member entity that generates revenue via management and performance fees.
• Equities and Single Stock Futures Trading Trading services for JSE-listed equities and single stock futures, providing equity market access and stock-specific hedging capability.
• Diesel Hedging Commodity hedging service specifically targeting diesel fuel price risk for businesses with significant fuel consumption.
• Market Research Curated market research and intelligence publications distributed to RMD clients to support trading and hedging decisions.

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• JSE LimitedcoreOthersRMD is a member of JSE Limited, South Africa's primary securities exchange. RMD Financial Services (FSP 36712) and RMD Portfolio Management (FSP 714) are both members of the JSE. RMD Portfolio Management is also a member of the Fund Managers Association of South Africa.

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• ED&F Man Capital Markets: ED&F Man Capital Markets is a London-based commodity-focused brokerage offering execution, clearing, and market intelligence in soft commodities and financial futures. It competes in agricultural commodity brokerage, similar to RMD, but with a global rather than South African-only footprint.
• Ninety One: Ninety One is a major South African-headquartered asset manager offering multi-asset portfolios and a member of the Fund Managers Association. It competes with RMD Portfolio Management (FSP 714) in managed-portfolio mandates, though Ninety One serves institutional and retail clients at substantially greater AUM scale.
• ADM Investor Services: ADM Investor Services is the brokerage arm of Archer Daniels Midland, providing agricultural commodity execution and research globally. It overlaps directly with RMD's SAFEX agricultural futures franchise but is part of a global grain trading major, far larger than RMD.
• StoneX Group: StoneX is a global, publicly traded commodity and securities brokerage offering execution, clearing, and FX across agricultural and financial futures. It competes with RMD in agricultural derivatives execution but operates at far greater scale and global breadth rather than a South African niche.
• Coronation Fund Managers: Coronation is a leading South African asset manager providing institutional and retail managed portfolios and is a member of the Fund Managers Association. It is comparable to RMD's portfolio management offering but with significantly larger AUM and a broader product range.
• R.J. O'Brien: R.J. O'Brien is one of the largest independent US futures brokers and a major agricultural derivatives intermediary. It overlaps with RMD's core agricultural futures execution model but operates globally and clears across multiple international exchanges, whereas RMD is JSE-centric.
• Allan Gray: Allan Gray is one of South Africa's largest privately owned investment managers offering balanced, equity, and fixed-income portfolios. It is comparable to RMD Portfolio Management in South African regulated asset management, though with much broader distribution and AUM scale.
• Sanlam Investments: Sanlam Investments is the asset management arm of Sanlam Limited, one of South Africa's largest financial services groups, offering managed portfolios and institutional mandates. It competes with RMD Portfolio Management for South African investment mandates and benefits from substantially greater brand and distribution scale.
• Marex: Marex is a global commodity-focused brokerage and clearing firm serving agricultural, energy, and metals clients. It is comparable to RMD as a multi-asset execution intermediary, though its product breadth, global footprint, and institutional client base exceed RMD's regional scale.

Direct peers

• PhillipCapital: PhillipCapital operates a multi-country brokerage and asset management franchise in Asia and Africa with currency, commodity, and securities execution. It is comparable to RMD as a multi-product financial services firm serving retail and corporate clients in emerging markets, though PhillipCapital's footprint is broader than South Africa alone.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks1 record

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 RMD