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DMA Issues

DMA Issues

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Published by Sukju Hwang

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Published by: Sukju Hwang on Apr 15, 2011
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04/15/2011

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Direct Market AccessDirect Market AccessDirect Market AccessDirect Market Access
Sukju Hwang IB Solution Team
 
Direct Market Access
Direct Market Access(commonly shortened to DMA) is a term used infinancial marketstodescribeelectronic tradingfacilities that giveinvestorswishing totradeinfinancialinstrumentsa way to interact with theorder bookof anexchange. Normally, trading on theorder book is restricted tobroker-dealersandmarket makingfirms that are members of theexchange.
Using DMA,investment companies(also known asbuysidefirms) and other privatetradersutilise theinformation
 
1
 banksand the market access that those firms have, but control the waya trading transaction is managed themselves rather than passing theorder over to the broker's own in-house traders for execution.
 
Direct Market Access
Buy-side
Buy-side
BuysideSellsideKRX

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