Direct Market Access

As a Direct Market Access (DMA ) systems are referred to, connect the broker or securities trading companies ( sell- side firms ) directly with the major securities markets.

End users or so-called buy- side firms achieve a sell-side firm with DMA direct access to the markets in which the respective securities takes place, the highest sales. Although the buyer to use the infrastructure (for example, the trading system ) the intermediary on the sell-side, but have direct access to the courses and spreads the leading stock exchanges, with which they are connected via DMA.

To access DMAs, for example, back on large and liquid trading venues such as Xetra, London Stock Exchange or NASDAQ. Same time, some systems also allow DMA but access to alternative trading venues such as multilateral trading facilities ( MTF).


For the buy- side firms or private investors have the choice of a broker with DMA market access compared to a broker that itself acts as a market maker only, the following advantages:

  • DMA platforms offer low transaction costs for the following reasons: DMAs that rely on multiple exchanges and trading venues that route orders directly to the stock exchanges and always there to trade places with the best price on.
  • Due to the higher liquidity spreads in the major trading centers are close. This usually both a faster and a more favorable construction is assured.


DMA was first offered by independent sell- side firms, but the high level of acceptance on the buy-side has increasingly led to even established sell- side firms offer trading via DMA.

In addition to currency trading, especially the trade in contracts for difference predestined for DMA, as it is especially in leveraged products in a quick and accurate price quotation.