Direct Market Access definition

Direct Market Access or “DMA” means an arrangement among a Sponsoring Broker, its Customer and BSEF that allows one or more representatives of that Customer to have Trading Access using the Participant ID of the Sponsoring Broker.

Direct Market Access means a service provided by a Member Firm through which a Customer is able to submit orders to the Trading System operated by the Exchange under the Member Firm’s trading codes and via the Member Firm’s order management system, but without manual intervention by the Member Firm, and where the Customer can exercise discretion regarding the exact fraction of a second of order entry and lifetime of the order within that timeframe;

Direct Market Access or “DMA” means an arrangement by and between a Sponsoring Broker and its Customer in accordance with the Rules which permits one or more Authorized Traders of the Customer to access the MarketAxess SEF Trading System by means of the Trading Privileges granted to the Sponsoring Broker.

Examples of Direct Market Access in a sentence

• When Orders are entered through Direct Market Access, the Trader’s ID is optional.

• If there are open Orders in the Electronic Trading System and a technical problem occurs with any of the Electronic Trading System’s terminals, or with a Member’s Direct Market Access, or with the Order Management Mechanisms, that prevents the transmittal or entry of additional Orders, such Orders as may already have been entered will remain valid until cancelled by the Member in question.

• In the above situation, the Trader will be empowered to modify or cancel said Orders using another of the Electronic Trading System’s terminals or the Direct Market Access assigned to the Member he or she represents or the Member’s Order Management Mechanism.

• If a Sponsoring Broker has actual or constructive notice of a violation of the BSEF Rules in connection with Direct Market Access by its DMA Customer and the Sponsoring Broker fails to take appropriate action, BSEF may consider that the Sponsoring Broker has committed an act detrimental to the interest or welfare of BSEF.

• For the avoidance of doubt any request for review of a trade must be made by a Trading Participant even if the order for the trade were entered by a Direct Market Access Client or a Participant who is not a Trading Participant.

More Definitions of Direct Market Access

Direct Market Access means an arrangement where a member or participant of a trading venue permits a person to use its trading code so the person can transmit orders electronically to the investment firm's internal electronic trading systems for automatic onward transmission under the investment firm's trading code to a specified trading venue;

Direct Market Access or “DMA” means an arrangement among a Sponsoring Broker, its Customer and BSEF that allows one or more

Direct Market Access means a service provided by a Member Firm through which a Customer is able to submit orders to the Trading System operated by the Exchange under the Member Firm’s trading codes and via the Member Firm’s order management system, but without manual intervention by the Member Firm;

Direct Market Access means a service provided by a Member Firm through which a Customer is able to submit orders to the trading system operated by the Exchange under the Member Firm’s

Direct Market Access or “DMA” means the process by which orders to buy or sell Contracts including any modifications and cancellations thereof are submitted for execution in the ATS by persons referred to in Rule 617.4 without any intervention by a Registered Representative and/or being entered or re-entered by a Registered Representative.

Direct Market Access or “DMA” shall mean an arrangement whereby a Trading Participant’s client is permitted to enter orders to buy or sell securities including any modifications and cancellations directly into the PSE trade matching system for automatic execution without any intervention by the Trading Participant.

Direct Market Access means direct access to the SGX-ST trading system, being any electronic trading system for the automatic matching of orders designated and approved by SGX-ST for transactions on SGX-ST, via an SGX-ST provided or SGX-ST approved order management system through which orders are routed to the SGX-ST trading system;