A direct market access order is a trade placed by a trader directly with an exchange on its order books without having to go through a brokerage as an intermediary. This allows transparency, efficiency, and better pricing for the trader.<\/p>" } } , { "@type": "Question", "name": "What Is the Direct Market Access Rule?", "acceptedAnswer": { "@type": "Answer", "text": "
The Market Access Rule is Rule 15c3-5, which requires institutions with market access or that provide market access to clients to "appropriately control the risks associated with market access so as not to jeopardize their own financial condition, that of other market participants, the integrity of trading on the securities markets, and the stability of the financial system."<\/span><\/p>"
}
}
,
{
"@type": "Question",
"name": "What Is the Difference Between DMA and OTC?",
"acceptedAnswer": {
"@type": "Answer",
"text": " Direct market access (DMA) differs from over-the-counter (OTC) in that DMA places trades directly with an exchange while OTC happens outside of exchanges and directly between parties. DMA offers more transparency, liquidity, regulation, and better pricing.<\/p>"
}
}
]
} ] }
]