Direct Market Access― The Next Frontier

摘要

Only a few years ago, the elec-tronic-trading landscape was one in which the major players were small software companies that were sometimes attached to agency brokers; these small software providers were running circles around their full-service competitors. Now, those same full-service brokers have acquired the vast majority of the direct-market-access (DMA) providers and are busily folding them into their full-service environments.