DMA Trading
Direct Market Access (DMA) is an advanced method of trading share CFDs, enabling you to see and interact directly with the order books of a range of international exchanges.
The benefits of DMA
With regular Over-the-Counter (OTC, or Level 1) CFD trading you see a single market price – the current bid/offer spread derived from the underlying equities exchange.
DMA (also known as Level 2, or L2) trading, however, lets you view significantly extended pricing data from a number of international exchanges. You can gauge the market’s liquidity and place orders at any level, potentially mitigating any market spread.
You can also place orders during pre- and post-trading auctions, to take advantage of the substantial liquidity and potential for further price savings available during these popular trading periods.
How does DMA work?
In the L2 order book, the current bid/offer prices are highlighted in yellow, together with the volume of shares currently available at that level. Below that you can see the volume at less favourable prices.
You can choose to enter an order at any price – either at one of the prices already in the order book, or by setting your own price and waiting for a matching order. For an example of L2 trading, see our DMA Examples page.
Cutting-edge DMA platforms
Our DMA platforms are designed so you can benefit fully from the transparency and flexibility of DMA trading.
- PureDMA adds DMA capabilities to our award-winning PureDeal trading platform, giving you the flexibility and increased control of DMA trading.
- For the professional trader, our L2 Dealer is a downloadable program specially designed for L2 trading, giving you unrivalled DMA functionality and choice of order types.
