Boston, MA, USA
March 13, 2008

The Evolution of Direct 
Market Access (DMA)
Trading Services in the 
US and Europe

Table of Contents

Return to report Abstract

Executive Summary 04
Introduction 05
Market Backround 06
  DMA Definitions and Elements 06
DMA Adoption and Growth 09
  DMA Volumes: US 11
  DMA Volumes: Europe 13
DMA Market Models and Providers 16
  Execution Models 16
  Evolution of DMA Platforms 17
  Provider Landscape 18
DMA Details: Pricing, Market Share, and Connectivity 20
  Pricing Structure 20
  Provider Positioning 21
  Connected Marketplaces 23
DMA Provider Selection Process 28
  Rent Vs. Buy/Build 28
Conclusions 31
 

        

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