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Get Started in Shares by Glen Arnold

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The advanced stuff – direct market access

Once you are a little more familiar with trading you can pay for a special service called direct market access (DMA), allowing you to trade directly in the stock market, placing buy and sell orders into the LSEs electronic order book (e.g. SETS) alongside the professionals. To do this you need to download the necessary software from a DMA provider – a service offered by some stockbrokers. Despite the direct link into the market you will still be trading via a broker when using DMA.

To use DMA you will subscribe for a ‘Level 2 package’ (see page 108) so that you can see the buy and sell orders placed by other investors, and then be able to watch your order flash up on the SETS or SETSqx screen.

There are ...

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