UK retail stockbrokers are being offered a new service from Dresdner Kleinwort Wasserstein which enables them to trade directly on all of Europe's major stockmarkets, including the NYSE and Nasdaq, using a single connection.
The Direct Market Access (DMA) service enables brokers to obtain real-time market prices from exchanges’ order books through a single electronic interface, and place exchange orders including limit orders, DrKW says.
Although pricing is not being revealed, a spokeswoman says it will be “competitive” and focused on providing cost-efficiencies in three ways:
Retail customers should benefit from using the system by getting easier and more cost-effective access to stock markets worldwide, DrKW adds.
Stockbrokers and IFAs can use DMA through existing DrKW “bestconnect” connections.IFAonline
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