DrKW pitches new IT for retail stockbrokers

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: savings should occur on a “real cost” basis, by replacing existing set-ups whereby brokers may be dealing with different exchanges directly, cross-margin savings should be enabled, and brokers should make time savings by using t...