STP DMA - Direct Market Access

STP / DMA

Mt.Cook’s DMA liquidity model, provides a true institutional-grade trading environment without any Conflict of Interest.

Mt.Cook does not act in a Principal Dealer capacity. Instead all trading volume is passed directly through to live, executable liquidity sources from leading global FX banks resulting in consistent, low latency trade execution.

While the terms DMA (Direct Market Access), STP (Straight Through Processing) and NDD (non-dealing desk) technically have different meanings, they are often used interchangeably by market participants to describe  the same thing – fair and transparent, EFFICIENT trading.

Direct Market Access (DMA) refers to the ability of a buy-side trading desk to route orders directly to an execution venue without intervention by a sell-side party. The sell-side provides memberships, technology, trade support and credit. STP and NDD, mean that your clearing agent, operates as a true “agent” and not a principal.

In our view, this is the most beneficial broker/trader relationship as it ensures that Mt.Cook’s interests are completely aligned with the interests of our clients.

Mt.Cook employes both STP and DMA trade models and does not take the opposing side of our order book or hedge our client trading flow. In fact we do not run any form of a risk or b-book whatsoever per our mandate with our PB (meaning clients can never be switched to different feeds based on their experience and/or profitability).

Mt.Cook’s DMA model goes beyond a standard STP structure by ensuring that all traders have access to streaming prices direct from FX banks with fully transparent market and commission models. This allows traders to receive extremely low rejection rates along with tight, neutral pricing.