STP DMA - Direct Market Access

STP / DMA

Mt.Cook’s DMA liquidity model (exclusive to clients via the Global/VFSC license) was our first and original legacy liquidity stream. It has improved by leaps and bounds over the years and today is a “work of art” and provides a true institutional-grade trading environment without any Conflict of Interest.

Mt.Cook does not act in a Principal Dealer capacity via our DMA trading stream. 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.

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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.

 

Primary Benefits

Our DMA feed is only available via our Global License, and the primary benefits of it include the following:

  • Vast, Deep, Pools of Liquidity
  • Cost-Effective Trading Commissions
  • Customizable Liquidity
  • Lots of Exotic Currency Pairs
  • Excellent CFD Lineup
  • Cheap Swaps
  • Raw, Unfiltered Spreads (real market reflection)
  • Low Slippage
  • No Last Look to Price Makers
  • Very Low Rejection Rates
  • Tight Neutral Pricing
  • Unique Mix of Bank and Non-Bank Liquidity

 

In our view, the DMA feed is one of the most interesting structures in the industry, and a true reflection of the real market. This liquidity source provides one of the most beneficial broker/trader relationship as it means clients can trade the market alongside banks, as if they were a stand-alone liquidity participant themselves.

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The Mt.Cook DMA trading model employs STP market execution, 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).

 

Who Trades On The DMA Feed?

Anyone can trade on the DMA feed and reap the huge benefits of it. However the trading stream is often preferred by the following types of traders:

  • Large Ticket Traders
  • Institutional Clients
  • High Volume Traders
  • CFD Traders
  • Swap Sensitive Traders
  • Fund Managers
  • SMEs

 

Connectivity

  • Low Latency co-location to LPs via PrimeXM in Equinix LD4, NY4, and TY3
  • Metatrader4 server hosted in Equinix LD4
  • Live Server: MTCOOK-Live
  • Demo Server: MTCOOK-Demo

 

Liquidity Partners

Mt.Cook is proud to be a long standing partner with Divisa Capital, who serve as the primary liquidity source and Prime Broker for clearing on our DMA feed.

For more information, please read our detailed trading conditions for technical information and a comparison vs our ECN feed.

For any assistance in selecting the best liquidity feed to trade on (specific to your personal requirements or goals), please contact us at your convenience, and our team will be happy to help!

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