Development of access technologies
The Exchange continues to facilitate services for clients and implement initiatives to improve FX trading opportunities for brokers such as Direct Market Access (DMA), Sponsored Market Access (SMA), and International Clearing Membership (ICM).
In 2015, the Exchange introduced a new accessibility solution, SMA. In August, SMA was implemented on the ASTS platform, allowing the use of special client logins to access the trading system as part of Sponsored Direct Market Access. With SMA, member firms clients are now able to submit client instructions directly to the trading system, bypassing the broker. Orders are made based on the client’s instructions while trades are made on behalf of trading members but in the interests of and paid for by clients. SMA is very popular among participants and their clients because it significantly broadens clients’ options for building their own high-speed IT infrastructure, increasing their performance on the market. The SMA connection has also increased the client database for information products such as Non-Display licences and derived data licences.