Algorithmic trading and Direct Market Access (DMA) are important tools for executing orders.

Over the last few years algorithmic trading has gathered more and more attention. Essentially a computerised system is responsible for executing the orders to buy or sell a given asset, rather than being worked manually by a trader. So a computer program follows preset rules to determine how each order should be executed. Based on these rules it splits off portions (or child orders) to send to the market, often tracking market conditions and events.

Direct Market Access (DMA) enables the buy-side to issue electronic orders almost directly to the exchanges, by using a proxy for their broker’s membership.