Q&A · ESMA
Direct Electronic Access (DEA) and algorithmic trading
Answered
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An order sent through direct electronic access and executed on a venue is, for the DEA user, a single on-venue trade rather than an OTC trade with the DEA provider followed by an on-venue trade, subject to specific guidance such as on transaction reporting.
Details
| Reference | ESMA_QA_1489 |
|---|---|
| Issuer | ESMA |
| Published | 3 Feb 2021 |
| Answered | 3 Feb 2021 |
| Submitted | 3 Feb 2021 |
| ESMA topics | Direct Electronic Access and algorithmic trading |
| Earlier Q&A document | ESMA 70-872942901-38 MiFID II MiFIR market structures Q&A, Q&A 3.32 |
Provisions it relates to
- Article 4 MiFID II · DefinitionsInferred · 75%
- MiFID II (whole act)Explicit reference