>  Direct Market Access (DMA)
Direct Market Access (DMA)
Direct Market Access (DMA) refers to an electronic trading facility through which investors are enabled to interact directly with the order book of an exchange. This access is provided via the infrastructure of a Broker-Dealer, without any manual intervention.

As per the IFSCA circular IFSCA/CMD-DMIIT/EXCHTRD/2023-24/001, dated June 21, 2023, the DMA facility has been approved for implementation within the International Financial Services Centre (IFSC). The guidelines outlined in the circular are required to be followed by all Broker-Dealers and Trading Members of India INX.

Members of India INX intending to offer DMA facilities are required to submit the necessary documentation, including system audit reports, user ID details, and undertakings, as specified in the Exchange circular.