direct electronic access means an arrangement where a member or participant or client of a trading venue permits a person to use its trading code so the person can electronically transmit orders relating to a financial instrument directly to the trading venue and includes arrangements which involve the use by a person of the infrastructure of the member or participant or client, or any connecting system provided by the member or participant or client, to transmit the orders (direct market access) and arrangements where such an infrastructure is not used by a person (sponsored access);
direct electronic access means the access provided by a person or company to a client, other than a client that is registered as an investment dealer with a securities regulatory authority or, in Québec, is a foreign approved participant as defined in the Rules of the Montréal Exchange Inc., that permits the client to electronically transmit an order relating to a security to a marketplace, using the person or company’s marketplace participant identifier,
direct electronic access means, in relation to a trading venue, an arrangement where a member or participant of a trading venue permits a person to use its trading code so the person can electronically transmit orders relating to a financial instrument directly to the trading venue. This definition includes such an arrangement whether or not it also involves the use by the person of the infrastructure of the member or participant, or any connecting system provided by the member or participant, to transmit the orders;
More Definitions of direct electronic access
direct electronic access means an arrangement whereby a member, participant or client of an organised market place allows another person to use its trading code so the person may electronically transmit orders to trade relating to a wholesale energy product directly to the organised market place, including arrangements which involve the use by a person of the infrastructure of the member, participant or client, or any connecting system provided by the member, participant, or client, to transmit the orders to trade (direct market access) and arrangements whereby such an infrastructure is not used by a person (sponsored access);
direct electronic access means an arrangement where a member or participant or client of a trading venue permits a person to use its trading code so that the person can electronically transmit orders relating to a financial instrument directly to the trading venue and includes arrangements which involve the use by a person of the infrastructure of the member or participant or client, or any connecting system provided by the member or participant or client, to transmit the orders (direct market access) and arrangements where such an infrastructure is not used by a person (sponsored access)."75 Unless clearly delineated, Direct Electronic Access (DEA) may qualify as infrastructure intended to minimise network and other types of latencies in the sense of the definitions of ‘algorithmic trading’ and ‘high- frequency algorithmic trading’ under Articles 4(1)(39) and 4(1)(40). It is therefore necessary to further clarify the distinction of DEA and in particular where a particular use of DEA may trigger the obligation to comply with provisions of MiFID II/MiFIR.
direct electronic access means an arrangement where a member or participant or client of a trading venue permits a person to use its trading code so the person can electronically transmit orders relating to a financial instrument directly to the trading venue and includes:
direct electronic access means an arrangement between a Participant that is a
direct electronic access means an arrangement between a Participant that is a member, user or subscriber and a client that permits the client to electronically transmit an order relating to a security or a derivative containing the identifier of the Participant:
direct electronic access means the access provided by a person or company to a client that permits the client to electronically transmit an order relating to a security to a marketplace, using the person or company’s marketplace participant identifier,
direct electronic access means the access to a marketplace provided to a client of a participant dealer through which the client transmits orders, directly or indirectly, to the marketplace’s execution systems under a participant dealer’s marketplace participant identifier without re-entry or additional order management by the participant dealer;