DMALINK Expands Its Global Code, Focuses on eFX Market Makers

DMALINK, a provider of institutional FX trading services, announced on Monday the expansion of its global code of conduct order matching feature targeted at eFX market makers Market Makers Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Market makers or called dealing desk brokers represent a type of broker that internalize flows and are taking the opposite side of a transaction submitted by their clients. The market making broker is only quoting a feed of prices to its clients. These feeds may or may not be the exact same as the prices quoted on the interbank market.Any order a client enters is processed internally and never goes out to the market, except in rare cases where a market making brokerage identifies a client as a v Read this Term. The move follows a successful beta test of the service carried out in the first part of 2022.

The decision to comply with the code has been confirmed by selected counterparties, that took part in the trial run. Although the code is currently only voluntary, Michael Siwek, the Founding Partner and Global Head of Sales at DMALINK, thinks "it is a step in the right direction" and can guarantee additional benefits, including the implementation of such important metrics as a quote-to-order ratio.

In an effort to match the demand of institutional clients, the build-out of code-adhering market makers distinguishes categories based on regions and currencies.

"We are thrilled to officially launch the global code of conduct streams across our London and New York trading hubs. We are always working to improve the liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term provision for all platform participants, and over the next twelve months, we plan to broaden the parameters used to establish prudent liquidity utilization," Manu Choudhary, the CEO at DMALINK, said.

According to Ashwind Soonarane, the COO of DMALINK, the code of conduct will allow market makers and clients to work together and form a benchmark of sustainable eFX execution practices.

DMALINK Strengthens eFX Presence

The EM-focused institutional FX ECN has tried to strengthen its presence in the eFX in recent months. In September, DMALINK enhanced its emerging and developer markets currency presence, onboarding Crédit Agricole CIB to its FX platform.

Due to the newest partnership, Crédit Agricole CIB can guarantee its clients custom eFX pricing. The move was driven. by a surge in the buy-side demand.

In February 2022, DMALINK strengthened its advisory team by appointing Greg Myes and Thomas Soede.

They are responsible for building the company’s foreign exchange and digital assets footrprint.