Closing the Gap

In the financial services industry, another stark contrast exists: this summer, the first brokers started offering full direct market access (DMA). By doing so, they find themselves catering to two very different constituents - advanced, statistical-arbitrage foreign hedge funds on the one hand, and local buy-side firms on the other, many of whom do not even use rudimentary order management systems.

Clearly it's not the first time Indian brokers have catered to foreign firms - India, as one of

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