Risk Management Hampers International DMA

The U.S. regulator is currently in the midst of a study started more than a year ago, dubbed the International Organization of Securities Commissions (IOSCO) Direct Market Access project, that examines the risks associated with DMA.

Although the final report won't be out until early next year, there are certain risk factors and risk management needs that have clearly emerged from the information gathered to date from global exchanges and intermediary firms, according to Robert Rosenfeld, deputy

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