On exchange definition

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On exchange has a particular significance in relation to IG's platform. Here, we define on exchange in general investing and explain what it means to you when trading with IG Bank.

On exchange is a term used to mean that a trade is taking place directly on an order book. It differs from at quote, which is a trade made at the price quoted by a market maker.

DMA, or direct market access, is one way of trading on exchange: allowing you to see the various prices offered on an exchange and identify which prices are best for you. 

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