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.

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. 

With IG

Our share dealing service searches two market makers for the best at quote prices, as well as dark and lit order books for the best on exchange prices. It then displays the best possible price at which a trade can be made.

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