Finamex, a Mexico-based broker-dealer, has implemented proximity direct market access (DMA) services for trading on the Bolsa Mexicana de Valores (BMV), the domestic Mexican stock exchange.
Clients of Finamex will now be able to trade futures, equities and options directly on BMV and place their trading engines as close to the exchange as possible to minimise the latency incurred by geographical distance when sending orders to the exchange.
According to Finamex, its DMA proximity gateway will entice more high frequency traders to the Mexican exchange. Connectivity to the market will be available via more than ten vendors and market data will be disseminated in real time over a FIX network.
All pre-trade risk and other validation models will be supervised by the Mexican regulatory body.