DMA.  A system of trading that allows buy-side firms to have easier access to liquidity, and allows them more control over their trades.  Benefits of DMA include that less work is required to be done by the broker, and transactions costs (such as commissions) are lower for the firm.
Related information about direct market access:
- Direct market access - Wikipedia, the free encyclopedia
 Direct market access (DMA) is a term used in financial markets to describe   electronic trading facilities that give investors wishing to trade in financial   instruments ...
 
- Direct Market Access (DMA) Definition | Investopedia
 This refers to electronic facilities, often supplied by independent firms, that allow   buy side firms to access liquidity for securities they may wish to buy or sell.
 
- Direct Market Access - London Stock Exchange
 DMA allows you to take greater control of your trades by using a broker to place   your orders directly on the central market along with all the other market ...
 
- SEC Limits Direct Market Access - Davis Polk & Wardwell
 Nov 5, 2010 ... SEC Limits Direct Market Access. Introduction. On November 3, 2010, the SEC   adopted Rule 15c3-5, which effectively prohibits “naked access” ...
 
- Direct Market Access News : Automated Trader
 Direct Market Access News. Morgan Stanley connects to ASX Centre Point Block.   November 08th, 2012 - Morgan Stanley Australia Securities offers Direct ...
 
- Direct Market Access
 Direct Market Access - more about DMA. Trial the Direct Market Access platform,   master the art of DMA trading. City traders profit from DMA platforms by...
 
- Direct Market Access (DMA) | BM&FBOVESPA
 The Direct Market Access (DMA) model allows end customers to have direct   access to the Exchange's electronic trading environment. This access is granted   by ...
 
- Direct market access | TheTradeNews.com
 Morgan Stanley's Australian arm will now offer direct market access connectivity   to the Australian Stock Exchange's Centre Point Block. read more>. November ...