Tradeware Expands DMA to Mexican Stock Exchange

Ivy Schmerken, Wall Street & Technology

Tradeware Global Corp. has established an agreement with Interacciones Casa de Bolsa, among the largest Mexican brokers, to provide electronic direct market access (DMA) to the Mexican Stock Exchange through FIX connectivity.Interacciones, part of Grupo Financiero Interacciones, S.A. de C.V., has joined GlobalIX, Tradeware's broker-to-broker network, which enables brokers worldwide and their institutional clients to access global markets on an agency basis. Currently GlobalIX provides access to 48 equity markets worldwide.

Both companies said the deal would enhance global capital flows to and from Mexico.

Cody Callihan, Tradeware's VP, said in the release, "Historically, many of our member brokers have been limited to purchasing Mexican ADRs that lack liquidity." But Cody maintained in the release that GlobalIX's settlement processing has made trading in international markets, such as Mexico, as cost efficient as trading domestically.

"We are making it easier for U.S. broker-dealers to access true liquidity in Mexico. Since joining the network, we have seen an increased interest in the Mexican market, both equities and derivatives, and Interacciones stands ready to provide our expertise and best execution," stated Daniel Somuano, Interacciones' head of international sales, in the release. Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio