Definition of dat
dative
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Financial Definition of DAT
DAT
What It Is
Direct access trading (DAT) refers to any computerized trading system which connects traders to markets, thereby eliminating the need for a broker.
How It Works
Direct access trading (DAT) encompasses a variety of electronic trading tools and platforms which connect traders with other traders and with the actual markets (e.g. New York Stock Exchange (NYSE) and Nasdaq). These tools and platforms are computer-based and function on large high-speed networks.
Why It Matters
As a computer-based trading tool, DAT software is conducive to home-based usage on a personal computer with internet access. Moreover, by eliminating the need for brokerage involvement, DAT greatly reduces the transactions costs associated with trading. For this reason, DAT has become widely used by high-volume and day traders.
Source: Investing Answers
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