FastMatch updates last look procedure
The ECN is the latest to make changes
Trading platform FastMatch is the latest foreign exchange venue to tweak its rules on last look liquidity, only weeks after three of its rivals announced similar changes.
In a note to clients from chief executive Dmitri Galinov, FastMatch clarified the two types of liquidity received by clients on the platform – order driven and quote driven (last look) – while stating they can choose which one to interact with.
"Order-driven liquidity resides on the FastMatch book and is executed immediately
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