Hold times collapse on EBS Direct as LPs cut last look
Hold times down 67% and reject rates drop to 3.15%, as FX Global Code of Conduct forces liquidity providers to step away from last look
Average hold times on EBS Direct have dropped to 37 milliseconds among the top 10 liquidity providers on the platform – 61% lower than 18 months ago – as market-makers cut the use of last look on the bilateral platform, a report from owner Nex Markets shows.
According to the paper, The FX Global Code: changing transparency and behaviour, reject rates across the top 10 market-makers have also fallen to 3.15%, down 41% compared with a year and a half ago. The decline in rejects has led to more
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