Panel speakers clash on last look viability
At the FXIC conference in New York
Foreign exchange market participants disagreed on the effect that last look has on the overall marketplace after the UK's Fair and Effective Markets Review (FEMR) stated that legitimacy of last look in FX has to be examined.
Speaking at the FXIC New York conference on June 12, FX platforms defended the practice, citing client satisfaction with trading on ‘non-firm' liquidity and the need for banks to manage their risk between multiple venues in an over-the-counter, fragmented market such as FX.
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