NatWest Markets scraps last look hold time for e-FX
UK bank joins Citi, Goldman Sachs, Morgan Stanley and UBS in ditching controversial practice
NatWest Markets has become the latest liquidity provider to remove the additional hold time it placed on electronic spot foreign exchange trades that are subject to last look.
In the UK bank’s updated last look disclosure on January 28, NatWest now explicitly states that it no longer applies latency buffers when trading FX.
“We have removed the latency buffer that we had in place for a small number of client connections and updated our client disclosures accordingly,” says Chris Peters, head
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