Last look
Why last look needs a new look
Insufficient LP disclosures leave fund managers in the dark on pre-trade costs, says BidFX’s data head
Why GTS bought HC Tech’s FX business
Rubenstein and Rosenwald open up on reasons for the deal – plus US lawsuit and culture questions
Fast LPs accuse rivals of maxing out last look response times
Firms with sub-10ms checks complain of losing volumes to slower rivals, prompting one to ditch ECNs
US court greenlights most claims in Currenex class action
Civil lawsuit brought by XTX and two other financial firms advances to next stage before trial
BNPP, BofA and Nomura ditch last look add-on
Majority of top 25 LPs have now removed hold times as regulators step up scrutiny of controversial practice
Disclosed FX venues could be next to demand code compliance
Pressure mounts on trading houses to follow anonymous platforms and make compliance mandatory
GFXC to entice buy-side code adoption with ESG tie-ups
Rating agency partnerships would link FX code adoption to ESG scores
New year, new disclosures: more banks publish GFXC cover sheets
A further swath of banks ditch controversial additional hold times
Euronext is latest venue to demand FX code compliance from LPs
From January 1, anonymous spot liquidity pools across the ECN will automatically switch to code compliant only
BNY Mellon, NAB and RBC latest to ditch additional hold times
Banks join growing list of LPs to have scrapped the controversial practice
State Street is latest LP to publish a GFXC disclosure sheet
More liquidity providers expected to publish disclosures this week following GFXC deadline
Will last look disclosures come to FX derivatives?
JPM and NatWest have published their swaps and options last look windows – will others follow suit?
Almost half of top LPs yet to publish GFXC disclosures
FX market disclosure remains patchy, fuelling buy-side concerns over transparency
One by one, dealers embrace standardised FX reject codes
Investment Association’s proposed codes finally begin to take hold after Covid setbacks
Barclays scraps additional hold time on last look
With more disclosures expected this month, list of LPs ditching controversial add-on continues to grow
Credit Suisse and Commerz latest banks to ditch hold times
Mizuho also confirms zero last look add-on but MUFG’s policy unclear on the controversial FX practice
New GFXC chair aims to keep up reform on last look
SNB’s Andréa Maechler urges more liquidity providers and trading venues to address hold times
NatWest Markets scraps last look hold time for e-FX
UK bank joins Citi, Goldman Sachs, Morgan Stanley and UBS in ditching controversial practice
Cboe to cut FX trading response times in half
Incoming policy will give liquidity providers 35 milliseconds to review last look orders
Direction of travel on last look becomes clear
Hold time holdouts likely to fall into line in face of increased regulatory scrutiny
Citi drops last look hold times for e-FX
Bank joins Goldman Sachs, Morgan Stanley and UBS in ditching controversial practice after GFXC clampdown