Last look add-on is disappearing. Is that good for the market?
Views diverge on whether removal of additional hold times will benefit FX liquidity consumers
The part of last look that has given the practice a bad name appears to be on its last legs.
Following comments by the chief standard-setter in the foreign exchange market, a number of spot FX liquidity providers (LPs) say they are considering giving up additional hold times on either disclosed or anonymous venues, or both. This could have several different effects on the market, and market participants disagree on whether liquidity consumers will ultimately be better-off.
One consequence many
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