Morgan Stanley and UBS remove FX hold times, new disclosures reveal

Goldman Sachs follows suit in new GFXC cover sheets, but NatWest Markets holds on

Trading time

Morgan Stanley and UBS have dropped additional hold times from their last look checks for foreign exchange spot trades, as revealed by the first wave of new trading disclosure sheets published on the Global Foreign Exchange Committee’s (GFXC) website.

Goldman Sachs has also confirmed it has no hold times, but NatWest Markets says it is keeping its in place.

Last look broadly comprises two parts: a price validity and credit check. Many liquidity providers (LPs) had also placed an additional

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