‘Last look’ practice hurts profits, say tech vendors
Panellists at the FX Week Europe conference argue 'last look' is not helping the market to price clients realistically as margins continue to be squeezed
Technology vendors have blamed 'last look' for distorting the price at which banks provide services to their clients in the foreign exchange market and said the practice is likely to be next in line on the regulator's checklist.
Speaking at the FX Week Europe conference in London on November 26, panellists raised the issue of the paradox between cheap markets and the rising cost of servicing clients in the new regulatory environment, with some arguing for a change to market spreads to factor in
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