Last look protects market-makers and tight spreads
Panellists call for more transparency
Eliminating last look would force market-makers to build additional levels of protection into their prices to defend against predatory firms hitting their prices, as they could otherwise face the risk of being toppled as they stream to thousands of customers on multiple venues 24 hours a day, said panellists at the 12th FX Week USA conference.
Last look, the practice that gives market-makers the option to back out of trades within a certain time limit, has come under fierce scrutiny since the
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