Goldman Sachs discloses max last look hold times in FX
Past behaviour may subject clients to a 200 millisecond hold period, as US bank tries to avoid losses
Goldman Sachs has disclosed it applies ‘speed bumps’ or hold times in the last look window of up to 200 milliseconds on electronic foreign exchange spot trades, where the client trades in a manner that could expose the bank to losses.
In a disclosure that appears to have been finalised on January 18, the US bank says it applies the hold periods – based on a customer’s trading history – to guard against the risk that prices start moving against the bank. Beyond a threshold price move, Goldman
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