Barclays discloses last look guidelines
Following US Justice Department interest, UK bank explains how and when it uses last look
Back in February 2015, the Fair and Effective Markets Review consultation sought to establish acceptable practices in wholesale markets – and especially in FX. One of them was the use of last look, which allows traders with information about customers' intentions to pull out from unfavourable trades at the last moment.
In March, the US Justice Department began looking into the use of last look in foreign exchange markets. Prosecutors, along with the Securities and Exchange Commission, asked
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