Call for clarity on last look rejections

Asset managers say holding periods “far in excess” of what is necessary for risk checks

Last look: let’s go back to basics and come up with a clear definition, say panellists

While some improvements have been made with regard to transparency during the milliseconds-long last look window, asset managers still feel it’s often unclear whether a trade has been rejected due to risk-control checks or for another reason.

Hugo Gordon, a policy specialist for capital markets at The Investment Association, which represents UK asset managers, said: “There is general recognition that last look does have valid risk-control purposes.” But he added: “The problem for a lot of our

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: