Debelle: last look will not be banned

GFXC head says market participants have a choice of whether to use a liquidity provider that employs the practice

Guy Debelle: some of the largest firms have yet to sign up to the Code because they do not view it as a priority

The head of the industry body tasked with overseeing the FX Global Code of Conduct says last look will not be banned, despite some market participants apparently delaying signing the principles-based document because of the practice’s continued use.

“We aren’t going to ban last look. You don’t have to use last look. There are plenty of other providers who don’t use last look. You have a choice,” says Guy Debelle, chairman of the Global Foreign Exchange Committee (GFXC). 

Referring to the

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