XTX sounds death knell for last look
The NBLP launches new analytical tool, which Jeremy Smart says will make last look obsolete
XTX Markets has released a set of analytical tools that allow counterparties to quantify the impact of trading with each of their liquidity providers (LPs) and put a dollar amount on execution costs – a development the LP claims will end the use of last look.
The free tool, dubbed XTX-ray, analyses trades based on spreads, round-trip times and fill ratios, as well as quantifying the dollar cost of rejects – defined as the amount by which the market mid-price moved between the time of sending
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 - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
More on Liquidity Risk
Stable relationships still vital in FX, say asset managers
Accessing liquidity when needed is more important than price, according to buy side
Cboe FX unveils new relationship trading platform
Market participants can source top liquidity directly with no fees on Cboe FX Point
Liquidity the biggest hurdle for traders in 2019 – JP Morgan survey
E-trading poll of 200 institutional traders highlights impact of Mifid II
Citadel Securities: algo trading to rise, buy side seeks broader liquidity provision
As TCA metrics highlight the benefits of non-bank liquidity provision, Citadel Securities expects more participants will be drawn to its offering
BestX: FX Code may bifurcate liquidity in 2018
This could lead to venues having to manage multiple liquidity streams
Last look times should reflect faster data, say panellists
Risk warehousing timeframes have shrunk; market-makers no longer divided into banks and non-banks
Growth of NBLPs thwarted by credit structure, platform heads say
Alternative LPs look to do more relationship-based trading rather than streaming prices anonymously
Best FX Liquidity Provider and Most Innovative Liquidity Source: XTX Markets
The London-based market-maker emerges as a serious contender for the biggest share of FX
