FX Focus - Look back in Anger

In the current climate, the last thing the FX industry needs is to be the centre of another financial markets scandal. The energy and resources of dealer banks are already being sapped by multiple investigations into allegations of benchmark fixing, but they may have to brace themselves for further scrutiny as concern grows over the use of so-called ‘last look' protocols.

"The market, especially participants on the buy side, needs to be more aware of what is going on here," says the head of