Day: 8 May 2017

FastMatch: Last Look Gone in Two Years

Although Dmitri Galinov, CEO of FastMatch, defends the controversial practice of last look in FX, he also claims that it will be eliminated within the next two years.

Explaining why last look has become such a hotly debated topic within the FX industry, Galinov explains that it is “a valuable tool” that enables liquidity providers to quote tighter prices to their customers.

The problem, as he puts it, is that “consumers want tighter prices but they don’t want last look”. For now, however, the two appear to be mutually exclusive, which is why this is a difficult issue for the industry to solve.

And Finally…

I suppose it was inevitable really…the feeding frenzy that has attracted so many sharks – by which of course I mean lawyers – has apparently led to internecine warfare. According to a report, a third law firm has convinced BlackRock, Pimco and BlueCrest Capital Management to join another class action lawsuit against the banks over benchmark manipulation. The problem is the two law firms currently organising a class action in the US don’t like it – apparently they don’t like sharing their lunch.