Tag: Principal 17

Principal 17

Does the Last Look Feedback Show a Shift in Industry Sentiment?

The Global Foreign Exchange Committee (GFXC) has published all responses to its request for feedback on the language set out in Principal 17 of the FX Global Code of Conduct, which looks at the practice of last look. The feedback has been published ahead of an expected decision by the GFXC over whether to change the wording and while it indicates a majority in favour of a strengthening of certain practices involving last look opinion is by no means universally in favour of change.