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- The term last look simply means that a Liquidity Provider “LP” has the opportunity to reject a trade within a given time interval. No last look simply means once an LP gives a price quote it must accept the trade on it.
www.financemagnates.com/executives/insights/last-look-vs-no-last-look-execution/
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Last look is a trading practice where the liquidity provider (LP) provides a quote rather than a firm price into the trading system or execution venue. Last look venues are often used to conduct trading on foreign exchange markets (FX) for retail foreign exchange trading. [1]
The term last look simply means that a Liquidity Provider “LP” has the opportunity to reject a trade within a given time interval. No last look simply means once an LP gives a price quote it must accept the trade on it. By getting last look the broker is able to often negotiate more favourable terms from its LPs.
“Last look is designed to facilitate timely credit checks and validation of prices and inventory.” Last Look is fair when it is purely symmetric. It is normal for a liquidity provider to check that a proposed price remains within the tolerance range and does not lose money from stale prices or latencies.
- Paul Golden
Sep 9, 2015 · Last look execution allows liquidity providers to reject an order within a specified time period if the trade is regarded as unfavourable, even if a customer has hit the requested price,...
Last look is a practice utilised in Electronic Trading Activities whereby a Market Participant receiving a trade request has a final opportunity to accept or reject the request against its quoted price.
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May 21, 2014 · Last look in Forex is simply the ability for the liquidity provider filling your trade to reject your order, although you might already have hit his price. For example, liquidity provider A (LP A) places a BUY limit order at 1.3500 for EURUSD for 10 lots. You decide to Market SELL 10 lots of EURUSD on your trading platform.
Aug 20, 2021 · Last updated: August 20, 2021. The FX Global Code, as its founders were keen to stress, is a living, breathing document and the most recent three-year review of the Code exemplifies the Global Foreign Exchange Committee’s approach.
