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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.
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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. By getting last look the broker is able to often negotiate more favourable terms from its LPs.
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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]
Sep 9, 2015 · Many traders and brokers have been exposed to the terms “Last Look” and “No Last Look.” It seems though not everyone fully understands the terms or what they mean to traders and brokers...
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. This practice has been the subject of much discussion within the industry.
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Aug 20, 2021 · Reasonable people would probably respond with an unequivocal ‘no’, but last look does strange things to people – not least those liquidity providers who rely so much on the churn method, have under-invested in their pricing and risk technology, and seek to hold as little risk as possible for the shortest time possible.
Feb 26, 2024 · It is imperative for the FX industry to shift its perspective on the “last look” controversy. Instead of focusing solely on assumed advantages gained by liquidity providers, it is time to delve into the nuanced details that truly matter in pre-execution pricing.
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.
