GCC: the ‘likely’ definition of Principle 17

The last look battleground hinges on the wording of the practice

conduct-trendline
The question: whether trading activity that uses client request information is likely inconsistent with good market practice

The latest battleground in the last look war is language: whether pre-hedging in the last look window is effectively banned now hinges on the word ‘likely’, even though the latest version of Principle 17, which defines good market practice for last look, does not contain the term.

Until recently, the wording of the paragraph relating to the use of information gleaned from clients’ trade requests during the last look window included the phrase pre-hedging. In the latest draft, this is no longer

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: