Hold times collapse on EBS Direct as LPs cut last look

Hold times down 67% and reject rates drop to 3.15%, as FX Global Code of Conduct forces liquidity providers to step away from last look

seth-johnson-brokertec
Seth Johnson: "…the Code is creating greater openness and a sea change in behaviour for the better”

Average hold times on EBS Direct have dropped to 37 milliseconds among the top 10 liquidity providers on the platform – 61% lower than 18 months ago – as market-makers cut the use of last look on the bilateral platform, a report from owner Nex Markets shows.

According to the paper, The FX Global Code: changing transparency and behaviour, reject rates across the top 10 market-makers have also fallen to 3.15%, down 41% compared with a year and a half ago. The decline in rejects has led to more tr

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week 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: