FastMatch updates last look procedure

The ECN is the latest to make changes

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Trading platform FastMatch is the latest foreign exchange venue to tweak its rules on last look liquidity, only weeks after three of its rivals announced similar changes.

In a note to clients from chief executive Dmitri Galinov, FastMatch clarified the two types of liquidity received by clients on the platform – order driven and quote driven (last look) – while stating they can choose which one to interact with.

"Order-driven liquidity resides on the FastMatch book and is executed immediately

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