FastMatch to penalise liquidity providers that impact market
The changes, taking effect in the third quarter, aim to push away those who move the market after receiving an order
FastMatch will be adding a new variable to its rules in the third quarter of this year, which could result in a price penalty for liquidity providers who move the market, FX Week has learned.
Currently, the foreign exchange platform takes into account three variables when it determines which liquidity providers are best for customers to trade against – the price quoted, the historical response time and fill rates. The venue will soon introduce a fourth: market impact.
"We will look to see if
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