RBC Capital Markets: all e-FX trades subject to last look

The bank commits to FX Global Code of Conduct and publishes Ficc client notice

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Last look checks: RBC Capital Markets says it applies hold times of 0–100 milliseconds

RBC Capital Markets (RBCCM) has published a notice to clients outlining its practices in fixed-income, currencies and commodities trading (Ficc), which states all electronic FX trades are subject to last look checks with holding periods ranging between 0 and 100 milliseconds.

The bank, which formally committed to the FX Global Code of Conduct on February 28, says its implementation of the last look functionality allows it to quote and maintain tighter bid/offer spreads for its clients as a

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