Insight Investment wary of banks’ last-look claims

Buy side should “team up” in bid for more forex transparency, argues senior trader

fx-last-look-divergence

Insight Investment has urged buy-side firms not to take on trust the disclosures made by foreign exchange dealers – and to “team up” in an attempt to extract more useful information.

Richard Turner, a senior trader at the giant asset manager, said technology could be used to test claims about the length of last-look windows, for example – the controversial, milliseconds-long pause when a dealer decides whether to accept or reject a client’s order.  

“If a bank says our last look policy is 200

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