Addressing the Global Code of Conduct and Last Look Policy

[kreslik.news]

This article was written by David Mercer, CEO of LMAX Exchange.

Previously, I touched on the issue of pre-hedging, or to more aptly name it, ‘Prehedgeosaurus’. Now we are going to take a closer look at ‘Lastlookosaurus’, otherwise known as Principle 17.

And so on to our old pal Lastlookosaurus who makes his glorious last stand in Principle 17. A nirvanic world where ‘last look’ is transparent and clients have the use of ‘last look’ disclosed. Yes this is the same beast that cast its shadow over most of the scandals in the last few years. The same beast currently ... (read more)