UK’s Investment Association Demands Transparency on ‘Last Look’ FX Trades

[kreslik.news]

The British Investment Association is calling on banks and broker to provide greater transparency, with regards to the reasons for pulling out of an FX trade at the last moment.

As it currently stands, Fund Managers are left to wonder what is causing some of the last-minute trade cancellations, as banks are not providing any information when such occurrences take place.

The new guidelines that were published today, require banks and brokers to specify the reasons for canceling a position, when the pullout takes place at the last moment. They must adhere to the guidelines and provide a reason from a pre-set ... (read more)