Category Archives: liquidity

EuroMoney 2018 FX Survey…Go XTX!

EuroMoney 2018 FX survey results released this week show JPMorgan are for the first time #1 in FX, but the real story is the absolutely astonishing performance from XTX Markets, now ranked #3 in global FX. XTX Markets are the … Continue reading

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RIP….Last-look? Depends who you ask

Back in 2015, just before the publication of the Fair and Effective Markets Review (FEMR) report, that led to the FX Global Code of Conduct, I wrote that it was time to Say goodbye to last look. A few months … Continue reading

Posted in FX Survey, liquidity, regulation, Uncategorized | Tagged | 1 Comment

How the network effect is solving challenges in bond liquidity

The fixed income landscape is very fragmented, at last count there were around 137 fixed income venues (according to John Greenan’s blog post). Reduced balance sheets due to Basel III, and lower leverage ratios have resulted in sell-side firms losing their … Continue reading

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Say goodbye to ‘last-look’ in FX?

It’s about time, that the practice in FX of liquidity providers having a ‘last look’ before accepting a trade – a legacy from the old days of phone quoting, when the dealer took one ‘last look’ at pricing before accepting a trade … Continue reading

Posted in liquidity, Opinion, regulation, Uncategorized | 1 Comment