Bank of England Joins Critics of ‘Last Look’ in Currency Trading
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The Bank of England has added its voice to calls for greater scrutiny of the “last look” in currency trading, questioning whether the practice should be allowed to continue.
The BOE said that last look, part of a Justice Department investigation into Barclays Plc, is vulnerable to abuse. The practice enables brokers to re-examine their trades shortly before they are executed, allowing them to reject orders that would lose them money.