How Does ‘Last Look’ Introduce Latency into the Execution Process?

'Last look' introduces a small, deliberate delay between the client's request to execute and the liquidity provider's final confirmation or rejection. This delay, often measured in milliseconds, is necessary for the provider to perform final price checks and risk management.

While short, this time window is a form of latency that allows for market movement, potentially leading to the quote being rejected if the price moves adversely for the provider.