What Is "Last Look" and How Is It Sometimes Used in OTC RFQ Markets? ▴ Learn

What Is “Last Look” and How Is It Sometimes Used in OTC RFQ Markets?

"Last look" is a practice where a liquidity provider (LP) has a final, short window of time after a trade request is sent to them to accept or reject the execution at the quoted price. In OTC RFQ markets, it is sometimes used to protect the LP from adverse selection caused by stale quotes or sudden market movements.

However, it is controversial as it allows the LP to reject trades that have become unfavorable to them, potentially harming the liquidity seeker.

What Is ‘Last Look’ and How Is It Related to the RFQ Trading Model?

How Does the “Last Look” Mechanism Function in an RFQ Environment?

How Can a Reentrancy Guard Modifier Offer a Simpler Alternative to This Pattern?

What Role Does ‘Last Look’ Functionality Play in Assessing Quote Competitiveness in OTC Derivatives?