oneZero sweetens offering with insights into impact of ‘last look’ practice

abdelaziz Fathi

oneZero Financial Systems, a provider of brokerages and trading technology, has introduced a new analytics tool that provides a glimpse into the use of one of FX market’s most ‎common, and potentially abusive, practices.

The ‘last look’ allows market makers ‎get a final opportunity lasting a few milliseconds to reject an order after a client ‎commits to a trade at a quoted price. ‎

oneZero’s last look insights are available in its Data Source Insights product. In essence, it increases transparency for liquidity consumers on the other side of a trade who are now able to compare the reject rates at liquidity providers on a relative basis.

The data-driven approach calculates the estimated economic impact of trades rejected in a last look protocol, effectively creating a framework where sustainable relationships can be identified more easily. It helps users better understand the relationship between “the type of flow they send to LPs, quoted spreads and the impact of last look rejections when constructing their pricing and hedging functions,” the company said.

The level of FX counterparties using the ‘last look’ method has fallen since the introduction of the Global FX Code of Conduct. Most recently, the independent committee indicated that liquidity providers and platforms shouldn’t undertake any trading activity that uses information from a client’s trade request during the last look window.

oneZero’s intelligence solution creates reports and diagrams based on unique metrics and parameters. The standard package provides basic insights such as fill times at a liquidity provider based on a source of flow, size and/or currency pair. This data should be enough for the LP customers to estimate when and for how long the last look may be taking place.

Meanwhile, the advanced package takes a step further by enabling users to compare LPs with different last look approaches. The symmetry between hold times and reject rates helps clients in making their liquidity choices as they become aware of the impact of the last look rejection on trading costs, such as the spreads.

oneZero CEO and co-founder Andrew Ralich commented: “oneZero plays a critical role in the market as a counterparty-agnostic technology provider. Last look analytics will provide better information that will lead to more informed outcomes for our clients and the whole market. This is especially important at a time when the industry is focused on the development and fair and effective usage of the last look process.”

Just a few months ago, oneZero announced a series of fresh updates to its Liquidity Hub, which presented new features geared toward improving the capabilities offered by the platform to institutional and B2B clients.

In particular, oneZero rolled out new multi-asset capabilities to its product which provide a means for broker-dealers and market makers to optimize their liquidity and client pricing. The new upgrades improve the user experience and expand control functions for their clients operating in the institutional and retail FX, commodities and futures markets.

oneZero has already been highly active with multiple initiatives and several developments that have dominated headlines over the past few months.

Read this next

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Bybit expands into Europe amid regulatory scrutiny

Dubai-based cryptocurrency exchange Bybit is expanding its operations in Europe after encountering regulatory challenges in Hong Kong.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

<