Voice of experience: Invast Global senior executive Geoff Last on Brexit related FX volatility

With 39 years of industry experience, Geoff Last has seen many events that have affected global markets. Here is his view on the Pound’s volatility post EU referendum.

Invast brexit

As the result of the UK referendum on the country’s membership of the European Union begins to be digested on both sides of the English Channel and reflected in the movements of the major currencies, the FX industry’s take on the forthcoming potential volatility in the markets is becoming clear.

Some of the largest companies in the FX industry are beginning to take a long term view, and having made prudent steps toward safeguarding their clients against potential negative balances by raising margin requirements, and in doing so also ensuring the stability of their commercial operations during the Brexit period, now the result is known and the Pound has begun to rapidly fluctuate in value against other majors, the perspective of highly experienced senior executives is vital.


Today, FinanceFeeds spoke to Geoff Last, Director of Institutional Liquidity Sales at Invast Global in Australia, who explained “We are not seeing the panic that we have seen follow past “surprise” events – mainly because the authorities seem to be proactive in helping smooth movements – but also because market participants have learnt their lessons from the past (most brokers raised margins and restricted position limits – most traders have themselves chosen to await stability/liquidity before reentering the market).

It shows a maturing of the industry. Overall we think we are likely to experience a period of opportunity, with currencies fluctuating across wide ranges as market participants take time analysing the implications for the UK and European economies. There have been few times in my 39 year career that have offered so much opportunity for traders” – Geoff Last, Director of Institutional Liquidity Sales, Invast Global, Australia.

Indeed, some very shrewd measures were taken by some of the most prominent companies in this industry. The British pound took a plunge during the very early hours of this morning, arriving at its lowest point in 31 years, after having risen yesterday to its highest value since pre-financial crisis 2008.

This is likely to be a temporary glitch, and indeed we are inclined to agree with Mr. Last’s perspective on how the period immediately after the referendum will manifest itself in the markets.

Read this next

Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

The Week Ahead: 30 September from David Madden, Market Analyst at Equiti Group

Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

Inside View

How does the quality of signal providers affect your business?

A must-have onboarding process for brokers with investment services like PAMM, MAM, or copy trading


DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.