Credit Suisse and Commerz latest banks to ditch hold times

Mizuho also confirms zero last look add-on but MUFG’s policy unclear on the controversial FX practice

Hold-times-updates

Credit Suisse and Commerzbank are the latest liquidity providers to have removed the additional hold times they place on electronic spot foreign exchange trades subject to last look.

In Credit Suisse’s updated disclosure sheet, available on the Global Foreign Exchange Committee’s (GFXC) website, the bank states it “does not incorporate any delay that is additional to what is required to complete the price and validity checks” associated with last look. Its last look window “typically” lasts

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