XTX Markets moves to Zero Hold Time model

XTX Markets has announced it is now operating a ‘zero hold time’ (ZHT) model in its application of last look to its FX counterparty businesses.

First Published by e-Forex News: September, 2017

Zar Amrolia
Zar Amrolia

XTX Markets has announced it is now operating a ‘zero hold time’ (ZHT) model in its application of last look to its FX counterparty businesses.

Zar Amrolia, co-CEO of XTX Markets, commented: “With recent improvements in technology and market data, we believe that it is hard to justify the use of a latency buffer in pricing. All direct counterparties of XTX Markets now enter into transactions either on a ‘Non Last Look’ or a ‘Zero Hold Time’ basis with no latency buffer. We are encouraged that other top tier liquidity providers are working on a similar approach and that there are ECNs working on moving the price check away from LPs onto neutral venues (i.e ‘hosting’ the last look function).”