The move by Refinitiv to a 5ms data feed on its Spot Matching platform has grabbed Colin Lambert’s attention this week, leading him to call for an open debate in the FX industry over the length of last look windows. With both primary venues at 5ms, is it now the time for platforms to step up and impose a ceiling on hold times? Equally, will this move highlight the “good” LPs from the bad?

There’s time for a quick note on this week’s month-end Fix before P&L’s editor-in-chief Julie Ros takes over to talk to Justin Slaughter, partner of Mercury Strategies and Managing Partner of law firm Justin Slaughter PLLC, about a rash of US rule making last week. Slaughter highlights what he observes are the controversial and major changes to the Volcker Rule and Reg AT in particular, but also points out that all of this work could be for nothing depending upon what happens in the US election in November. 

The interview closes with what Slaughter describes as an unusually well-attended congressional hearing on a “Digital Dollar” last week – an event that illustrated what he terms “the illusion of consensus” in Washington DC over the subject.