Breaking: Thomson Reuters Officially Confirms GBP/USD Lowest Spot Rate
- Brokers which have executed at lower rates are rushing to reassure their clients.
Thomson Reuters has officially confirmed that the absolute lowest point for the trading day this Friday on the GBP/USD pair was 1.1491. The company has issued a statement outlining that the trades executed via the company's Thomson Reuters Matching product were at their lowest point at 23:07 GMT on the 6th of October (00:07 UK time).
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GBP/USD Chart, Source: Thomson Reuters
Various reports about controversial order execution points have been pouring in with some broker's lowest ask prices ranging below 1.1000 and above 1.2000. Typically thin Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term during the hours between the market close in New York and the market open in Tokyo has exacerbated what seems to be a 'flash crash' across sterling pairs.
Aggressive algorithmic trading appears to also have contributed to the massive drop in sterling from just above 1.2600 towards the 1.1491 low within 2 minutes.
"Thomson Reuters also publishes Daily Market High and Daily Market Low levels that indicate the high and low traded prices traded for a good amount. For GBP/USD an amount of GBP 5 million has to trade within a 3-minute window for the high or low to be set. This low was 1.1500 and happened around the same time as the absolute low," the company elaborated in its statement.
Brokers which have executed at lower rates are rushing to reassure their clients, while actively seeking explanations from their Liquidity Providers Liquidity Providers A liquidity provider (LP) constitutes either individual and/or institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as the both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profi A liquidity provider (LP) constitutes either individual and/or institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as the both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profi Read this Term about the lower order fill rates.
Thomson Reuters has officially confirmed that the absolute lowest point for the trading day this Friday on the GBP/USD pair was 1.1491. The company has issued a statement outlining that the trades executed via the company's Thomson Reuters Matching product were at their lowest point at 23:07 GMT on the 6th of October (00:07 UK time).
The FM London Summit is almost here. Register today!
GBP/USD Chart, Source: Thomson Reuters
Various reports about controversial order execution points have been pouring in with some broker's lowest ask prices ranging below 1.1000 and above 1.2000. Typically thin Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term during the hours between the market close in New York and the market open in Tokyo has exacerbated what seems to be a 'flash crash' across sterling pairs.
Aggressive algorithmic trading appears to also have contributed to the massive drop in sterling from just above 1.2600 towards the 1.1491 low within 2 minutes.
"Thomson Reuters also publishes Daily Market High and Daily Market Low levels that indicate the high and low traded prices traded for a good amount. For GBP/USD an amount of GBP 5 million has to trade within a 3-minute window for the high or low to be set. This low was 1.1500 and happened around the same time as the absolute low," the company elaborated in its statement.
Brokers which have executed at lower rates are rushing to reassure their clients, while actively seeking explanations from their Liquidity Providers Liquidity Providers A liquidity provider (LP) constitutes either individual and/or institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as the both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profi A liquidity provider (LP) constitutes either individual and/or institution that functions as a market maker in a given asset class. Broadly speaking, liquidity providers will act as the both the buyer and seller of a particular asset, thus making a market. In the equities space, many stock exchanges rely on liquidity providers who make the commitment to provide liquidity in a given equity. These liquidity providers commit to providing liquidity in the hopes that they will be able to make a profi Read this Term about the lower order fill rates.