# Firm Order Book

### What is a firm order?

It is an order that is not subject to cancellation or alternatively “no last look”. In simple terms, it's the level that the market maker will provide liquidity to a counterparty. 

### What is a last look?

"Last look" is a practice in financial trading where liquidity providers can review and potentially reject a trade before it's executed.

### Why "no last look" is beneficial for me?

Since the order is not subject to rejection, you can predict the result of your execution. Thus, you are less likely to end up in an instance of a loss due to market moves. 

### How does Finery Markets differ from my current OMS (Order Router) or Multiple Integrations?

1. Finery Markets is cost-effective and has a better quality of execution compared to Multiple Direct Integrations. Maintaining multiple integrations results in high infrastructure and back-office costs. Liquidity providers also reserve the right for the “last look”, allowing them to reject orders at will.
2. OMS or Order Router rely on indicative quotes which don’t necessarily ensure predictable execution, leading to increased slippage. Moreover, the liquidity sources may reserve the right for the “last look”

Liquidity providers stream firm orders to Finery Markets and the platform acts as the execution venue. Finery Markets offers transparent & predictable execution across all liquidity providers with minimal slippage.

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