1/4% Tax on all stock trades pushed in NY Times today

http://www.ft.com/cms/s/0/e82a3792-...l#ixzz2JRzl6U00 So even if both trading parties are outside the zone if the product is issued from within the zone or the HQ of your clearer is within the zone or the quoted product has 'a clear connection to a participating member state' or you live in the zone you get taxed unless you're a pension fund. Spot fx exempt. Goodbye day trading bund, bobl schatz, dax, eurostoxx, CAC, BTP, OAT even as Eurex's HQ is Swiss only SMI would be untaxed. 0.01% of underlying on the derivatives ie about 10 Euro, (per side or rtp?) FTSE, Gilt etc still viable and obviously American and Asian products. Milk em while they last!

<http://www.elitetrader.com/vb/showthread.php?s=&postid=3732782#post3732782>
 
Quote from justrading:


Indeed, what happened to the proposed U.S. legislation to bar collection of the FTT on French ADRs?
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If US politicians wont do anything, then US traders should.

I mean take up a court case and get charging of the French FTT by US brokers on french ADRs declared illegal.

Im not in america but i would still chip in something towards the cost. I know our fellow member, Mr Green, was fed up with just posting on the internet and wanted to do something more proactive in fighting the FTT, this issue could be a start if the US politicians aren't going to do anything.
 
Quote from FightTheFuture:

French FTT Fails To Reap Results In 2012
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According to this link, its pretty much inline with what they were expecting back in August?

http://euobserver.com/tickers/117134

02.08.12 @ 09:43
BY EUOBSERVER
France introduces its financial transaction tax on Thursday. A 0.2 percent tax will be levied on all publicly traded companies with a market value over €1 billion. French PM Francois Hollande says the tax will generate €170 million in additional revenue for 2012 and another €500 million in 2013.
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Quote from southall:

Status: Died (Referred to Committee)


Lets hope the Committee looks at this quickly then.
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This bill died in the last session of congress. It's going to have to be reintroduced as legislation in this new session of congress. Let's hope they bring it back.

Probably a good idea to e-mail the sponsor and cosponsors of the previous bill.

-Guru
 
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