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

Quote from pbb:

Define "computer driven strategies", that could be any form of automated trading.
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I was thinking the same. "High Frequency Trading" could easily be loosely defined (by government) as anything that generates orders using an automated process. Many people outside the industry does not know (or recognize) where these concepts differ.
 
Quote from BA_Trader:

For all of you US futures traders... Carl Levin recently introduced a bill in the senate that will eliminate the 60/40 cap gains treatment on section 1256 contracts..

Language from the bill:

"any gain or loss with respect to a section 1256 contract shall be treated as short-term capital gain or loss,"

http://www.govtrack.us/congress/bills/113/s268
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Looks like this bill also wants to close the carried interest loophole as well.
 
I am more and more concerned they will just add market maker/ internalizer exemption on a national basis just like in France and the only guy screwed will be the little guy.

Remember... Even a FTT paid by everybody is better than a FTT with exemptions system. If FTT is paid by everybody, spreads widen but you can still compete with the big boys, long term investors/hedgers pay the bill... If there are market makers exemption, it's the end for independant traders, Hedge funds and prop firms. The guy who can't obtain MM status is definitely out. Those who can get it( banks) would become incredibly profitable, big banks would send Champagne to Semeta every christmas...
 
Have you noticed the new italian FTT does apply to CFDs of underlying shares as well ? It's also expected to affect other italian derivatives from July 1st.

It will be intersting to follow how it affects the italian market - while trading elsewhere :eek:
 
Quote from TraDaToR:

I am more and more concerned they will just add market maker/ internalizer exemption on a national basis just like in France and the only guy screwed will be the little guy.

Remember... Even a FTT paid by everybody is better than a FTT with exemptions system. If FTT is paid by everybody, spreads widen but you can still compete with the big boys, long term investors/hedgers pay the bill... If there are market makers exemption, it's the end for independant traders, Hedge funds and prop firms. The guy who can't obtain MM status is definitely out. Those who can get it( banks) would become incredibly profitable, Semeta would receive Champagne from big banks every christmas...
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Tradator, I mentionned this once already, but a way to go for EU based traders will probably be trading through a corporation based elsewhere, possibly in a different EU country. I expect more set ups will become available and promoted, legal ones included
 
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