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

If Belgium and Slovakia nix this then its gone - lets hope so. I guess we'll know in May? Seems the idea is to harmonize this world-wide so that big brother shoves it down all our throats. I still fail to see what the retail trader in the futures market does to contribute to the efficiency of the markets though - I am such a small player. Somehow I think the world would go on without day traders, however I hope and pray this tax never happens here. Maybe with a (dysfunctional) republican administration we are safe for a few more years anyway. Here's another article to muddy the waters more.

https://www.bloomberg.com/news/arti...-tax-plan-lives-on-in-german-french-elections
 
Looks as though the conservatives have just lost to labour, with jeremy corbyn at the helm london is looking at the extension of the 0.5% stamp duty to all derivatives and bonds.
 
Under the plans, financial institutions would pay a levy of 0.2% on derivatives transactions, and non-financial institutions would pay 0.5%.

Labour would also lift the current stamp duty exemption on 'market makers' or intermediaries such as hedge funds. Currently, institutions which provide market liquidity by being able to buy securities from individuals and professional corporate bodies can claim relief on all their share purchases.

Labour shadow chancellor John McDonnell told Sky News at the weekend the proposed FTT was a “small transactional tax” which would help fund public services.


London is over.
 
sheda said:
Looks as though the conservatives have just lost to labour, with jeremy corbyn at the helm london is looking at the extension of the 0.5% stamp duty to all derivatives and bonds.
More...

This will encourage more people to use CFDs to bypass expensive stamp fees. It is ridiculous. Other countries have zero or low stamp fees. Who do they think they are? Brexit has already made UK less desirable as a financial hub. Yet, they don't think of ways to lower cost for investors?
 
Last edited:
Cfds are being wiped out with heavy restrictions on leverage and the fft will be applied to the notional value of the cfd, as said, london is over.
 
sheda said:
Cfds are being wiped out with heavy restrictions on leverage and the fft will be applied to the notional value of the cfd, as said, london is over.
More...

I don't think the British are so stupid as to commit suicide. This will not pass. I can understand why Brexit went through. The immigration policy is hard to tolerate when the pace of new faces, new culture is too fast. Harming their financial hub advantage is suicide. The British are too smart for that.
 
The stamp fee is already a form of financial transaction tax. At 0.5%, it is Europe's highest! Much higher than the French(0.3%) and Italian(0.2%) one. European investors will move to German and Swiss stocks as they have zero ftt. European financial hubs will probably move to Germany or Switzerland as a result. I am relieved there is no ftt in U.S and Asia.
 
Yes, the stamp duty on shares is the highest in europe and they intend to apply it to every financial instrument which in turn will make europes mission easier.
 
sheda said:
Yes, the stamp duty on shares is the highest in europe and they intend to apply it to every financial instrument which in turn will make europes mission easier.
More...
Europe's mission?
This must be due to Trumpy making ya'll finally pull your weight in NATO.
 
You must log in or register to reply here.
Back
Top