Transaction Tax Bill has now been introduced

[tradersboredom]

i think that is what it's intended for like the minimum 25K to daytrade stocks in 2002.


daytraders are thinking too highly of themselves for being providing 'liquidity' stocks can move 50% up or 50% down in one day in no volume.

Quote from Anaconda:

Look at UK then. Did their volume drop by 60%?

Regardless, this is USA. This tax targets the daytraders & smaller funds. Look outside that world. This market runs on mutual funds handling pension money, large institutions running arbs and some large hedgies. And then you got the black boxes in the middle, run by the major bulge bracket firms.

They are not on your team, especially the market makers. With exemptions, they would support this tax, why wouldn't they.

 

[swtrader]

Quote from walter4:

This bill targets derivatives. About $500 trillion in derivatives trades alone in 2008--the most speculative of transactions. A one tenth of one percent tax would raise $500 billion dollars a year.


You are just collateral damage of this fairer system.

colateral damage and fairer system is an oxymoron

the key is CME

they DIDNT cause TARP

the didnt get TARP

they're NOT EVEN ON WALL STREET!!!

and they're GONE if this passes

Govmt farm price support programs will cost more with less liquid commoodity market, as well as government farm service programs

CME is the key to this - they have to at least be exempt

 

[tradersboredom]

this bill includes futures which have become a dominant force in the market. it's intended to destroy the CME casino

Quote from swtrader:

colateral damage and fairer system is an oxymoron

the key is CME

they DIDNT cause TARP

the didnt get TARP

they're NOT EVEN ON WALL STREET!!!

and they're GONE if this passes

Govmt farm price support programs will cost more with less liquid commoodity market, as well as government farm service programs

CME is the key to this - they have to at least be exempt

 

[tradersboredom]

it's a ban on abusive market manipulation by people with large sums of money.

and institutions don't appreciate shorts profiting from downside.

Quote from swtrader:

colateral damage and fairer system is an oxymoron

the key is CME

they DIDNT cause TARP

the didnt get TARP

they're NOT EVEN ON WALL STREET!!!

and they're GONE if this passes

Govmt farm price support programs will cost more with less liquid commoodity market, as well as government farm service programs

CME is the key to this - they have to at least be exempt

 

[Anaconda]

Quote from swtrader:


CME is the key to this - they have to at least be exempt

CME does not take positions, hence would not pay tax.

The tax will hurt those who flip the contracts. Those who actually take delivery or hold for longer periods would be ok.

It would definitely hurt volume, because too much of CME volume is just speculation.

But what would really kill CME is excessive default on delivery.

 

[walter4]

Quote from tradersboredom:

it's a ban on abusive market manipulation by people with large sums of money.

+1

 

[Cesko]

Quote from jaley:

the k200 is already in the us - interactive brokers offers it. the cftc approved it several months ago. maybe sfo should do some better research

Maybe you should do some research, yes it was approved. It doesn't mean you can trade it yet. Check IB's Globex offerings and tell me if you find k200 OK? Options on k200 are more ineresting anyway.

 

[PJT]

Quote from tradersboredom:

it's a ban on abusive market manipulation by people with large sums of money.

and institutions don't appreciate shorts profiting from downside.

LOL.

Who knew institutions never profit from short selling?

 

[FightTheFuture]

Quote from walter4:

This bill targets derivatives. About $500 trillion in derivatives trades alone in 2008--the most speculative of transactions. A one tenth of one percent tax would raise $500 billion dollars a year.


You are just collateral damage of this fairer system.

It's not going to raise $500 billion per year on derivatives. Looks like US stocks trade nearly the same dollar amount per year as derivatives do. At the proposed 0.25 percent, an RT on the ES would be $200. An RT on ZB or ZN would be $600. Intraday trading the way it is done now would cease.

The results, ZERO to negative revenue, would be the same for derivatives as it would be for stocks.


Derivatives are the most speculative?

The worst and most dangerous forms of speculation come from long term investors. They follow each other like sheep and lemmings.They trade like animals and act like animals with the same degree of intellect.

Two of the worst speculative bubbles and crashes were the 1929 stock market crash-with a 0.2% transaction tax-, and the current housing market crash.

 

[swtrader]

Quote from Anaconda:

CME does not take positions, hence would not pay tax.

The tax will hurt those who flip the contracts. Those who actually take delivery or hold for longer periods would be ok.

It would definitely hurt volume, because too much of CME volume is just speculation.

But what would really kill CME is excessive default on delivery.

are you DAFT?

must I connect the dots for you?

THey live on COMMISSIONS

take out people who trade the CME,

NO COMMISSIONS DUMBSHIT!!!!