Wed, Nov 25, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Dutch participants think the financial transaction tax is a political statement

Friday, March 15, 2013

Patrick van de Laar
Benedicte Gravrand, Opalesque Geneva:

In January, The European Commission, the EU's executive arm, gave its accord to 11 member countries to go ahead with a planned Financial Transaction tax (FTT). The countries in question are Germany, France, Spain, Italy, Belgium, Estonia, Greece, Austria, Portugal, Slovenia and Slovakia. The proposal for an FTT was originally adopted by the European Commission in September 2011 but stalled due to an initial lack of support. Plans for the implementation of the FTT were outlined last month and follows the original plan, namely a 0.1% tax on trades in stocks and bonds and a 0.01% tax on derivative transactions. The proposal has to be unanimously approved by all 11 countries by September 30, 2013.

If it is, the FTT should become law in the 11 states from January 1, 2014. According to The FT, "widespread objections from many other countries, together with threats of lawsuits from financial institutions, may delay the pace and dilute the form of implementation. But there seems an urgent determination to proceed. Reducing the territoriality of the tax, narrowing the range of transactions covered and exempting some institutions such as pension funds are just some of th......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - BlackRock targets ETF investors with flexible currency hedging, Nelson Peltz bets on General Electric Company and Mondelez International, Apple plummets to 4th place among hedge holdings, from No. 1, Top Q3 equity purchases and sales of top 50 hedge funds[more]

    BlackRock targets ETF investors with flexible currency hedging From BlackRock Inc., the world’s largest asset manager, is changing course on exchange-traded funds that protect against currency volatility. After stressing the easy switch between hedged and unhedged ET

  2. Chicago-based Achievement A. M. is shutting down hedge fund following losses[more]

    Komfie Manalo, Opalesque Asia for New Managers: Achievement Asset Management, a Chicago-based hedge fund firm, has announced it is closing down its hedge fund operation following losses on energy market bets this ye

  3. Lyxor Hedge Fund Index up 0.1% (+0.4% YTD) as global macro and CTAs outperform[more]

    Komfie Manalo, Opalesque Asia for New Managers: Global macro and CTAs outperformed the hedge fund space and delivered positive returns last week amidst difficult market conditions, with the Lyxor Hedge Fund Index up

  4. BlackRock is shutting down its Global Ascent macro fund[more]

    Komfie Manalo, Opalesque Asia: BlackRock, the world’s largest asset manager, has announced plans to shut down a macro fund, Global Ascent Fund, because of "headwinds facing the industry". The hedge fund, which makes bets on stock, bond and currency markets, will return money to investors. Ac

  5. Opalesque Roundtable: Seeding deal terms can be onerous for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Executives from fund of funds firms, family offices, a placement agent, a private equity firm, and an accounting firm gathered in Connecticut last month for the