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  • joegrant87 joegrant87 Dec 1, 2012 2:54 AM Flag

    Foreign Transaction Charge for French Companies

    Didn't know this. This would discourage day traders, which would be a good thing.

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    • yeah, it looks like the whole package is aimed at making the market a little safer (with raising revenues as a plus):

      "On 1 August 2012, France introduced a financial transaction tax in French tax regulation pursuant to Article 5 of the French Amended Finance Bill of 14 March 2012. Two other taxes applicable to financial transactions were also introduced, including a tax on high frequency trading; and a tax on naked sovereign credit default swaps. The FTT levies a 0.2 percent tax on all publicly traded companies with a market value over €1 billion."
      a tax on high frequency trading! good idea.