ITG’s experts have reviewed the Danish draft position on the European Financial Transaction Tax (the FTT). Importantly, the Danes currently hold the European Union presidency and the leaked document will serve as a basis for discussions that will set the agenda for the full European finance ministers meeting in May/June.
In this edition of The Blotter, Ian Domowitz discusses the complex world of European Regulatory Reform. With MiFR, MiFID, ESMA guidelines, the MAR, and DCS all on the table, it’s tough to keep proposed regulations and new rules straight. Ian Domowitz helps break it down for the layman.
In this edition of The Blotter, Juan Pablo Urrutia discusses the long-awaited European Parliament Report on MiFID II. The first installment of this report reveals that Broker Crossing Systems could go the way of the dinosaurs, while dark MTFs could be preserved in a tight, but politically unbiased, market structure environment.
The French financial transaction tax (French FTT) was adopted February 29 by the French National Assembly despite fierce opposition from the French left (in particular as the proposal was bundled with the abolition of employers’ social contributions and compensated with a rise in sales tax that the French left considers it will hit the poorest hardest). ITG’s Juan Pablo Urrutia discusses the new policy.
As an export led economy, the €/ CHF exchange rate is important not just for the Swiss exports to the EU but, also has an impact on the competitiveness of its exports to other regions including the U.S. and Asia. Hence, the logic in the SNB’s response in September to announce a ceiling of 1€: CHF 1.20. ITG’s Juan Pablo weighs in on whether the ceiling will bolster the Swiss economy and floundering exports activity.
