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Financial transaction tax

Financial transaction tax

In light of the global nature of the financial crisis, the European Union’s aim is to engage the financial sector in bearing part of the cost of the crisis. Deutsche Börse Group understands this objective and therefore observes the debate on the introduction of a financial transaction tax (FTT) with great interest.

The European Commission, but also the German Federal Government, have already presented a variety of initiatives on the introduction of an FTT. Currently ten Member States of the European Union, including Germany and France, debate the introduction of an FTT within enhanced cooperation. The practical details and geographic reach of such a tax are currently under intensive discussion on a national and European level. Both aspects are of an outstanding importance for the European financial market structures. The introduction of a tax on financial transactions must neither lead to a disparity of regulatory basic conditions of various financial centres nor have a negative steering effect in benefitting unregulated and off-exchange trading.