The document discusses the potential impact of the Financial Transaction Tax (FTT) on FX markets, highlighting significant increases in transaction costs, particularly for short-term FX swaps and forwards. It compares the impact of the FTT to the Lehman liquidity crisis and notes the high turnover in FX markets, which would exacerbate the cost increases.
doj/DataSet10/EFTA01449315.pdf
{"title":"Exchange Rate Perspectives: FX and the Financial Transaction Tax","key_people":["Oliver Wyman"],"document_date":"2013-07-30","document_type":"financial","key_organizations":["Global FX Division","Global Financial Markets Association","Deutsche Bank","Bloomberg Finance LP"],"reference_numbers":["DB-SDNY-0104666","SDNY_GM_00250850","EFTA01449315"]}