The document discusses concerns about the Financial Transaction Tax (FTT) and its potential impact on the foreign exchange (FX) market. It highlights the risk of increased costs for end users, reduced liquidity, and inefficiencies in the FX market. The document also critiques the lack of exemptions for non-financial entities and the potential negative impact on European companies' competitiveness. It outlines how the FTT would be applied to various financial transactions, excluding FX spot transactions.
doj/DataSet10/EFTA01449312.pdf
{"title":"Exchange Rate Perspectives: FX and the Financial Transaction Tax","document_date":"2013-07-30","document_type":"financial","key_locations":["Europe","Germany"],"key_organizations":["European Commission","Deutsche Bank Securities Inc."],"reference_numbers":["DB-SDNY-0104663","SDNY_GM_00250847","EFTA01449312"]}