I was thinking the same. "High Frequency Trading" could easily be loosely defined (by government) as anything that generates orders using an automated process. Many people outside the industry does not know (or recognize) where these concepts differ.
In a few years, the euroliberals dream will become reality if they continue...there won't be any finance left in Europe...LOL http://www.bbc.co.uk/news/business-21608938
From 2 weeks ago but I don't remember reading it... The free democrats in Germany wants the plan changed: http://www.ft.com/intl/cms/s/0/3fa51142-7906-11e2-b4df-00144feabdc0.html#axzz2MNvn06LW
This one neither: http://www.ft.com/intl/cms/s/0/8213c20a-76ca-11e2-b925-00144feabdc0.html#axzz2MNvn06LW âDonât buy the hype, this remains a pipe dream,â a senior industry lobbyist said. âWhatever emerges will look nothing like this.â.
I am more and more concerned they will just add market maker/ internalizer exemption on a national basis just like in France and the only guy screwed will be the little guy. Remember... Even a FTT paid by everybody is better than a FTT with exemptions system. If FTT is paid by everybody, spreads widen but you can still compete with the big boys, long term investors/hedgers pay the bill... If there are market makers exemption, it's the end for independant traders, Hedge funds and prop firms. The guy who can't obtain MM status is definitely out. Those who can get it( banks) would become incredibly profitable, big banks would send Champagne to Semeta every christmas...
Have you noticed the new italian FTT does apply to CFDs of underlying shares as well ? It's also expected to affect other italian derivatives from July 1st. It will be intersting to follow how it affects the italian market - while trading elsewhere :eek:
Tradator, I mentionned this once already, but a way to go for EU based traders will probably be trading through a corporation based elsewhere, possibly in a different EU country. I expect more set ups will become available and promoted, legal ones included