I was blocking this whole thing out for long.. Its time to get dirty. It's seems very probable that EU will introduce it after the UK referendum. So what's the consequences for a private trader (trading US futures through US broker from UK/EU) How much would it cost for 1 ES contract round trip? Can it be avoided? Like supplying a Switzerland residential address to your US broker?
Probably roughly between 20-40$ per RT. But there will be very quickly new products that will take over the trading and that will not be taxed. This is what happened in Belgium already with CFD's.
So its really 0.01% of contract value they are going to charge? $10 on each transaction... wow I wouldn't count on cfds too much. Their spreads will widen so much that it might be even more expensive and risks with bucket shops are inherently bigger.. So it seems only swing and positions traders will survive... and the morons here call Putin a communist..
Do you have some new information or are you just speculating? What has changed in the last month since this article was written:- http://www.automatedtrader.net/news/at/155159/ftt-on-the-back-burner-again Let's deal in facts here, not our fears.
this is fact. closing the eyes doesnt make it go away. and its obvious they wont move until after the referendum to avoid pissing off people and fueling No campaign.
Sounds like idle speculation on your part unless you can provide some facts. By the way, I was discussing this with fellow posters on ET five or six years ago, when I personally updated the Wikipedia page with details of the Swedish experience. I even emailed the UK's Osborne when he met up with the Swedish finance minister and received a nice reply from Osborne's secretary. The same fears have been present over the last few but it was never introduced. So what has changed? Populist talk is one thing, action by policymakers is another.. I agree that the risks may be slightly greater after the UK referendum, but I haven't seen any information to suggest it will actually be introduced across all EU states. Admittedly, I haven't been following the situation closely of late. Where are the facts to suggest the situation has changed from the status quo of the last five years or so?
Ok. its your personal problem really. could you please stop polluting the thread if you have nothing to say on the subject. (which is not - Will they.. but rather - What private traders should do after it has been introduced..) Thanks P.S. they are doing it as we speak.. google if you interested. open your own thread. also note that Osborne and Cameron command fuck naught in the EU.
No problem, I'll leave the thread. It's not like this hasn't already been discussed a gazillion times already, I'll leave you to it.
What has changed in respect of the likelihood since this: http://www.bloomberg.com/news/artic...arch-reckoning-for-eu-push-on-transaction-tax