French transaction tax favours structured products and swap-based ETFs

French transaction tax favours structured products and swap-based ETFs

tax

With derivatives so far immune to the French Financial Transaction Tax (FTT), which came into force in August, banks and providers are seeing the resulting benefits to sales of swap-based exchange-traded funds (ETFs) and structured products. The FTT, which currently stands at 0.2%, covers the listed shares of French companies with a market capitalisation of more than €1 billion ($1.3 billion). Derivatives, bonds and other debt instruments are exempt from the tax unless their ex