FX swap cost could rise from €279 to €2,779 under EU tax, warns Oliver Wyman
Research published today on behalf of the GFMA global foreign exchange division highlights the potentially punitive impact of the financial transaction tax on the forex industry
The introduction of a financial transaction tax (FTT) across the European Union could increase transaction costs by up to 18 times for the most liquid and short-dated parts of the foreign exchange market, according to research published today by consultancy Oliver Wyman.
The FTT, proposed by the European Commission (EC) in September 2011, would impose a tax of 0.1% on equity and bond transactions
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