Italy Imposes Tax on High-Frequency Trading
Italy implemented a new tax on high-frequency trading on Monday, becoming the first country to impose a levy on an opaque and little-regulated market practice.
The 0.02-percent levy applies to transactions lasting less than half a second and is the second part of new financial transaction taxes being imposed in Italy.
Investors were concerned it could drastically reduce trading volumes on Italy's financial markets.
Eleven other European countries are to introduce financial transactions taxes, a prospect that has concerned economists worried about a possible wider impact.
Source: Agence France Presse
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