![]() " Technical analysis in the foreign exchange market,"Ģ011-001, Federal Reserve Bank of St. ![]() " High-Frequency Technical Trading: The Importance of Speed," " Technical Trading and Commodity Price Fluctuations," Motives, Revenues, Feasibility and Effects," " Trading Practices and Price Dynamics in Commodity Markets and the Stabilising Effects of a Transaction Tax," " Technical Trading and Trends in the Dollar-Euro Exchange Rate," " Financial Transaction Tax: Determination of Economic Impact Under DSGE Model,"Īcta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. Veronika Solilová & Danuše Nerudová, 2015." The Struggle Over the Financial Transactions Tax – A Politico-economic Farce," Review of Financial Economics, Elsevier, vol. " Profitability of technical stock trading: Has it moved from daily to intraday data?," SUERF - The European Money and Finance Forum, number 2010/3 edited by Morten Balling, Jan Marc Berk and Marc-Olivier Strauss-Kahn, August.Ģ5, Directorate General Taxation and Customs Union, European Commission. " The Quest for Stability: the view of financial institutions," Boonstra & Verónica Vallés & Christian Weistroffer & Stephan Schulmeister, 2010. " The Interaction between Technical Currency Trading and Exchange Rate Fluctuations,"Ġ512033, University Library of Munich, Germany. By contrast, the decentralised approach could be implemented by a group of (EU or euro) countries without doing much harm to their own markets. The centralised tax deduction would be optimal but requires a broad consensus among countries within the same trading time zone. With the decentralised approach, the tax is deducted by the banks which transmit an order to an exchange or which carry out an OTC transaction. With the centralised approach, the tax is collected at point of settlement, either from the electronic settlement systems at exchanges, or from Central Counterparty Platforms (CCPs) in the case of over-the-counter (OTC) transactions, respectively. The main part of the study deals with the two different ways of how an FTT could be implemented. Against this background, the main objections to a general financial transactions tax (FTT) as put forward by the International Monetary Fund and the European Commission are evaluated. The aim of the paper is to research, whether the revenues from the imposition of financial transaction tax through enhanced cooperation could be used as a new own resource of EU budget and whether it would enable to replace GNI contribution of EU-11 as announced by the European Commission.The study summarises the most significant observations about trading behaviour and price dynamics in financial markets. only by countries willing to do that – by EU-11). Due to this fact it will not be implemented through the directive (requiring the unanimity of all EU Member States) but rather through enhanced cooperation (i.e. However, the imposition of FTT on financial sector is very sensitive issue. Moreover, with respect to the fact, that the crises was the result of complex interaction of market failures, global monetary and financial imbalances and weak supervision, it has been argued, that taxes could be used as regulatory tools. Therefore there is a strong consensus not only on the level of the European Union but also internationally, that financial sector should contribute to the public finance more fairly. Those public interventions have significant budgetary consequences (strongly felt in Greece, Spain or Italy) and imposed a heavy burden on the present and future generations. The EU Member States individually committed to support the financial sector for a total about EUR 4.6 trillion (i.e. ![]() The discussion about the possible taxation of the financial sector has started in the European Union as a result of the financial crisis which has spread to the Europe from the United States in 2008.
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