Effective Sept. 1, the New York State legislature is tacking a five percent tax on information services delivered by "telephony...or telephone," which means market data any way you slice it. The tax will be levied on top of state and local sales taxes, and as such brings the total tariff for New York City- based data consumers to 13-1/2 percent.
But few, if any, September data bills will reflect the added five percent: Market data vendors are seeking clarification of the law from tax official
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails