ECJ Rejects UK’s Appeal on Financial Transaction Tax

"We at BATS Chi-X Europe remain opposed to a FTT," says Mark Hemsley, CEO of BATS Chi-X Europe.

The EU FTT is currently supported by a group of 11 European countries under the enhanced co-operation agreement that allows a majority of member states in the EU to go ahead with a reform without the absolute majority.

The enhanced cooperation was approved by the EU Commission in February 2013 and aims at introducing a 0.1 percent tax on the exchange of shares and bonds, and a 0.01 percent levy on derivatives, expected to generate between €30 billion ($40 billion) and €35 billion ($47 billion) a

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