Transaction Tax Poses Bigger Threat Than `Brexit' to Traders
- High-speed firm would leave Netherlands if tax is introduced
- Brexit may benefit electronic traders by increasing volatility
Cables lead from the back of a switch unit in the server hall of the data storage center at the headquarters of Rostelecom PJSC, the state telecommunications operator, in Moscow, Russia, on Tuesday, Dec. 29, 2015. Netflix Inc. signed agreement with Rostelecom to use its TV service starting in 2016.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
There is a bigger threat to financial markets than Brexit.
Ten European countries are developing a tax on financial transactions, a prospect so terrifying to the continent’s traders that one firm in the Netherlands has already drawn up contingency plans to move to the U.K. or Switzerland.