Italy imposes world's First HFT Tax
HIGH Frequency Trading is the use of powerful automated systems and algorithms to enter, amend, and leave market positions several hundred times within the space of a minute, potentially earning a small profit on each transaction.
The Italian Finance Ministry announced that a new tax of 0.02 percent has been instated on high-frequency trades of stock and derivatives transacted on the Italian national stock market.
With this imposition, Italy has become the first country in the world to enforce a tax specifically on High Frequency Trading activity.
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