Position on enhanced cooperation FTT

The The Federation of European Securities Exchanges (FESE) has published our position on the Enhanced Cooperation FTT.

&nsbp;

FESE holds strong opposition to the proposed Financial Transaction Tax (FTT), as we believe that it will fail to achieve the European Commission’s stated goals of raising long-term revenue, curbing speculation, enhancing market safety, and ensuring those responsible for the crisis contribute to its aftermath.

&nsbp;

FESE warns that the FTT will negatively affect the real economy by limiting corporate access to finance and harming growth, employment, and citizens’ access to essential financial products like mortgages and pensions. Additionally, the tax risks undermining transparent and regulated trading venues, contradicting the EU’s broader post-crisis regulatory reforms under EMIR and MiFID II/MiFIR, as well as G20 commitments to promote robust, transparent financial markets.