DataSet-10
EFTA01353570
1 pg
…agreement or other master agreement for financial transactions) between Party A
(including any of its affiliates) and Party B whether executed now or at any time in the future
which governs the terms of transactions entered into between the parties…
DataSet-10
EFTA01456460
1 pg
…agreement or other master agreement for financial transactions) between Party A
(including any of its affiliates) and Party B whether executed now or at any time in the future
which governs the terms of transactions entered into between the parties…
DataSet-10
EFTA01353603
1 pg
…agreement or other master agreement for financial transactions) between Party A
(including any of its affiliates) and Party B whether executed now or at any time in the future
which governs the terms of transactions entered into between the pasties…
DataSet-10
EFTA01449312
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
involve very large notional amounts. The FX market is also intermediated, with
several potential stages between client and ultimate liquidity provider.
We are concerned that the FIT would…
DataSet-10
EFTA01449320
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
Figure 7: USD/CAD: CAD overvaluation is being 8: USD/AUD: AUD is very expensive. beyond 20%
unwound threshold
…
DataSet-10
EFTA01449311
1 pg
…to encourage greater clearing and margining of transactions
in order to reduce credit risk.
The Bottom Line
On 22nd January 2013 the European Council gave the go ahead to 11 EU member
states to negotiate a Financial Transaction Tax (FTT).'…
DataSet-10
EFTA01449329
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
Figure 49: ...and to a lesser extent equities... (Figure 50: ...with relatively modest purchases by
(Australians …
DataSet-10
EFTA01449317
1 pg
…corporations will likely not be subject to the same standards.
In the case of non-financial institutions that are not subject to prudential
margin requirements, a number of factors will determine whether they choose
to bilaterally margin uncleared derivative transactions…
DataSet-10
EFTA01449340
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
Regulatory Disclosures
1. Important Additional Conflict Disclosures
Aside from within this report, important conflict disclosures can also be found at https://gm.db.com/equities under the
"Disclosures…
DataSet-10
EFTA01449240
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
Appendix 1
Important Disclosures
Additional information available upon request
For disclosures pertaining to recommendations or estimates made on securities other than the primary subject of this
research, please…
DataSet-10
EFTA01449314
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
transaction. For example, where a dealer provides liquidity to a financial entity and
simultaneously hedges the same transaction with a third counterpany, afl three
entities are likely to…
DataSet-10
EFTA01449224
1 pg
30 July 2013
Exchange Rate Perspectives: EX and the Financial Transaction Tax
Figure 19: Portfolio inflows seem to have peaked after an Figure 20: as foreign Interest in Canadian securities has
upsurge since 2008 !fallen from record highs…
DataSet-10
EFTA01449309
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
Table Of Contents
Currency Forecasts 3
The Big Picture:
FX and the Financial Transaction Tax 5
Monitors:
…
DataSet-10
EFTA01449215
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
[Figure 5: Ex-Euro Area German exports have gained share
70,000
—Euro-Area
Non.EuroArea
6014° 1
…
DataSet-10
EFTA01449231
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
U.S. Trade Balance Monitor
[Figure 1: The US trade deficit continues to recover Figure 27 US and world industrial growth remains sedate
…
DataSet-10
EFTA01449333
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
U.S. Trade Balance Monitor
[Figure 1: The US trade deficit continues to recover Figure 27 US and world industrial growth remains sedate
…
DataSet-10
EFTA01449336
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
Figure 28: U.S. Trade Balance with Western Europe IFigure 29: U.S. Trade Balance with Canada
IIIMII\icrotrov CUSS en Waal Annual (lOSS 0' I !hr.I…
DataSet-10
EFTA01449326
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
Figure 19: Portfolio inflows seem to have peaked after an Figure 20: as foreign Interest in Canadian securities has
upsurge since 2008 !fallen from …
DataSet-10
EFTA01449210
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
Table Of Contents
Currency Forecasts 3
The Big Picture:
FX and the Financial Transaction Tax 5
Monitors:
…
DataSet-10
EFTA01449236
1 pg
30 July 2013
Exchange Rate Perspectives: FX and the Financial Transaction Tax
Figure 28: U.S. Trade Balance with Western Europe IFigure 29: U.S. Trade Balance with Canada
IIIMII\icrotrov CUSS en Waal Annual (lOSS 0' I !hr.I…
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