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Stats › Active, passive and flows › The Italian FTT

The Italian transaction tax took 80% off over the counter equity trading and left the exchange alone

Over the counter, Italian equities
-80.2%
Grand total, Italian equities
-23.2%
Over the counter, German equities
-8.2%
Grand total, German equities
-0.8%
Borsa Italiana, Italian equities
7.9%

Trading values, March 2013 to February 2014 against March 2012 to February 2013, from Capelle-Blancard Table 8. The difference in differences figures are minus 71.9% for over the counter and minus 22.5% for the grand total.

In the year after March 2013, over the counter trading in Italian equities fell 80.2% while trading on Borsa Italiana rose 7.9%. Against German controls the over the counter effect is minus 71.9% and the effect on total trading is minus 22.5%.

-80.2%Over the counter trading in Italian equities, year after against year before
-71.9%The same figure against German equities as a control
+7.9%Trading on Borsa Italiana over the same period
-22.5%Total Italian equity trading, against the German control

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