MMI CEO Op-Ed: Financial Transaction Tax Would Burden Mom and Pop

MMI CEO Op-Ed: Financial Transaction Tax Would Burden Mom and Pop
CNBC.com published an opinion piece from MMI CEO Bill Harts on proposals for a financial transaction tax. The goal is lofty, audacious and of perfect soundbite length: Free college tuition for all, paid for exclusively by a “small” tax on “Wall Street speculators.” But make no mistake, it would have far-reaching effects and touch every investor. That’s because Principal Trading Firms using high frequency trading techniques now account for about half of overall exchange volume and have played an instrumental role in making markets more efficient for investors.