Interactive Data Launches Financial Transaction Tax Data Service

Interactive Data Corporation, a provider of global pricing, reference and corporate actions data, today announced a new service to support the identification of instruments subject to recently implemented French and Italian Financial Transaction Taxes (FTTs).

Financial organisations may be required to determine and collect applicable transaction taxes under the French and Italian FTTs. Interactive Data’s new service is designed to help financial institutions with this process by identifying instruments that may fall within the scope of the French and Italian FTTs.

The Interactive Data service compiles a list of instruments meeting the market capitalisation, location of issuer and other criteria specified in the French and Italian FTTs. This information is updated on a daily basis to reflect instrument level changes and additions, including those arising from corporate actions such as rights issues.

“The Financial Transaction Taxes represent an operational challenge for financial institutions due to the complexities of identifying securities in scope and determining the level of tax on those instruments,” said Anthony Belcher, director EMEA Pricing and Reference Data at Interactive Data. “Our new service enables firms to determine the securities that may fall under the scope of the transaction tax within each jurisdiction whilst removing the need to maintain these lists themselves. This is just one of many reference data services we provide that support Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a Read this Term with tax-related and other regulations such as EUSD, MiFID, U.S. federal income tax withholding Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term and the UK offshore funds distributor/reporting status.”