Argh NJ proposing 25c/trade tax on equity trading. Not a huge amount ~ 0.12c per share on average, but still challenging. Murphy ‘Very Seriously’ Mulling New Jersey Tax on High-Volume Trades https://www.bloomberg.com/news/articles/2020-08-31/murphy-very-seriously-mulling-n-j-tax-on-high-volume-trades?sref=d1HExRZd …
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The datacenters will move from NJ if this happened. Similar to IL's plans to put taxes on CME futures trades.
Agreed but its generally indicative of the regulatory posture - higher costs in general could be on the horizon regardless of where the data centers sit.
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2020 is obfuscating it but the industry is a 2016-17 away from a lot of firms shutting down. Costs have already gone up a lot.
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