“The tax – which will apply regardless of where the transaction is executed – follows an introductory scheme launched in March in the country which taxed both exchange-based and over-the-counter share trading.  The new levy will subject high-frequency trading (HFT) to a 0.02 percent tax on trades occurring every 0.5 seconds or faster.  The idea has gained traction with 11 EU countries, also including Germany, Greece, and Spain, planning to introduce a pan-European financial transaction tax in January 2014 which will affect most equity, debt and derivative transactions. But the project has had notable critics, with many believing that trade will just seek new jurisdictions such as the U.K.”

http://www.cnbc.com/id/101002422

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