GBSTs Capital Markets division has launched Syn~FTT, a Financial Transaction Tax (FTT) solution based on post-trade functionality.
The move follows the introduction of Financial Transaction Taxes by France and Italy, and the pending launch of a further dozen similar taxes across Europe within the coming months. The new taxes will apply to a range of instruments, with many further variables such as netting and rebating still subject to in-country definition.
Syn~FTT is a standalone system that leverages the established Syn~ technology that includes STP workflow business management and configurable tax calculation methodology, all accessible through the browser technology.
(JDC)