February 28, 2020 / 1:10 PM / a month ago

BRIEF-CEO of Spain's BME Says Needs To Analyze Impact of Incoming Financial Transaction Tax

Feb 28 (Reuters) - Chief Executive Officer Of Spain’s BME Javier Hernani:

* SAYS WE WILL NEED TO ANALYZE IMPACT OF INCOMING FINANCIAL TRANSACTION TAX, FIND BEST SOLUTION FOR US

* “WHAT WE OBVIOUSLY HAVE TO DO IS TO SEE HOW IT IMPACTS THE MARKET AND SEE WHAT OUR BEST SOLUTION IS,” HERNANI SAID.

* “RIGHT NOW THERE IS NOT MUCH VISIBILITY ON THAT MATTER, IT WILL TAKE A TIME TO ADAPT.”

* LAST WEEK THE SPANISH GOVERNMENT APPROVED A BILL TAXING FINANCIAL TRANSACTIONS AT A 0.2 PERCENT RATE, POTENTIALLY EARNING THE STATE 850 MILLION EUROS

* THE NEW TAX WILL BE LEVIED ON TRANSACTIONS OF SHARES OF LISTED COMPANIES WITH A MARKET CAP HIGHER THAN 1 BILLION EUROS. THERE ARE ABOUT 60 SUCH COMPANIES IN SPAIN, ACCORDING TO DATA FROM REFINITIV Source text for Eikon: Further company coverage: (Reporting By Madrid Newsroom)

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