A 10 cent transaction fee to be applied on all trade done on the Chicago Exchanges, this 10 cent is per transaction, NOT Per Share so if you buy 1 or 10 Billion shares it will only cost 10 cents. So Bankers You Got A Dime for Our Kids Futures, or For The Seniors lives you have destroyed
A 10 cent transaction fee to be applied on all trade done on the Chicago Exchanges, this 10 cent is per transaction, NOT Per Share so if you buy 1 or 10 Billion shares it will only cost 10 cents. So Bankers You Got A Dime for Our Kids Futures, or For The Seniors lives you have destroyed
A 10 cent transaction fee to be applied on all trade done on the Chicago Exchanges, this 10 cent is per transaction, NOT Per Share so if you buy 1 or 10 Billion shares it will only cost 10 cents. So Bankers You Got A Dime for Our Kids Futures, or For The Seniors lives you have destroyed
Transaction Revenue fees brought in by all Chicago !"changes CM! #rou$, Chicago %toc& !"change and the Chicago 'oard of ($tions I would li&e to $ro$ose a new Idea and a new way to generate revenues by enacting a fee of .)* Cents $er transaction on all trades e"ecuted on the Chicagos ma+or Commodity, %toc& and ($tion e"changes as well as their com$uteri,ed trading $latform systems. This fee would only be $er-transaction, not $er share so if you did one share or a billion shares the fee would still only be ten cents. This fee will not hurt the small investors nor the lager investment ban&ing and or trading firms. I would also li&e $oint out since ./)) that our e"changes here are constantly being loo&ed at as a target for terrorism and this has added high cost to our city and state budgets for security monitoring to hel$ ward off such attac&s with no source to hel$ offset and $ay for these ongoing additional cost. These !"changes were originally set u$ as non-$rofit entities but over the $ast few years have now become for $rofit enter$rises and the +obs that once where there offered $eo$le are not available. The e"change floors have im$lemented com$uteri,ed systems for e"ecuting trades and as a result, these firms no longer em$loy a large staff need the large staff which in return has decreased $ayroll ta"es to the state. 0evertheless, using the com$uteri,ed systems has hel$ed these firms to &ee$ their $rofits margins high and their C!( and other to$ e"ecutive ban& accounts fat with bonus and $rofits. These four e"changes combined conduct over ) billion transaction a month thus giving our state an o$$ortunity to sei,e around )** million dollars $er- month giving us anywhere from 1** million to over ) billion dollars of new revenue to our states coffers which could go to schools, $ensions funding, health care and infrastructure $ro+ects which will hel$ bring +obs to the $eo$le of Illinois. Illinois would be the first %tate to enact this ty$e of revenue stream but once it is done, other states such as 02 or California that have e"changes could $otentially co$y and follow our 3Illinois4 lead. The transaction fee has no mention of the e"em$tions along with the CM! management fee. %o +ust a reminder Floor members, Illinois residents, and 5griculture would be e"em$ted. The CM! would collect between a 1 to )*6 fee from the fee7s they collect via the e"changes. The ten cent transaction fee over ten years would increase to 8).** $er transaction not $er share This will allow the %tate to discontinue the )9: million a year it gives the CM!, because they would have a revenue stream of )1* to 1** million dollars a year.