The tax on securities trades
was introduced to replace the transfer income tax in the past when it was difficult to grasp actual income without the real-name financial system, Kim said.
Information technology company IBM (NYSE: IBM) announced on Wednesday that Indeval, Mexico's central securities depository (CSD), has selected IBM's decision automation and advanced analytics software to settle securities trades. Financial details were not available.
IBM said that now Indeval can settle securities trades in seconds, reducing the risk of financial losses and shielding the country from fluctuating market conditions.
Investors have to trust their money managers--there is little hope they can monitor the movement of their wealth in complex securities trades
. So if an investment firm is bent--their duped clients will find it much harder to detect their dishonesty in securities than in simple trades of shares.
In return, the adviser placed the securities trades
of those clients with the referring representatives.
The Tokyo Stock Exchange (TSE) on Wednesday slapped a four-week halt on securities trades
on the German brokerage WestLB Securities Pacific Ltd.
Contract-basis figures cover 80-90% of all securities trades