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August 10, 2012: S Korea Plans Tax On Options And Futures; U.S. Banks Told To Make Plans For Preventing Collapse; Another Day, Another Trading Glitch: RBS Owns EUR/CHF Spike

BY Christine Nielsen » August 10, 2012 AT 8:46 am

South Korea is planning a transaction tax for futures and options activity, and not surprisingly some say that the move could harm exchange volume in that country.  Formerly-secret plans regarding the banking industry come to light, showing that the U.S. government wants strategies in place for how banks might manage their own demise, and that government help should not be assumed in a future crisis.  RBS shuffles to the front of the class and owns up to a fat-finger currency trade that created excessive algo activity and a big price spike.

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