Pension funds, insurance companies and asset managers face the largest increases in fx cash and derivative transaction costs should a financial transaction tax be implemented in Europe. A report from Oliver Wyman commissioned by the Global Financial Markets Association’s global fx division, the costs for institutional investors to enter transactions in the fx market could increase by 18 times on implementation of the tax. This is because investors will be hit with their own tax liability and a portion of the costs associated with the tax from the ....