At 11:41 AM -0800 3/20/97, Peter Bohmer wrote: > Does anybody have an estimate of the daily value in dollars of stock, >bond and other financial transactions, excluding new issues, in the United >States. This would include the various stock market, futures, bond >markets, etc. I am trying to estimate the tax revenue from a 1% tax on >these transactions, somewhat analogous to Tobin's idea of a tax on >foreign currency transactions. For stock market volume, see the Market Laboratory section in any issue of Barron's. For futures markets as a whole, check with the Commodity Futures Trading Commission. There's info on U.S. Treasury bond trading volume, including derivative markets, in the statistical annex to every issue of the Federal Reserve Bulletin. Also, the daily volume of the CHIPS wire - the bank wire that captures almost all financial action anywhere in the world with the U.S. dollar on at least one side of the trade - is averaging around $1.2-1.3 trillion. That's trillion with a T, and it's daily volume. For confirmation of that, get in touch with the New York City Clearing House. Doug -- Doug Henwood Left Business Observer 250 W 85 St New York NY 10024-3217 USA +1-212-874-4020 voice +1-212-874-3137 fax email: <mailto:[EMAIL PROTECTED]> web: <http://www.panix.com/~dhenwood/LBO_home.html>
