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IPFS News Link • New Jersey

New Jersey Governor "Very Seriously" Considering Tax On High-Frequency Trades

•, Tyler Durden

Hours after unveiling plans to reopen indoor dining in his state on Friday (although restaurants will be limited to just 25% capacity, making it effectively impossible for most to even do business), Gov Murphy announced during a press briefing Monday afternoon that he was mulling a 'high frequency trading tax'.

Keep in mind: The New York Stock Exchange is mostly an expensive TV set for CNBC. All the real trading takes place across the Hudson in New Jersey, in heavily fortified data centers in Seacaucus, Carteret Mahwah and other North Jersey data centers.

Assemblyman John McKeon, a Democrat from West Orange, introduced the bill on July 16. An identical version - sponsored by Senate President Steve Sweeney, a Democrat who is New Jersey's highest-ranking state lawmaker - followed.