The law adopted by French Parliament back in February 2012 comes into effect Wednesday, August 1st. The FTT will be a tax of 0.2% levied on the purchase of equity securities issued by a French-listed company having a market capitalization in excess of €1bn as of the 1st of January of the year during which the transfer occurs. For a detailed explanation of the FTT, click here. For a Euroclear White Paper detailing clearing aspects of the FTT, click here.