According to Shangpin Finance Network, the impact of stamp duty on commodity futures is as follows:
Stamp duty will increase transaction costs. Both futures traders and futures companies need to pay stamp duty. This will reduce the frequency and scale of transactions.
The collection of stamp duty may lead to a decline in market liquidity. When the transaction cost increases, investors may be more cautious in trading, resulting in a decrease in market trading volume, thus reducing market liquidity.
Stamp duty will also affect the investment behavior of market participants. Due to the existence of stamp duty, investors may prefer long-term investment to frequent short-term transactions.