Comment Text:
i0-001
COMMENT
CL-01383
From."
Sent."
To,"
Subject:
JOHN ASHLEY
Wednesday, January 20, 2010 11:43 PM
secretary
FW: CFTC's Proposal of Leverage Changes: How You Can Help
This is posted on Investors.corn
You people are the new SS... literally what is wrong with America.
Wake up, quit and walk out now.
From: [email protected]
To: [email protected]; [email protected]; [email protected]; [email protected]
Subject: FW: CFTC's Proposal of Leverage Changes: How You Can Help
Date: Wed, 20 Jan 2010 23:38:01 -0500
Mr. Hannity, Mr. O'reilly & Mr Beck,
You face the end of your careers at the hands of the same people who seek to eliminate the
opportunities for wealth building by instituting these kinds of arbitrary regulations in what may
someday (soon) no longer be our free markets.
I would suggest that you take up this issue immediately while you still can.., your voices will soon be
silenced, what will you do with them in the meantime?
John
From: [email protected]
To: [email protected]
Subject: RE: CFTC's Proposal of Leverage Changes: How You Can Help
Date: Wed, 20 Jan 2010 23:20:44 -0500
Ladies and gentlemen,
We can do nothing to stop the stupidity of the regulatory regime that has already materially damaged
the retail securities market by eliminating the uptick zero plus tick test for professional short selling in
stocks, required the issuance of credit to unworthy card holders and the concomitant collapse of the
associated derivatives market, required the issuance of credit to unworthy mortgage holders and the
concomitant collapse of the mortgage derivatives market, the institution of FIFO rules and the
elimination of hedging in both the FOREX and futures markets which seriously hinders American traders
from competing in the global marketplace and will obviously lead to a massive decline in domestic
money supply as traders large and small avail themselves of most of those advantages by "exporting"
US dollars overseas and trading in foreign brokerage accounts.
I would suggest that you make it possible to trade with your firm in an offshore account.., you might
perhaps even be well advised to end your affiliation with the NFA even to the extent of possibly closing
you domestic operations down in a controlled incremental manner.., why not phase it out.., after all the
CFTC, NFA and SEC are bent on phasing America out.., why not just go with the flow?
Date: Wed, 20 Jan 2010 21:01:31 -0500
From: [email protected]
To: [email protected]
Subject: CFTC's Proposal of Leverage Changes: How You Can Helpi0-001
COMMENT
CL-01383
Dear Valued Customer,
As many of you are aware, the U.S. Commodity Futures Trading Commission (CFTC) announced on January 13, 2010
that it is seeking public comment on proposed regulations concerning retail Forex trading.
As part of the proposed regulations, it is stated: "leverage in retail forex customer accounts would be subject to a 10-to-1
limitation," which means 10:1 leverage would be the maximum amount allowed for all Forex traders in the U.S.
An example of how the proposed regulatory restrictions would affect a major currency pair appears below:
Maximum Leverage under Current Regulations
USD/CHF
100:1 leverage (one percent)
1 lot (100,000)
Margin requirement: $1,000
Maximum Leverage under Proposed CFTC Changes
USD/CHF
10:1 leverage (10 percent)
1 lot (100,000)
Margin requirement: $10,000
We stand behind the belief that you should be given the freedom and right to choose the amount of leverage that is
appropriate for your individual desired risk, and that this basic principle of 'choice' is in jeopardy by the proposed CFTC
regulations.
If you feel strongly about the proposal, we encourage you to help determine the outcome of these proposed regulations.
You can help make an impact by sending comments directly to the CFTC at: [email protected].
Please include 'Regulation of Retail Forex' in the subject line of your message and the identification number RIN 3038-
AC61 in the body of the message.
You can also submit your comments by any of the following methods (include above ID number):
¯
Fax:
(202) 418-5521
¯
Mail: David Stawick, Secretary Commodity
Futures Trading Commision 1155 21st Street, N.W.,
Washington, DC 20581
¯ Courier: Use the same as mail above.
In the upcoming days, Interbank FX and the rest of the U.S. Forex Dealer Coalition will be releasing a more formal
opinion about the proposed changes. Please feel free to read further details about the regulation on the CFTC website by
clicking here.
In the interim, we encourage you to voice your opinions to the CFTC and your local U.S. representative.
As always, we want the best for our traders. We hope you'll join forces with us to prohibit the proposed leverage
requirements.
The Interbank FX Team
/;2 FxDo .....
International
US and Canada 866.468.3739 Australia
1.800.884.912
Indonesia
001.803.017.9112
Malaysia
1.800.813.776
New Zealand 0800.446647 Singapore
800.101.2097 United Kingdom 0.808.120.1966 International +1.801.930.6800
Interbank FX
TM
LLC I IBFXTM I IBFXUTM I Registered FCM, Member NFA
Interbank FX I 3165 Millrock Drive STE 200 I Salt Lake City, UT 84121 I Tel: 1.866.468.3739
To opt-out of future emails from Interbank FX,
click here.
Trading in the off exchange retail foreign currency market is one of the riskiest forms of investment available in the financial markets and
suitable for sophisticated individuals and institutions. The leveraged nature of FX trading means that any market movement will have an
equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain
a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin calli0-001
COMMENT
CL-01383
within the time prescribed, your position will be liquidated and you will be responsible for any resulting losses.
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