Comment Text:
i0-001
COMMENT
CL-01631
From:
Sent:
To:
Subject:
Joe Custin
Thursday, January 21, 2010 8:49 AM
secretary
Regulation of Retail Forex
To Whom it May Concern:
My understanding of CFTC's recent proposed regulation changes would restrict leverage to 10-1.
I am vehemently opposed to such regulation that limits or restricts use of leverage in off-exchange retail
forex markets.
Restricting leverage in this market to 10-1 serves only to "slow down" risk capital but does nothing to
decelerate risk taking in retail foreign exchange. Retail traders collectively have little impact, positive
or negative, on total market liquidity.
The CFTC is a governmental agency and therefore and agency of the people. Myself, as 'The People' do
not want you to restrict leverage to 10-1. It is NOT OUR DESIRE for you to restrict leverage in this
market. You have already served your purpose by increasing leverage requirements. We are opposed to
the new proposed regulation.
Sincerely,
Joseph Custin
Retail Forex Trader
