Comment Text:
i0-001
COMMENT
CL-01803
From:
Sent:
To:
Subject:
William Boatright
Thursday, January 21, 2010 12:20 PM
secretary
Regulation of Retail Forex
Hello,
I would like to submit my opposition to the upcoming new leverage (Max 1:10) regulation, as applied
to US Retail Foreign Currency Exchange Market (FOREX) Trading, as proposed in the Food,
Conservation, and Energy Act of 2008. This new leverage regulation will have detrimental effect on thousands, if not hundred of
thousands, US FOREX retail traders using US based FOREX Brokers. If this new FOREX trading regulations are the result of
US Equities Brokers' loss of business to retail FOREX Trading, this is just wrong to penalize thousands of small US retail
FOREX traders.
Being a US laid off individual, I make a living by writing, then leasing, Automated FOREX Trading Software. The effect of this
new FOREX leverage restriction will be to put me out of business. I hope the CFTC would consider the negative effect on small
US FOREX traders and judge fairly before implementing these new regulations.
Best regards,
William Boatright
Cary, NC
