Comment Text:
i0-001
COMMENT
CL-01991
From:
Sent:
To:
Subject:
Jack Kelley
Thursday, January 21, 2010 4:52 PM
secretary
Regulation of Retail Forex
Dear Commodity Futures Trading Commission Secretary (CFTC),
Please copy and distribute this e-mail to all the CFTC members.
We are immeasurably disturbed by your move to increase margins for forex trading, by tenfold, in firms
that are Commodity Futures Trading Commission and National Futures Association regulated. Your
move is dead wrong and totally unwarranted. Perhaps you think you are saving the small trader. In fact,
you are ruining us.
My wife and I are retired. For years, we have supplemented our modest pension and Social Security by
carefully trading the retail forex market. If you increase our margin requirement tenfold, you will reduce
by tenfold our income.
This sort of action is criminal, on your part.
We fully understand the risk of trading forex. Using sophisticated software, and carefully monitoring
every trade, we buy or sell only small numbers of contracts and use stops to negate the risks that scare
you.
Let us not mince words: If you implement this insane proposal, you are stealing from Jack and Judy
Kelley! Big government at its very worse.
Leave our business alone!
Jack and Judy Kelley
511 Wedgewood Way
Devine, Texas 78016
