Comment Text:
i0-001
COMMENT
CL-03728
From:
Sent:
To:
Subject:
Jeff Gehr
Monday, January 25, 2010 8:42 AM
secretary
Regulation of Retail Forex
identification number
RIN
3038-AC61
David Stawick
Secretary, Commodity Futures Trading Commission,
1155 21st Street, NW,
Washington, DC 20581
Dear Mr. Stawick:
It has come to my attention in the recent days that there are proposals on the table to change
regulations for US brokers and their clients, such as myself, further on Leverage from 100:1 to
10:1. While Iam in support of the CFTCand NFAin their efforts to eliminate fraud and deception
within the Forex Market, I am however, VI~HI~I~IFNTIY AGAINST any further reduction in the
Leverage regulations. I believe, as a professional trader that
I should
be given the freedom to
choose the appropriate amount of leverage for my individual trading style and risk
tolerance,
The leverage guidelines/ rules should remain now as they are and NOT be changed
further. Further reductions seriously handcuff our freedoms to trade effectively. It will also most
certainly drive traders/investors to offshore opportunities where the freedoms make sense and
allow for sound independent trading and thinking. This will bea detriment to the US Forex market and
anyone involved.
I am asking you clearly and loudly, with respect, to NOT
reduce or change the leverage requirements/rules/guidelines any further
than they have already been changed!
Sincerely,
Forex Trader
